Trillium Asset Management LLC Buys 16,211 Shares of SiTime Corporation (NASDAQ:SITM)

Key Points

• Trillium Asset Management LLC increased its stake in SiTime Corporation by 51.4%, owning approximately 0.20% of the company worth $7.3 million after acquiring 16,211 additional shares.
• Insider transactions revealed that two executives sold a total of 2,500 shares, with the insider ownership decreasing by 2.30% overall, indicating a potential shift in confidence among key personnel.
• Analysts have revised SiTime's target price upward, with estimates ranging from $220 to $230, and the company's stock is currently rated as a "Moderate Buy."

Trillium Asset Management LLC raised its stake in shares of SiTime Corporation (NASDAQ:SITM - Free Report) by 51.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 47,732 shares of the company's stock after acquiring an additional 16,211 shares during the quarter. Trillium Asset Management LLC owned approximately 0.20% of SiTime worth $7,296,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Fourth Dimension Wealth LLC bought a new position in shares of SiTime during the 4th quarter valued at about $25,000. Opal Wealth Advisors LLC bought a new position in shares of SiTime during the 1st quarter valued at about $32,000. CWM LLC lifted its holdings in shares of SiTime by 69.0% during the 1st quarter. CWM LLC now owns 453 shares of the company's stock valued at $69,000 after purchasing an additional 185 shares in the last quarter. Lazard Asset Management LLC bought a new position in shares of SiTime during the 4th quarter valued at about $81,000. Finally, Aquatic Capital Management LLC bought a new position in shares of SiTime during the 4th quarter valued at about $192,000. 84.31% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on SITM shares. Barclays raised their price target on SiTime from $180.00 to $220.00 and gave the company an "underweight" rating in a report on Thursday, August 7th. Stifel Nicolaus lifted their target price on SiTime from $210.00 to $230.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Finally, UBS Group started coverage on SiTime in a report on Thursday. They set a "buy" rating and a $260.00 target price for the company. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $240.00.

SiTime Stock Down 2.3%

NASDAQ SITM traded down $5.30 on Friday, reaching $221.44. The company had a trading volume of 355,399 shares, compared to its average volume of 388,986. SiTime Corporation has a 52-week low of $105.40 and a 52-week high of $268.18. The stock has a market capitalization of $5.76 billion, a P/E ratio of -63.63 and a beta of 2.20. The company's fifty day moving average is $209.73 and its 200 day moving average is $184.15.

SiTime (NASDAQ:SITM - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.18. SiTime had a negative return on equity of 7.54% and a negative net margin of 32.15%. The company had revenue of $69.49 million during the quarter, compared to analyst estimates of $64.66 million. During the same quarter last year, the firm posted $0.12 EPS. The firm's revenue for the quarter was up 58.3% on a year-over-year basis. On average, research analysts expect that SiTime Corporation will post -2.44 EPS for the current year.

Insider Buying and Selling

In other SiTime news, insider Piyush B. Sevalia sold 1,039 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $220.00, for a total value of $228,580.00. Following the completion of the sale, the insider owned 85,516 shares in the company, valued at approximately $18,813,520. The trade was a 1.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Samsheer Ahamad sold 4,000 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $200.00, for a total value of $800,000.00. Following the completion of the sale, the insider owned 72,021 shares of the company's stock, valued at $14,404,200. The trade was a 5.26% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 46,783 shares of company stock worth $9,708,517 in the last quarter. 2.10% of the stock is currently owned by company insiders.

SiTime Profile

SiTime Corporation designs, develops, and sells silicon timing systems solutions in Taiwan, Hong Kong, the United States, Singapore, and internationally. The company provides resonators and clock integrated circuits, and various types of oscillators. It serves various markets, including communications, datacenter, enterprise, automotive, industrial, internet of things, mobile, consumer, and aerospace and defense.