Lisanti Capital Growth LLC Sells 17,425 Shares of SiTime Corporation (NASDAQ:SITM)

Lisanti Capital Growth LLC trimmed its holdings in shares of SiTime Corporation (NASDAQ:SITM - Free Report) by 59.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,820 shares of the company's stock after selling 17,425 shares during the quarter. Lisanti Capital Growth LLC's holdings in SiTime were worth $1,807,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. increased its position in SiTime by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 2,468,348 shares of the company's stock worth $529,535,000 after acquiring an additional 52,310 shares during the period. Invesco Ltd. increased its holdings in SiTime by 11.0% in the 4th quarter. Invesco Ltd. now owns 983,175 shares of the company's stock valued at $210,921,000 after buying an additional 97,062 shares during the period. Ameriprise Financial Inc. increased its holdings in SiTime by 16.1% in the 4th quarter. Ameriprise Financial Inc. now owns 515,735 shares of the company's stock valued at $110,641,000 after buying an additional 71,658 shares during the period. Geode Capital Management LLC increased its holdings in SiTime by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 442,897 shares of the company's stock valued at $95,037,000 after buying an additional 1,975 shares during the period. Finally, Hood River Capital Management LLC increased its holdings in SiTime by 27.0% in the 4th quarter. Hood River Capital Management LLC now owns 421,960 shares of the company's stock valued at $90,523,000 after buying an additional 89,632 shares during the period. 84.31% of the stock is owned by institutional investors.

SiTime Trading Up 1.9%

SITM opened at $212.93 on Friday. The company's 50 day moving average is $193.44 and its 200-day moving average is $190.38. SiTime Corporation has a 1-year low of $105.40 and a 1-year high of $268.18. The company has a market cap of $5.05 billion, a P/E ratio of -56.03 and a beta of 2.24.

SiTime (NASDAQ:SITM - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.26 earnings per share for the quarter, beating analysts' consensus estimates of $0.11 by $0.15. SiTime had a negative net margin of 38.60% and a negative return on equity of 9.43%. The company had revenue of $60.31 million for the quarter, compared to the consensus estimate of $54.01 million. During the same period last year, the company posted ($0.08) EPS. The firm's quarterly revenue was up 82.7% compared to the same quarter last year. On average, equities analysts forecast that SiTime Corporation will post -2.44 EPS for the current year.

Insider Activity

In related news, insider Vincent P. Pangrazio sold 5,026 shares of SiTime stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $204.55, for a total transaction of $1,028,068.30. Following the sale, the insider now directly owns 64,842 shares in the company, valued at $13,263,431.10. This trade represents a 7.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Rajesh Vashist sold 20,000 shares of SiTime stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $210.65, for a total transaction of $4,213,000.00. Following the sale, the chief executive officer now owns 490,320 shares in the company, valued at approximately $103,285,908. This represents a 3.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 63,818 shares of company stock worth $13,171,258. Corporate insiders own 2.10% of the company's stock.

Analysts Set New Price Targets

SITM has been the topic of several recent analyst reports. Barclays raised their target price on shares of SiTime from $135.00 to $180.00 and gave the company an "underweight" rating in a report on Wednesday, June 11th. Stifel Nicolaus raised their target price on shares of SiTime from $180.00 to $210.00 and gave the company a "buy" rating in a report on Thursday, May 8th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $224.00.

SiTime Company Profile

SiTime Corporation designs, develops, and sells silicon timing systems solutions in Taiwan, Hong Kong, the United States, Singapore, and internationally. The company provides resonators and clock integrated circuits, and various types of oscillators. It serves various markets, including communications, datacenter, enterprise, automotive, industrial, internet of things, mobile, consumer, and aerospace and defense.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.