SiTime Corporation (NASDAQ:SITM) Stock Holdings Increased by Royce & Associates LP

Key Points

• Royce & Associates LP increased its stock position in SiTime Corporation by 200.5% in the first quarter, acquiring an additional 41,316 shares to hold a total of 61,922 shares worth approximately $9.47 million.
• Analysts generally provide a Moderate Buy rating for SiTime, with price targets ranging from $135 to $230, according to recent upgrades by Stifel Nicolaus and Barclays.
• SiTime reported a significant revenue increase of 82.7% year-over-year, reaching $60.31 million, and exceeded earnings expectations with an EPS of $0.26 compared to the consensus estimate of $0.11.

Royce & Associates LP grew its stake in SiTime Corporation (NASDAQ:SITM - Free Report) by 200.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 61,922 shares of the company's stock after purchasing an additional 41,316 shares during the period. Royce & Associates LP owned about 0.26% of SiTime worth $9,466,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Edgestream Partners L.P. acquired a new stake in shares of SiTime during the 1st quarter worth about $1,301,000. Peregrine Investment Management Inc. increased its position in SiTime by 45.8% during the first quarter. Peregrine Investment Management Inc. now owns 52,870 shares of the company's stock worth $8,082,000 after buying an additional 16,610 shares during the period. CWM LLC increased its holdings in shares of SiTime by 69.0% in the first quarter. CWM LLC now owns 453 shares of the company's stock valued at $69,000 after purchasing an additional 185 shares during the period. Emerald Advisers LLC increased its holdings in shares of SiTime by 32.6% in the first quarter. Emerald Advisers LLC now owns 115,433 shares of the company's stock valued at $17,646,000 after purchasing an additional 28,393 shares during the period. Finally, Emerald Mutual Fund Advisers Trust grew its holdings in SiTime by 26.8% during the first quarter. Emerald Mutual Fund Advisers Trust now owns 48,461 shares of the company's stock worth $7,408,000 after acquiring an additional 10,242 shares during the period. Hedge funds and other institutional investors own 84.31% of the company's stock.

SiTime Trading Down 0.0%

NASDAQ:SITM traded down $0.05 on Tuesday, hitting $194.71. 49,221 shares of the stock were exchanged, compared to its average volume of 314,501. The stock has a market cap of $4.62 billion, a PE ratio of -51.10 and a beta of 2.20. The stock has a fifty day moving average of $208.38 and a 200-day moving average of $186.57. SiTime Corporation has a fifty-two week low of $105.40 and a fifty-two week high of $268.18.

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

Wall Street Analysts Forecast Growth

A number of analysts have commented on SITM shares. Stifel Nicolaus boosted 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. Barclays boosted their target price on SiTime from $135.00 to $180.00 and gave the stock an "underweight" rating in a research report on Wednesday, June 11th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to data from MarketBeat, SiTime presently has a consensus rating of "Moderate Buy" and a consensus target price of $228.00.

Insider Activity

In other SiTime news, insider Samsheer Ahamad sold 4,000 shares of the stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $200.00, for a total transaction of $800,000.00. Following the transaction, the insider owned 72,021 shares of the company's stock, valued at $14,404,200. This trade represents a 5.26% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Rajesh Vashist sold 2,000 shares of the firm's stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $215.00, for a total value of $430,000.00. Following the completion of the sale, the chief executive officer directly owned 472,763 shares in the company, valued at approximately $101,644,045. This trade represents a 0.42% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 64,551 shares of company stock worth $13,413,996 over the last quarter. Corporate insiders own 2.10% of the company's stock.

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.