Next Century Growth Investors LLC Takes Position in SiTime Corporation $SITM

Key Points

• Next Century Growth Investors LLC acquired 19,458 shares of SiTime Corporation for approximately $2.975 million, representing about 0.08% of the company's stock at the end of the reporting period.
• SiTime's stock recently opened at $238.75, with a market capitalization of $6.21 billion and showing a 52-week performance ranging from a low of $105.40 to a high of $268.18.
• SiTime reported earnings per share of $0.47 for the last quarter, significantly surpassing analysts' expectations, with a strong revenue increase of 58.3% year-over-year.

Next Century Growth Investors LLC purchased a new stake in SiTime Corporation (NASDAQ:SITM - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 19,458 shares of the company's stock, valued at approximately $2,975,000. Next Century Growth Investors LLC owned about 0.08% of SiTime at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of SITM. Fourth Dimension Wealth LLC purchased a new stake in SiTime in the 4th quarter valued at $25,000. Opal Wealth Advisors LLC purchased a new position in SiTime during the 1st quarter worth $32,000. CWM LLC raised its position in SiTime by 69.0% during the 1st quarter. CWM LLC now owns 453 shares of the company's stock worth $69,000 after buying an additional 185 shares during the last quarter. Lazard Asset Management LLC acquired a new position in shares of SiTime during the 4th quarter worth $81,000. Finally, Aquatic Capital Management LLC acquired a new position in shares of SiTime during the 4th quarter worth $192,000. Hedge funds and other institutional investors own 84.31% of the company's stock.

SiTime Stock Down 2.9%

SITM opened at $238.75 on Thursday. The firm has a market capitalization of $6.21 billion, a P/E ratio of -68.61 and a beta of 2.20. The firm's 50 day moving average is $211.86 and its 200-day moving average is $185.89. SiTime Corporation has a 52-week low of $105.40 and a 52-week high of $268.18.

SiTime (NASDAQ:SITM - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.47 earnings per share for the quarter, topping analysts' consensus estimates of $0.29 by $0.18. SiTime had a negative net margin of 32.15% and a negative return on equity of 7.54%. The business had revenue of $69.49 million during the quarter, compared to the consensus estimate of $64.66 million. During the same quarter last year, the company earned $0.12 earnings per share. The business's quarterly revenue was up 58.3% compared to the same quarter last year. Equities analysts expect that SiTime Corporation will post -2.44 earnings per share for the current fiscal year.

Insider Transactions at SiTime

In other SiTime news, EVP Elizabeth A. Howe sold 1,500 shares of SiTime stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $208.00, for a total value of $312,000.00. Following the completion of the transaction, the executive vice president owned 71,474 shares of the company's stock, valued at $14,866,592. The trade was a 2.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Piyush B. Sevalia sold 1,661 shares of the business's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $193.99, for a total transaction of $322,217.39. Following the transaction, the insider directly owned 87,216 shares of the company's stock, valued at approximately $16,919,031.84. This trade represents a 1.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,861 shares of company stock valued at $5,006,357 over the last quarter. Insiders own 2.10% of the company's stock.

Analyst Upgrades and Downgrades

SITM has been the topic of a number of recent analyst reports. UBS Group began coverage on shares of SiTime in a research note on Thursday, August 14th. They set a "buy" rating and a $260.00 price target on the stock. Stifel Nicolaus raised their price target on shares of SiTime from $210.00 to $230.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Finally, Barclays increased their price objective on shares of SiTime from $180.00 to $220.00 and gave the stock an "underweight" rating in a report on Thursday, August 7th. Five research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $240.00.

About SiTime

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.

Want to see what other hedge funds are holding SITM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SiTime Corporation (NASDAQ:SITM - Free Report).

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.