Values First Advisors Inc. purchased a new position in shares of SiTime Corporation (NASDAQ:SITM - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,436 shares of the company's stock, valued at approximately $219,000.
Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of SiTime by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 2,468,348 shares of the company's stock worth $529,535,000 after purchasing an additional 52,310 shares in the last quarter. Invesco Ltd. increased its stake in shares of SiTime by 11.0% during 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 in the last quarter. Ameriprise Financial Inc. increased its stake in shares of SiTime by 16.1% during the 4th quarter. Ameriprise Financial Inc. now owns 515,735 shares of the company's stock worth $110,641,000 after purchasing an additional 71,658 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of SiTime by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 442,897 shares of the company's stock worth $95,037,000 after purchasing an additional 1,975 shares in the last quarter. Finally, Hood River Capital Management LLC increased its stake in shares of SiTime by 27.0% during 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 in the last quarter. 84.31% of the stock is owned by hedge funds and other institutional investors.
SiTime Trading Down 2.1%
Shares of SITM traded down $4.38 during mid-day trading on Friday, reaching $205.09. The company had a trading volume of 56,194 shares, compared to its average volume of 320,418. The stock has a market cap of $4.86 billion, a price-to-earnings ratio of -54.00 and a beta of 2.20. The firm has a fifty day simple moving average of $205.23 and a 200-day simple moving average of $189.07. SiTime Corporation has a fifty-two week low of $105.40 and a fifty-two week high of $268.18.
SiTime (NASDAQ:SITM - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $60.31 million for the quarter, compared to analyst estimates of $54.01 million. SiTime had a negative net margin of 38.60% and a negative return on equity of 9.43%. SiTime's revenue for the quarter was up 82.7% on a year-over-year basis. During the same quarter last year, the business earned ($0.08) EPS. As a group, equities analysts predict that SiTime Corporation will post -2.44 EPS for the current fiscal year.
Analyst Ratings Changes
A number of brokerages have recently weighed in on SITM. Stifel Nicolaus raised their price objective on shares of SiTime from $180.00 to $210.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Barclays lifted their target price on shares of SiTime from $135.00 to $180.00 and gave the stock an "underweight" rating in a research note on Wednesday, June 11th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $224.00.
Check Out Our Latest Stock Analysis on SITM
Insider Buying and Selling
In other SiTime news, Director Tom Dang-Hsing Yiu sold 2,115 shares of SiTime stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $200.00, for a total value of $423,000.00. Following the transaction, the director owned 18,500 shares in the company, valued at $3,700,000. This trade represents a 10.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Fariborz Assaderaghi sold 5,112 shares of SiTime stock in a transaction on Monday, May 19th. The shares were sold at an average price of $205.53, for a total transaction of $1,050,669.36. Following the transaction, the insider owned 107,204 shares in the company, valued at $22,033,638.12. The trade was a 4.55% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 63,818 shares of company stock worth $13,171,258 over the last 90 days. Company insiders own 2.10% of the company's stock.
About SiTime
(
Free Report)
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.
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