SiTime Corporation $SITM Shares Purchased by Universal Beteiligungs und Servicegesellschaft mbH

Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in SiTime Corporation (NASDAQ:SITM) by 21.2% during the third quarter, HoldingsChannel reports. The firm owned 44,363 shares of the company’s stock after buying an additional 7,772 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in SiTime were worth $13,367,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Royal Bank of Canada lifted its position in SiTime by 12.5% during the 1st quarter. Royal Bank of Canada now owns 4,411 shares of the company’s stock worth $675,000 after acquiring an additional 491 shares during the period. Advisors Asset Management Inc. increased its holdings in shares of SiTime by 33.6% in the first quarter. Advisors Asset Management Inc. now owns 350 shares of the company’s stock valued at $54,000 after purchasing an additional 88 shares during the period. AQR Capital Management LLC raised its stake in shares of SiTime by 310.8% during the first quarter. AQR Capital Management LLC now owns 10,754 shares of the company’s stock worth $1,557,000 after purchasing an additional 8,136 shares during the last quarter. Intech Investment Management LLC lifted its holdings in shares of SiTime by 21.6% during the first quarter. Intech Investment Management LLC now owns 8,322 shares of the company’s stock worth $1,272,000 after purchasing an additional 1,477 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in shares of SiTime by 53.5% during the second quarter. GAMMA Investing LLC now owns 2,622 shares of the company’s stock worth $559,000 after purchasing an additional 914 shares during the period. 84.31% of the stock is owned by hedge funds and other institutional investors.

SiTime Stock Down 5.5%

Shares of NASDAQ SITM opened at $342.90 on Friday. SiTime Corporation has a 52 week low of $105.40 and a 52 week high of $393.80. The firm has a 50-day moving average price of $340.98 and a 200 day moving average price of $284.37. The stock has a market capitalization of $8.95 billion, a price-to-earnings ratio of -115.84 and a beta of 2.49.

SiTime (NASDAQ:SITM) last issued its earnings results on Wednesday, November 5th. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.16. SiTime had a negative net margin of 25.18% and a negative return on equity of 5.69%. The company had revenue of $83.57 million for the quarter, compared to analyst estimates of $78.08 million. During the same period in the prior year, the business posted $0.40 earnings per share. The firm’s revenue for the quarter was up 44.8% compared to the same quarter last year. Equities research analysts expect that SiTime Corporation will post -2.44 EPS for the current fiscal year.

Insider Activity at SiTime

In related news, CEO Rajesh Vashist sold 10,000 shares of SiTime stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $329.00, for a total transaction of $3,290,000.00. Following the completion of the transaction, the chief executive officer directly owned 439,208 shares of the company’s stock, valued at approximately $144,499,432. The trade was a 2.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Fariborz Assaderaghi sold 1,500 shares of the business’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $291.58, for a total value of $437,370.00. Following the sale, the insider owned 84,815 shares in the company, valued at approximately $24,730,357.70. The trade was a 1.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 21,500 shares of company stock valued at $6,791,710 in the last ninety days. Corporate insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on SITM shares. Loop Capital assumed coverage on shares of SiTime in a research report on Friday, November 21st. They set a “buy” rating and a $350.00 price objective for the company. Roth Mkm reiterated a “buy” rating and set a $350.00 price target on shares of SiTime in a research note on Thursday, November 6th. UBS Group increased their price target on shares of SiTime from $355.00 to $375.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Barclays set a $360.00 price objective on SiTime and gave the company an “equal weight” rating in a report on Thursday, January 15th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of SiTime in a research report on Thursday. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $360.63.

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.