SiTime Corporation $SITM Shares Bought by Profund Advisors LLC

Profund Advisors LLC lifted its holdings in shares of SiTime Corporation (NASDAQ:SITM) by 225.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,640 shares of the company’s stock after acquiring an additional 1,136 shares during the quarter. Profund Advisors LLC’s holdings in SiTime were worth $1,069,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of SITM. ProShare Advisors LLC grew its stake in SiTime by 282.2% in the 3rd quarter. ProShare Advisors LLC now owns 3,344 shares of the company’s stock valued at $2,180,000 after purchasing an additional 2,469 shares during the period. Vise Technologies Inc. increased its position in shares of SiTime by 51.4% during the 3rd quarter. Vise Technologies Inc. now owns 789 shares of the company’s stock valued at $514,000 after purchasing an additional 268 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its stake in shares of SiTime by 41.2% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,200 shares of the company’s stock worth $782,000 after purchasing an additional 350 shares during the period. BOKF NA bought a new stake in shares of SiTime during the 3rd quarter worth $65,000. Finally, Hanseatic Management Services Inc. raised its stake in shares of SiTime by 2.0% during the 3rd quarter. Hanseatic Management Services Inc. now owns 1,378 shares of the company’s stock worth $898,000 after purchasing an additional 27 shares during the period. 84.31% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on SITM shares. Morgan Stanley began coverage on shares of SiTime in a report on Thursday, September 17th. They issued an “overweight” rating and a $370.00 price target on the stock. Needham & Company LLC raised their price objective on shares of SiTime from $850.00 to $900.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Rosenblatt Securities lifted their price objective on shares of SiTime from $750.00 to $900.00 and gave the stock a “buy” rating in a research report on Tuesday. Wall Street Zen upgraded shares of SiTime from a “hold” rating to a “buy” rating in a research note on Saturday, October 17th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $900.00 target price on shares of SiTime in a research note on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $736.00.

SiTime Stock Performance

Shares of SITM opened at $444.88 on Wednesday. SiTime Corporation has a 1 year low of $243.68 and a 1 year high of $901.81. The company has a debt-to-equity ratio of 1.29, a current ratio of 19.44 and a quick ratio of 18.50. The stock’s fifty day moving average price is $574.53 and its two-hundred day moving average price is $545.83. The firm has a market cap of $13.38 billion, a PE ratio of 213.21 and a beta of 2.88.

SiTime (NASDAQ:SITM) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $2.34 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.39. SiTime had a return on equity of 4.99% and a net margin of 3.01%. The company had revenue of $157.43 million during the quarter, compared to the consensus estimate of $146.46 million. During the same quarter in the prior year, the company earned $0.47 EPS. The firm’s quarterly revenue was up 126.5% compared to the same quarter last year. On average, equities research analysts forecast that SiTime Corporation will post 6.37 EPS for the current year.

Insiders Place Their Bets

In related news, Director Torsten Kreindl sold 1,050 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $721.67, for a total value of $757,753.50. Following the sale, the director directly owned 12,481 shares in the company, valued at approximately $9,007,163.27. The trade was a 7.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Fariborz Assaderaghi sold 1,374 shares of the company’s stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $701.05, for a total transaction of $963,242.70. Following the sale, the insider directly owned 66,861 shares in the company, valued at approximately $46,872,904.05. This trade represents a 2.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 15,924 shares of company stock worth $10,056,661 in the last ninety days. 1.40% of the stock is owned by corporate insiders.

SiTime Profile

SiTime Corporation (NASDAQ: SITM) develops and supplies precision timing solutions for electronic systems. Its products are designed to generate, distribute and maintain accurate timing signals, which help connected devices and infrastructure operate reliably and efficiently.

The company’s portfolio includes silicon MEMS-based resonators and oscillators, clock generators, clock synchronizers, jitter attenuators and other timing components. These products are used in applications such as data centers, telecommunications and networking equipment, automotive systems, industrial machinery, aerospace and defense electronics, and consumer devices.

SiTime’s technology is intended to address demanding requirements for frequency stability, signal integrity, power efficiency and resilience in challenging operating environments.