Clough Capital Partners L P Boosts Stock Holdings in SiTime Corporation $SITM

Clough Capital Partners L P grew its stake in SiTime Corporation (NASDAQ:SITM) by 33.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,871 shares of the company’s stock after purchasing an additional 1,213 shares during the period. Clough Capital Partners L P’s holdings in SiTime were worth $1,720,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in SITM. Rakuten Securities Inc. grew its position in shares of SiTime by 188.5% in the fourth quarter. Rakuten Securities Inc. now owns 75 shares of the company’s stock valued at $26,000 after purchasing an additional 49 shares in the last quarter. Optiver Holding B.V. grew its position in shares of SiTime by 56.1% in the third quarter. Optiver Holding B.V. now owns 89 shares of the company’s stock valued at $27,000 after purchasing an additional 32 shares in the last quarter. Larson Financial Group LLC grew its position in shares of SiTime by 3,200.0% in the third quarter. Larson Financial Group LLC now owns 99 shares of the company’s stock valued at $30,000 after purchasing an additional 96 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of SiTime in the fourth quarter valued at approximately $33,000. Finally, Danske Bank A S purchased a new stake in shares of SiTime in the fourth quarter valued at approximately $35,000. 84.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SITM has been the subject of a number of analyst reports. Zacks Research upgraded SiTime from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 15th. Wall Street Zen upgraded SiTime from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. UBS Group upped their price target on SiTime from $675.00 to $775.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Roth Mkm restated a “buy” rating and issued a $900.00 price target on shares of SiTime in a research report on Thursday, May 7th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $800.00 price target on shares of SiTime in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, SiTime currently has a consensus rating of “Moderate Buy” and an average target price of $661.88.

SiTime Stock Performance

SITM opened at $677.21 on Thursday. The business’s 50 day moving average price is $638.97 and its 200 day moving average price is $461.49. SiTime Corporation has a one year low of $186.49 and a one year high of $901.81. The stock has a market capitalization of $17.88 billion, a PE ratio of -670.50 and a beta of 2.94.

SiTime (NASDAQ:SITM) last released its quarterly earnings results on Wednesday, May 6th. The company reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.30. SiTime had a positive return on equity of 0.53% and a negative net margin of 6.38%.The company had revenue of $113.57 million for the quarter, compared to analysts’ expectations of $103.51 million. During the same period in the prior year, the firm earned $0.26 earnings per share. The firm’s revenue was up 88.3% compared to the same quarter last year. As a group, equities research analysts forecast that SiTime Corporation will post 3.23 earnings per share for the current fiscal year.

Insider Activity at SiTime

In other news, Director Raman Chitkara sold 2,000 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $727.38, for a total value of $1,454,760.00. Following the sale, the director directly owned 19,898 shares in the company, valued at approximately $14,473,407.24. This trade represents a 9.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Piyush B. Sevalia sold 2,419 shares of the stock in a transaction on Friday, April 17th. The shares were sold at an average price of $484.05, for a total value of $1,170,916.95. Following the completion of the sale, the insider owned 84,250 shares in the company, valued at approximately $40,781,212.50. The trade was a 2.79% 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 74,624 shares of company stock valued at $52,399,813 over the last ninety days. 1.40% of the stock is owned by insiders.

SiTime Company 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.