Kennedy Capital Management LLC Sells 1,640 Shares of SiTime Corporation $SITM

Kennedy Capital Management LLC lessened its holdings in SiTime Corporation (NASDAQ:SITM) by 10.4% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 14,097 shares of the company’s stock after selling 1,640 shares during the period. Kennedy Capital Management LLC owned about 0.05% of SiTime worth $4,979,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SITM. Rakuten Securities Inc. raised its stake in SiTime by 188.5% during the 4th quarter. Rakuten Securities Inc. now owns 75 shares of the company’s stock worth $26,000 after acquiring an additional 49 shares during the period. Optiver Holding B.V. raised its stake in SiTime by 56.1% during the 3rd quarter. Optiver Holding B.V. now owns 89 shares of the company’s stock worth $27,000 after acquiring an additional 32 shares during the period. Larson Financial Group LLC raised its stake in SiTime by 3,200.0% during the 3rd quarter. Larson Financial Group LLC now owns 99 shares of the company’s stock worth $30,000 after acquiring an additional 96 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in SiTime during the 4th quarter worth approximately $33,000. Finally, Danske Bank A S bought a new stake in SiTime during the 4th quarter worth approximately $35,000. Institutional investors own 84.31% of the company’s stock.

Insider Transactions at SiTime

In related news, Director Raman Chitkara sold 2,000 shares of the firm’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $727.38, for a total value of $1,454,760.00. Following the completion of the transaction, the director directly owned 19,898 shares of the company’s stock, valued at approximately $14,473,407.24. This trade represents a 9.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Fariborz Assaderaghi sold 1,709 shares of the firm’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $731.49, for a total transaction of $1,250,116.41. Following the completion of the transaction, the insider directly owned 81,436 shares of the company’s stock, valued at approximately $59,569,619.64. This trade represents a 2.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 74,624 shares of company stock valued at $52,399,813 in the last 90 days. Company insiders own 1.40% of the company’s stock.

SiTime Price Performance

SiTime stock opened at $742.46 on Tuesday. The stock has a market cap of $19.60 billion, a P/E ratio of -735.11 and a beta of 2.94. SiTime Corporation has a 1 year low of $186.49 and a 1 year high of $901.81. The firm’s 50 day moving average price is $625.95 and its 200-day moving average price is $455.98.

SiTime (NASDAQ:SITM) last released 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. The firm had revenue of $113.57 million for the quarter, compared to analysts’ expectations of $103.51 million. SiTime had a negative net margin of 6.38% and a positive return on equity of 0.53%. The company’s revenue for the quarter was up 88.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.26 earnings per share. As a group, equities analysts expect that SiTime Corporation will post 3.23 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on SITM shares. Wall Street Zen upgraded shares of SiTime from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Stifel Nicolaus raised their target price on shares of SiTime from $450.00 to $500.00 and gave the stock a “buy” rating in a research note on Thursday, April 16th. Roth Mkm restated a “buy” rating and set a $900.00 target price on shares of SiTime in a research note on Thursday, May 7th. Barclays upgraded shares of SiTime from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $400.00 to $850.00 in a research report on Thursday, May 7th. Finally, Zacks Research upgraded shares of SiTime from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, SiTime has a consensus rating of “Moderate Buy” and an average target price 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.