15,503 Shares in SiTime Corporation $SITM Bought by Portolan Capital Management LLC

Portolan Capital Management LLC acquired a new position in SiTime Corporation (NASDAQ:SITM) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 15,503 shares of the company’s stock, valued at approximately $4,671,000. Portolan Capital Management LLC owned approximately 0.06% of SiTime at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Optiver Holding B.V. grew its position in shares of SiTime by 56.1% in the 3rd quarter. Optiver Holding B.V. now owns 89 shares of the company’s stock worth $27,000 after buying an additional 32 shares during the period. Hantz Financial Services Inc. lifted its position in SiTime by 190.3% during 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 period. Salomon & Ludwin LLC bought a new stake in SiTime during the third quarter worth about $47,000. Global Retirement Partners LLC boosted its stake in SiTime by 3,220.0% during the third quarter. Global Retirement Partners LLC now owns 166 shares of the company’s stock worth $50,000 after acquiring an additional 161 shares in the last quarter. Finally, Bessemer Group Inc. grew its holdings in SiTime by 27.4% in the third quarter. Bessemer Group Inc. now owns 186 shares of the company’s stock worth $55,000 after purchasing an additional 40 shares during the period. Hedge funds and other institutional investors own 84.31% of the company’s stock.

Insiders Place Their Bets

In other SiTime news, insider Samsheer Ahamad sold 9,100 shares of the stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $441.47, for a total transaction of $4,017,377.00. Following the sale, the insider directly owned 52,938 shares in the company, valued at approximately $23,370,538.86. This trade represents a 14.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Fariborz Assaderaghi sold 4,984 shares of SiTime stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $406.45, for a total value of $2,025,746.80. Following the completion of the sale, the insider directly owned 89,194 shares of the company’s stock, valued at approximately $36,252,901.30. The trade was a 5.29% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 23,263 shares of company stock worth $9,851,457 in the last three months. Corporate insiders own 2.10% of the company’s stock.

Analyst Ratings Changes

SITM has been the subject of a number of analyst reports. Roth Mkm reaffirmed a “buy” rating and set a $450.00 target price on shares of SiTime in a research note on Thursday, February 5th. The Goldman Sachs Group assumed coverage on SiTime in a research report on Monday, December 15th. They issued a “buy” rating and a $420.00 price target on the stock. Wall Street Zen downgraded SiTime from a “buy” rating to a “hold” rating in a research note on Saturday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SiTime in a research report on Thursday, January 22nd. Finally, Needham & Company LLC lifted their price objective on SiTime from $400.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday, February 5th. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $409.38.

SiTime Stock Performance

Shares of SiTime stock opened at $326.13 on Friday. The company has a 50-day simple moving average of $375.58 and a two-hundred day simple moving average of $327.43. The stock has a market capitalization of $8.58 billion, a PE ratio of -179.19 and a beta of 2.53. SiTime Corporation has a 52-week low of $105.40 and a 52-week high of $446.95.

SiTime (NASDAQ:SITM) last posted 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. The firm had revenue of $113.29 million for the quarter, compared to analysts’ expectations of $101.91 million. SiTime had a negative net margin of 13.13% and a negative return on equity of 2.06%. The business’s revenue for the quarter was up 66.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.48 earnings per share. As a group, equities research analysts forecast that SiTime Corporation will post -2.44 EPS for the current fiscal year.

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.