Roubaix Capital LLC Makes New $2.97 Million Investment in SiTime Corporation (NASDAQ:SITM)

Key Points

• Roubaix Capital LLC made a new investment in SiTime Corporation worth approximately $2.97 million, acquiring 19,442 shares during the first quarter.
• SiTime's stock has experienced a 2.3% decline, with recent trading at $221.44 and a market cap of $5.76 billion.
• Insiders have sold a total of 46,783 shares valued at $9.7 million in the last 90 days, reflecting a decrease in their ownership stake.

Roubaix Capital LLC purchased a new stake in shares of SiTime Corporation (NASDAQ:SITM - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 19,442 shares of the company's stock, valued at approximately $2,972,000. Roubaix Capital LLC owned 0.08% of SiTime as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Fourth Dimension Wealth LLC purchased a new position in shares of SiTime during the 4th quarter worth about $25,000. Opal Wealth Advisors LLC bought a new stake in shares of SiTime during the 1st quarter worth approximately $32,000. CWM LLC boosted its holdings in SiTime by 69.0% during the 1st quarter. CWM LLC now owns 453 shares of the company's stock valued at $69,000 after acquiring an additional 185 shares during the period. Lazard Asset Management LLC purchased a new position in SiTime during the 4th quarter valued at $81,000. Finally, Aquatic Capital Management LLC bought a new position in SiTime in the 4th quarter valued at $192,000. 84.31% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other SiTime news, insider Samsheer Ahamad sold 4,000 shares of the firm's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $200.00, for a total value of $800,000.00. Following the completion of the transaction, the insider owned 72,021 shares of the company's stock, valued at approximately $14,404,200. This trade represents a 5.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Elizabeth A. Howe sold 1,500 shares of SiTime stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $208.00, for a total transaction of $312,000.00. Following the sale, 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 46,783 shares of company stock valued at $9,708,517. 2.10% of the stock is currently owned by corporate insiders.

SiTime Stock Down 2.3%

Shares of SiTime stock opened at $221.44 on Friday. The company has a market cap of $5.76 billion, a P/E ratio of -63.63 and a beta of 2.20. The firm's 50 day moving average price is $209.73 and its 200-day moving average price is $184.15. 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 (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.18. The business had revenue of $69.49 million for the quarter, compared to analyst estimates of $64.66 million. SiTime had a negative net margin of 32.15% and a negative return on equity of 7.54%. The business's revenue for the quarter was up 58.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.12 earnings per share. As a group, equities research analysts forecast that SiTime Corporation will post -2.44 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on SITM. Stifel Nicolaus lifted their target price on SiTime from $210.00 to $230.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. UBS Group initiated coverage on shares of SiTime in a research report on Thursday. They set a "buy" rating and a $260.00 target price on the stock. Finally, Barclays boosted their price target on SiTime from $180.00 to $220.00 and gave the company an "underweight" rating in a report on Thursday, August 7th. One research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target 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.

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