SiTime Corporation $SITM Stock Holdings Lessened by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors cut its SiTime stake by 39.5% in the first quarter, selling 69,859 shares and retaining 107,013 shares worth approximately $36.9 million. Institutional investors collectively own 84.31% of the company.
• SiTime reported strong quarterly results, with EPS of $1.44 versus the $1.14 consensus and revenue of $113.57 million, up 88.3% year over year. However, the company posted a negative net margin of 6.38%.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $661.88. Shares opened at $550.32, after trading between $187.56 and $901.81 over the past year, while insiders have sold about $50.2 million of stock in the last 90 days.

Dimensional Fund Advisors LP trimmed its stake in SiTime Corporation (NASDAQ:SITM - Free Report) by 39.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 107,013 shares of the company's stock after selling 69,859 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.41% of SiTime worth $36,909,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of SITM. Rakuten Securities Inc. raised its holdings in SiTime by 188.5% during the 4th quarter. Rakuten Securities Inc. now owns 75 shares of the company's stock worth $26,000 after buying an additional 49 shares during the period. Parallel Advisors LLC boosted its holdings in shares of SiTime by 26.2% in the first quarter. Parallel Advisors LLC now owns 77 shares of the company's stock worth $27,000 after buying an additional 16 shares during the period. Larson Financial Group LLC increased its position in shares of SiTime by 3,200.0% in the third quarter. Larson Financial Group LLC now owns 99 shares of the company's stock worth $30,000 after acquiring an additional 96 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of SiTime in the fourth quarter worth approximately $33,000. Finally, Danske Bank A S acquired a new stake in shares of SiTime during the fourth quarter valued at approximately $35,000. 84.31% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at SiTime

In other SiTime news, insider Fariborz Assaderaghi sold 1,709 shares of the stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $731.49, for a total transaction of $1,250,116.41. Following the transaction, the insider directly owned 81,436 shares of the company's stock, valued at $59,569,619.64. This represents a 2.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Christine Heckart sold 1,290 shares of the firm's stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $700.00, for a total value of $903,000.00. Following the completion of the transaction, the director directly owned 790 shares in the company, valued at $553,000. The trade was a 62.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 69,709 shares of company stock worth $50,230,546 in the last ninety days. Company insiders own 1.40% of the company's stock.

SiTime Price Performance

Shares of NASDAQ SITM opened at $550.32 on Tuesday. SiTime Corporation has a one year low of $187.56 and a one year high of $901.81. The business's 50-day moving average price is $643.93 and its two-hundred day moving average price is $522.31. The company has a market capitalization of $14.53 billion, a P/E ratio of -544.87 and a beta of 2.94.

SiTime (NASDAQ:SITM - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $1.44 EPS for the quarter, beating the consensus estimate of $1.14 by $0.30. The business had revenue of $113.57 million during 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.26 EPS. On average, equities analysts anticipate that SiTime Corporation will post 3.23 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SITM. Barclays upgraded shares of SiTime from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $400.00 to $850.00 in a research report on Thursday, May 7th. UBS Group raised their target price on SiTime from $675.00 to $775.00 and gave the stock a "buy" rating in a research report on Thursday, May 7th. Wall Street Zen upgraded SiTime from a "hold" rating to a "buy" rating in a report on Sunday, July 12th. Roth Capital reissued a "buy" rating and set a $900.00 price target on shares of SiTime in a research report on Thursday, May 7th. Finally, Needham & Company LLC increased their price objective on SiTime from $450.00 to $850.00 and gave the stock a "buy" rating in a research note on Thursday, May 7th. Eight equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $661.88.

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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