Next Century Growth Investors LLC Sells 22,596 Shares of SiTime Corporation $SITM

Key Points

• Next Century Growth Investors LLC cut its SiTime position by 36.6% in the fourth quarter, selling 22,596 shares and leaving it with 39,199 shares worth about $13.8 million.
• SiTime reported strong quarterly results, with EPS of $1.44 topping estimates of $1.14 and revenue of $113.57 million beating expectations, while revenue rose 88.3% year over year.
• Analysts remain broadly bullish on the stock: several firms raised price targets, and MarketBeat data shows a Moderate Buy consensus with an average target of $661.88.

Next Century Growth Investors LLC decreased its holdings in SiTime Corporation (NASDAQ:SITM - Free Report) by 36.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 39,199 shares of the company's stock after selling 22,596 shares during the quarter. Next Century Growth Investors LLC owned approximately 0.15% of SiTime worth $13,845,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of SITM. Rakuten Securities Inc. raised its position in SiTime by 188.5% in the 4th quarter. Rakuten Securities Inc. now owns 75 shares of the company's stock valued at $26,000 after purchasing an additional 49 shares during the last quarter. Hantz Financial Services Inc. raised its position in SiTime by 190.3% in the 3rd quarter. Hantz Financial Services Inc. now owns 90 shares of the company's stock valued at $27,000 after purchasing an additional 59 shares during the last quarter. Optiver Holding B.V. raised its position in SiTime by 56.1% in the 3rd quarter. Optiver Holding B.V. now owns 89 shares of the company's stock valued at $27,000 after purchasing an additional 32 shares during the last quarter. Larson Financial Group LLC raised its position in SiTime by 3,200.0% in the 3rd quarter. Larson Financial Group LLC now owns 99 shares of the company's stock valued at $30,000 after purchasing an additional 96 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new position in SiTime in the 4th quarter valued at $33,000. Institutional investors own 84.31% of the company's stock.

SiTime Stock Performance

NASDAQ SITM opened at $729.89 on Friday. The stock has a fifty day moving average of $618.04 and a 200-day moving average of $451.56. The stock has a market capitalization of $19.27 billion, a P/E ratio of -722.66 and a beta of 2.94. SiTime Corporation has a 52 week low of $186.49 and a 52 week high of $901.81.

SiTime (NASDAQ:SITM - Get Free Report) last released its earnings results on Wednesday, May 6th. The company reported $1.44 EPS for the quarter, beating the consensus estimate of $1.14 by $0.30. The company had revenue of $113.57 million during the quarter, compared to analysts' expectations of $103.51 million. SiTime had a positive return on equity of 0.53% and a negative net margin of 6.38%.The business's revenue for the quarter was up 88.3% on a year-over-year basis. During the same period last year, the firm earned $0.26 EPS. Equities research analysts forecast that SiTime Corporation will post 3.23 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Christine Heckart sold 1,290 shares of SiTime stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $700.00, for a total value of $903,000.00. Following the completion of the sale, the director directly owned 790 shares of the company's stock, valued at approximately $553,000. This trade represents a 62.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Torsten Kreindl sold 710 shares of SiTime stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $720.00, for a total value of $511,200.00. Following the completion of the sale, the director directly owned 13,141 shares of the company's stock, valued at $9,461,520. This trade represents a 5.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 52,624 shares of company stock worth $35,942,053. 1.40% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

SITM has been the subject of several research analyst reports. Zacks Research upgraded SiTime from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 15th. Roth Mkm reiterated a "buy" rating and issued a $900.00 price objective on shares of SiTime in a research report on Thursday, May 7th. The Goldman Sachs Group reiterated a "buy" rating and issued a $800.00 price objective on shares of SiTime in a research report on Thursday, May 7th. UBS Group lifted their price objective on SiTime from $675.00 to $775.00 and gave the company a "buy" rating in a research report on Thursday, May 7th. Finally, Needham & Company LLC lifted their price objective on SiTime from $450.00 to $850.00 and gave the company a "buy" rating in a research report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, SiTime has an average rating of "Moderate Buy" and an average price target of $661.88.

SiTime Company Profile

SiTime Corporation is a fabless semiconductor company specializing in silicon timing solutions that leverage micro-electromechanical systems (MEMS) technology as an alternative to traditional quartz crystals. Its portfolio of programmable oscillators, resonators, clock generators, jitter attenuators and network synchronizers addresses precision timekeeping requirements across a wide range of electronic systems. By integrating MEMS resonators with advanced mixed-signal control circuitry, SiTime's products offer enhanced reliability, resistance to shock and vibration, and a smaller footprint compared with conventional quartz devices.

The company's timing devices serve diverse end markets, including telecommunications infrastructure, data center and enterprise networking, consumer electronics, automotive systems, industrial automation, and aerospace and defense applications.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.