State of Alaska Department of Revenue Acquires 2,595 Shares of SiTime Corporation $SITM

Key Points

• State of Alaska Department of Revenue increased its stake in SiTime by 21.6%, buying 2,595 shares to hold 14,590 shares (about 0.06% of the company) valued at roughly $5.15 million; institutional investors own 84.31% of the stock.
• SiTime beat quarterly expectations with EPS $1.53 versus $1.20 expected and revenue of $113.29M (up 66.3% YoY), but the company remains unprofitable with a negative net margin (-13.13%) and negative return on equity.
• Analysts' consensus is a Moderate Buy with an average target of $409.38 (seven Buys, one Hold, one Sell) while the stock trades near its 12‑month high (~$446); insiders have sold about 23,759 shares (~$10.11M) in the past 90 days.

State of Alaska Department of Revenue boosted its holdings in shares of SiTime Corporation (NASDAQ:SITM - Free Report) by 21.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 14,590 shares of the company's stock after acquiring an additional 2,595 shares during the quarter. State of Alaska Department of Revenue owned approximately 0.06% of SiTime worth $5,152,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Optiver Holding B.V. raised its position in SiTime by 56.1% during the third quarter. Optiver Holding B.V. now owns 89 shares of the company's stock valued at $27,000 after acquiring an additional 32 shares in the last quarter. Atlas Brown Inc. raised its position in SiTime by 1.6% during the fourth quarter. Atlas Brown Inc. now owns 2,292 shares of the company's stock valued at $810,000 after acquiring an additional 37 shares in the last quarter. Verdence Capital Advisors LLC raised its position in SiTime by 3.7% during the third quarter. Verdence Capital Advisors LLC now owns 1,118 shares of the company's stock valued at $309,000 after acquiring an additional 40 shares in the last quarter. Bessemer Group Inc. raised its position in SiTime by 27.4% during the third quarter. Bessemer Group Inc. now owns 186 shares of the company's stock valued at $55,000 after acquiring an additional 40 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its position in SiTime by 10.9% during the third quarter. Smartleaf Asset Management LLC now owns 427 shares of the company's stock valued at $125,000 after acquiring an additional 42 shares in the last quarter. Institutional investors own 84.31% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on SITM shares. Stifel Nicolaus set a $450.00 price objective on shares of SiTime in a research report on Thursday, February 5th. Barclays set a $400.00 price objective on shares of SiTime in a research report on Thursday, February 5th. Roth Mkm reaffirmed a "buy" rating and set a $450.00 price objective on shares of SiTime in a research report on Thursday, February 5th. UBS Group raised their price objective on shares of SiTime from $430.00 to $485.00 and gave the company a "buy" rating in a research report on Thursday, February 5th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of SiTime in a research report on Thursday, January 22nd. Seven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, SiTime presently has a consensus rating of "Moderate Buy" and an average target price of $409.38.

SiTime Stock Down 0.2%

NASDAQ:SITM opened at $446.04 on Wednesday. SiTime Corporation has a 12 month low of $123.59 and a 12 month high of $460.28. The firm has a market cap of $11.73 billion, a price-to-earnings ratio of -245.08 and a beta of 2.57. The company's 50 day moving average is $379.25 and its 200-day moving average is $343.51.

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

Insider Buying and Selling

In other news, insider Samsheer Ahamad sold 9,100 shares of the firm's stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $441.47, for a total value of $4,017,377.00. Following the sale, the insider owned 52,938 shares in the company, valued at approximately $23,370,538.86. This trade represents a 14.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Piyush B. Sevalia sold 1,249 shares of the firm's stock in a transaction on Wednesday, March 25th. The stock was sold at an average price of $375.00, for a total transaction of $468,375.00. Following the completion of the sale, the insider owned 87,916 shares in the company, valued at approximately $32,968,500. The trade was a 1.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 23,759 shares of company stock valued at $10,111,407. 2.30% of the stock is owned by corporate insiders.

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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