Towarzystwo Funduszy Inwestycyjnych PZU SA Makes New Investment in SiTime Corporation $SITM

Key Points

• Towarzystwo Funduszy Inwestycyjnych PZU SA opened a new position in SiTime, buying 2,425 shares worth about $856,000 in the fourth quarter.
• Several other institutional investors also increased or initiated stakes, and 84.31% of SiTime’s stock is held by institutions, while corporate insiders own just 1.40%.
• SiTime reported better-than-expected quarterly results, with EPS of $1.44 versus $1.14 expected and revenue up 88.3% year over year, while analysts currently rate the stock a Moderate Buy with an average price target of $661.88.

Towarzystwo Funduszy Inwestycyjnych PZU SA purchased a new stake in SiTime Corporation (NASDAQ:SITM - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,425 shares of the company's stock, valued at approximately $856,000.

A number of other institutional investors and hedge funds also recently modified their holdings of SITM. Rakuten Securities Inc. increased its stake in shares of SiTime by 188.5% in the 4th quarter. Rakuten Securities Inc. now owns 75 shares of the company's stock valued at $26,000 after acquiring an additional 49 shares during the last quarter. Hantz Financial Services Inc. increased its stake in shares of SiTime by 190.3% in the 3rd quarter. Hantz Financial Services Inc. now owns 90 shares of the company's stock valued at $27,000 after acquiring an additional 59 shares during the last quarter. Optiver Holding B.V. increased its stake in shares of SiTime by 56.1% in the 3rd quarter. Optiver Holding B.V. now owns 89 shares of the company's stock valued at $27,000 after acquiring an additional 32 shares during the last quarter. Larson Financial Group LLC increased its stake in shares of SiTime by 3,200.0% in the 3rd quarter. Larson Financial Group LLC now owns 99 shares of the company's stock valued at $30,000 after acquiring an additional 96 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of SiTime in the 4th quarter valued at about $33,000. 84.31% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Christine Heckart sold 1,290 shares of the business's stock in a transaction that occurred on Tuesday, June 2nd. The stock was 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 approximately $553,000. The trade was a 62.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Piyush B. Sevalia sold 2,419 shares of the company's stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $484.05, for a total value of $1,170,916.95. Following the transaction, the insider directly owned 84,250 shares of the company's stock, valued at approximately $40,781,212.50. This trade represents a 2.79% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 52,624 shares of company stock worth $35,942,053 in the last three months. 1.40% of the stock is owned by corporate insiders.

SiTime Stock Performance

Shares of SITM opened at $729.89 on Monday. The stock has a 50 day simple moving average of $618.04 and a 200 day simple moving average of $452.77. SiTime Corporation has a 52-week low of $186.49 and a 52-week high of $901.81. The firm has a market capitalization of $19.27 billion, a PE ratio of -722.66 and a beta of 2.94.

SiTime (NASDAQ:SITM - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.30. SiTime had a positive return on equity of 0.53% and a negative net margin of 6.38%.The business had revenue of $113.57 million during the quarter, compared to analyst estimates of $103.51 million. During the same period in the previous year, the firm earned $0.26 EPS. SiTime's quarterly revenue was up 88.3% compared to the same quarter last year. Equities research analysts predict that SiTime Corporation will post 3.23 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SITM. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $800.00 price target on shares of SiTime in a research note on Thursday, May 7th. Barclays raised SiTime from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $400.00 to $850.00 in a research note on Thursday, May 7th. Wall Street Zen raised SiTime from a "hold" rating to a "buy" rating in a research note on Saturday, May 9th. Roth Mkm reaffirmed a "buy" rating and issued a $900.00 price target on shares of SiTime in a research note on Thursday, May 7th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of SiTime in a research note on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $661.88.

About SiTime

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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