Values First Advisors Inc. Purchases New Position in SiTime Corporation (NASDAQ:SITM)

Values First Advisors Inc. purchased a new stake in shares of SiTime Corporation (NASDAQ:SITM - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 1,436 shares of the company's stock, valued at approximately $219,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of SITM. GAMMA Investing LLC raised its holdings in SiTime by 27,559.1% in the 1st quarter. GAMMA Investing LLC now owns 261,102 shares of the company's stock worth $39,915,000 after purchasing an additional 260,158 shares during the period. Invesco Ltd. raised its holdings in SiTime by 11.0% in the 4th quarter. Invesco Ltd. now owns 983,175 shares of the company's stock worth $210,921,000 after purchasing an additional 97,062 shares during the period. Hood River Capital Management LLC raised its holdings in SiTime by 27.0% in the 4th quarter. Hood River Capital Management LLC now owns 421,960 shares of the company's stock worth $90,523,000 after purchasing an additional 89,632 shares during the period. Emerald Advisers LLC bought a new position in SiTime in the 4th quarter worth $18,673,000. Finally, Capital World Investors bought a new position in SiTime in the 4th quarter worth $17,654,000. 84.31% of the stock is owned by institutional investors.

SiTime Stock Down 0.4%

SITM stock traded down $0.87 during trading on Thursday, reaching $209.70. The company's stock had a trading volume of 106,481 shares, compared to its average volume of 267,346. SiTime Corporation has a 1 year low of $105.40 and a 1 year high of $268.18. The company has a market capitalization of $4.97 billion, a P/E ratio of -55.19 and a beta of 2.20. The company's fifty day moving average is $204.17 and its 200-day moving average is $189.14.

SiTime (NASDAQ:SITM - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.26 earnings per share for the quarter, beating analysts' consensus estimates of $0.11 by $0.15. The firm had revenue of $60.31 million during the quarter, compared to analyst estimates of $54.01 million. SiTime had a negative return on equity of 9.43% and a negative net margin of 38.60%. The business's quarterly revenue was up 82.7% compared to the same quarter last year. During the same quarter last year, the business posted ($0.08) earnings per share. Analysts anticipate that SiTime Corporation will post -2.44 earnings per share for the current year.

Insider Activity

In other news, insider Vincent P. Pangrazio sold 5,026 shares of the firm's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $204.55, for a total transaction of $1,028,068.30. Following the completion of the transaction, the insider owned 64,842 shares in the company, valued at $13,263,431.10. This trade represents a 7.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Fariborz Assaderaghi sold 5,112 shares of the firm's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $205.53, for a total value of $1,050,669.36. Following the transaction, the insider owned 107,204 shares of the company's stock, valued at approximately $22,033,638.12. The trade was a 4.55% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 63,818 shares of company stock valued at $13,171,258. 2.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on SITM shares. Barclays raised their target price on SiTime from $135.00 to $180.00 and gave the stock an "underweight" rating in a report on Wednesday, June 11th. Stifel Nicolaus raised their target price on SiTime from $180.00 to $210.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $224.00.

About SiTime

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.