SiTime Corporation $SITM Shares Acquired by Bamco Inc. NY

Key Points

• Bamco Inc. NY raised its stake in SiTime by 33.7% in Q3, buying an additional 44,901 shares to hold 178,103 shares (about $53.66M or 0.68% of the company).
• SiTime beat expectations for the most recent quarter with $1.53 EPS versus $1.20 expected and revenue of $113.29M (up 66.3% YoY), though the company still posts a negative net margin; analysts have a consensus rating of Moderate Buy and a $409.38 price target.
• Company insiders have been net sellers recently—23,263 shares sold in the last 90 days worth about $9.85M—leaving insiders with 2.30% ownership while institutional investors own 84.31%.

Bamco Inc. NY increased its position in SiTime Corporation (NASDAQ:SITM - Free Report) by 33.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 178,103 shares of the company's stock after purchasing an additional 44,901 shares during the quarter. Bamco Inc. NY owned 0.68% of SiTime worth $53,664,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in SITM. Optiver Holding B.V. lifted its holdings in SiTime by 56.1% in the 3rd quarter. Optiver Holding B.V. now owns 89 shares of the company's stock worth $27,000 after buying an additional 32 shares in the last quarter. Hantz Financial Services Inc. grew its stake in shares of SiTime by 190.3% during the third quarter. Hantz Financial Services Inc. now owns 90 shares of the company's stock valued at $27,000 after acquiring an additional 59 shares in the last quarter. Salomon & Ludwin LLC purchased a new stake in shares of SiTime during the third quarter worth about $47,000. Global Retirement Partners LLC increased its position in shares of SiTime by 3,220.0% during the third quarter. Global Retirement Partners LLC now owns 166 shares of the company's stock worth $50,000 after acquiring an additional 161 shares during the last quarter. Finally, Bessemer Group Inc. lifted its stake in shares of SiTime by 27.4% in the third quarter. Bessemer Group Inc. now owns 186 shares of the company's stock worth $55,000 after acquiring an additional 40 shares in the last quarter. 84.31% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Raman Chitkara sold 501 shares of the company's stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $425.03, for a total transaction of $212,940.03. Following the sale, the director directly owned 21,508 shares of the company's stock, valued at approximately $9,141,545.24. This represents a 2.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Akira Takata sold 3,500 shares of the firm's stock in a transaction on Friday, February 6th. The stock was sold at an average price of $431.73, for a total value of $1,511,055.00. Following the transaction, the director owned 13,734 shares in the company, valued at $5,929,379.82. This trade represents a 20.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 23,263 shares of company stock worth $9,851,457. Corporate insiders own 2.30% of the company's stock.

SiTime Stock Performance

NASDAQ:SITM opened at $326.13 on Monday. The company has a market capitalization of $8.58 billion, a price-to-earnings ratio of -179.19 and a beta of 2.53. SiTime Corporation has a one year low of $105.40 and a one year high of $446.95. The stock has a 50-day simple moving average of $375.58 and a 200 day simple moving average of $328.63.

SiTime (NASDAQ:SITM - Get Free Report) last announced its quarterly earnings data on Wednesday, February 4th. The company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.33. SiTime had a negative return on equity of 2.06% and a negative net margin of 13.13%.The firm had revenue of $113.29 million for the quarter, compared to analysts' expectations of $101.91 million. During the same quarter in the prior year, the firm posted $0.48 earnings per share. SiTime's revenue for the quarter was up 66.3% compared to the same quarter last year. On average, equities research analysts forecast that SiTime Corporation will post -2.44 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently commented on SITM. Roth Mkm reissued a "buy" rating and issued a $450.00 price target on shares of SiTime in a report on Thursday, February 5th. The Goldman Sachs Group began coverage on SiTime in a report on Monday, December 15th. They set a "buy" rating and a $420.00 price objective on the stock. Barclays set a $400.00 target price on SiTime in a research report on Thursday, February 5th. Wall Street Zen cut SiTime from a "buy" rating to a "hold" rating in a research note on Saturday. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of SiTime in a research report on Thursday, January 22nd. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $409.38.

SiTime 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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