SiTime Corporation $SITM is Lisanti Capital Growth LLC's 5th Largest Position

Key Points

• Lisanti Capital Growth LLC boosted its SiTime stake by 17.7% in the fourth quarter, making SITM its 5th-largest position and about 1.9% of the fund’s portfolio.
• Several analysts turned more bullish on SiTime, including Barclays upgrading the stock to overweight and multiple firms raising price targets to as high as $900. The consensus rating is now Moderate Buy with an average target of $661.88.
• SiTime reported strong quarterly results on May 6, beating EPS and revenue estimates with $1.44 EPS and $113.57 million in revenue, while revenue jumped 88.3% year over year.

Lisanti Capital Growth LLC increased its holdings in SiTime Corporation (NASDAQ:SITM - Free Report) by 17.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,854 shares of the company's stock after purchasing an additional 3,440 shares during the period. SiTime accounts for 1.9% of Lisanti Capital Growth LLC's investment portfolio, making the stock its 5th biggest position. Lisanti Capital Growth LLC owned about 0.09% of SiTime worth $8,072,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in SITM. Royal Bank of Canada grew its position in shares of SiTime by 12.5% in the first quarter. Royal Bank of Canada now owns 4,411 shares of the company's stock valued at $675,000 after purchasing an additional 491 shares during the period. Advisors Asset Management Inc. boosted its holdings in SiTime by 33.6% in the first quarter. Advisors Asset Management Inc. now owns 350 shares of the company's stock valued at $54,000 after acquiring an additional 88 shares during the last quarter. AQR Capital Management LLC boosted its holdings in SiTime by 310.8% in the first quarter. AQR Capital Management LLC now owns 10,754 shares of the company's stock valued at $1,557,000 after acquiring an additional 8,136 shares during the last quarter. Intech Investment Management LLC boosted its holdings in SiTime by 21.6% in the first quarter. Intech Investment Management LLC now owns 8,322 shares of the company's stock valued at $1,272,000 after acquiring an additional 1,477 shares during the last quarter. Finally, M&T Bank Corp acquired a new position in SiTime in the second quarter valued at $240,000. Hedge funds and other institutional investors own 84.31% of the company's stock.

Analyst Ratings Changes

SITM has been the topic of a number of research analyst reports. Barclays upgraded SiTime from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $400.00 to $850.00 in a report on Thursday, May 7th. Weiss Ratings reiterated a "sell (d-)" rating on shares of SiTime in a report on Tuesday, April 21st. Stifel Nicolaus lifted their target price on SiTime from $450.00 to $500.00 and gave the company a "buy" rating in a report on Thursday, April 16th. Needham & Company LLC lifted their target price on SiTime from $450.00 to $850.00 and gave the company a "buy" rating in a report on Thursday, May 7th. Finally, Roth Mkm reiterated a "buy" rating and issued a $900.00 target price on shares of SiTime in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, SiTime currently has an average rating of "Moderate Buy" and a consensus price target of $661.88.

Insider Activity at SiTime

In other SiTime news, Director Raman Chitkara sold 501 shares of the business's stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $425.03, for a total transaction of $212,940.03. Following the transaction, the director owned 21,508 shares in the company, valued at $9,141,545.24. The trade was a 2.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Akira Takata sold 1,500 shares of the business's stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $860.86, for a total value of $1,291,290.00. Following the transaction, the director owned 12,234 shares in the company, valued at approximately $10,531,761.24. This represents a 10.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 12,610 shares of company stock valued at $6,210,444 over the last 90 days. Corporate insiders own 1.40% of the company's stock.

SiTime Price Performance

Shares of SITM opened at $728.56 on Friday. The stock's 50-day moving average is $510.07 and its two-hundred day moving average is $408.52. The stock has a market cap of $19.23 billion, a PE ratio of -721.35 and a beta of 2.91. SiTime Corporation has a 12 month low of $186.49 and a 12 month high of $901.81.

SiTime (NASDAQ:SITM - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $1.44 EPS for the quarter, topping analysts' consensus estimates of $1.14 by $0.30. The company had revenue of $113.57 million for 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 firm's quarterly revenue was up 88.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.26 earnings per share. On average, research analysts anticipate that SiTime Corporation will post 3.23 earnings per share for the current year.

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.

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