SiTime Corporation $SITM Shares Sold by Fortress Investment Group LLC

Fortress Investment Group LLC cut its stake in shares of SiTime Corporation (NASDAQ:SITM) by 3.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 100,000 shares of the company’s stock after selling 4,100 shares during the quarter. SiTime makes up 4.0% of Fortress Investment Group LLC’s portfolio, making the stock its 5th largest holding. Fortress Investment Group LLC owned about 0.38% of SiTime worth $30,131,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Royal Bank of Canada raised its position in SiTime by 12.5% in the 1st quarter. Royal Bank of Canada now owns 4,411 shares of the company’s stock valued at $675,000 after purchasing an additional 491 shares during the last quarter. Advisors Asset Management Inc. increased its stake 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 buying an additional 88 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of SiTime by 310.8% in the first quarter. AQR Capital Management LLC now owns 10,754 shares of the company’s stock valued at $1,557,000 after buying an additional 8,136 shares during the last quarter. Intech Investment Management LLC lifted its position in SiTime by 21.6% during the 1st quarter. Intech Investment Management LLC now owns 8,322 shares of the company’s stock worth $1,272,000 after buying an additional 1,477 shares in the last quarter. Finally, Bank of Montreal Can grew its holdings in SiTime by 8.5% during the 2nd quarter. Bank of Montreal Can now owns 3,168 shares of the company’s stock worth $675,000 after acquiring an additional 247 shares during the last quarter. 84.31% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Roth Mkm reaffirmed a “buy” rating and issued a $450.00 target price on shares of SiTime in a research note on Thursday, February 5th. Barclays set a $400.00 price objective on SiTime in a report on Thursday, February 5th. Wall Street Zen lowered SiTime from a “buy” rating to a “hold” rating in a research report on Saturday. Raymond James Financial reissued an “outperform” rating on shares of SiTime in a research note on Tuesday, December 2nd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SiTime in a research note on Thursday, January 22nd. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, SiTime has a consensus rating of “Moderate Buy” and an average price target of $409.38.

Insider Transactions at SiTime

In other SiTime news, insider Samsheer Ahamad sold 9,100 shares of the firm’s stock in a transaction dated 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 transaction, the insider owned 52,938 shares in the company, valued at approximately $23,370,538.86. This trade represents a 14.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Rajesh Vashist sold 2,000 shares of the company’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $369.20, for a total value of $738,400.00. Following the completion of the sale, the chief executive officer directly owned 431,609 shares of the company’s stock, valued at approximately $159,350,042.80. This trade represents a 0.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 23,263 shares of company stock valued at $9,851,457. Corporate insiders own 2.30% of the company’s stock.

SiTime Stock Performance

Shares of SITM stock opened at $326.13 on Monday. The firm’s 50 day moving average price is $375.58 and its two-hundred day moving average price is $328.63. SiTime Corporation has a 52-week low of $105.40 and a 52-week high of $446.95. The stock has a market cap of $8.58 billion, a PE ratio of -179.19 and a beta of 2.53.

SiTime (NASDAQ:SITM) last posted its quarterly earnings results on Wednesday, February 4th. The company reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.33. SiTime had a negative return on equity of 2.06% and a negative net margin of 13.13%.The company had revenue of $113.29 million for the quarter, compared to the consensus estimate of $101.91 million. During the same quarter in the prior year, the business posted $0.48 EPS. The firm’s quarterly revenue was up 66.3% on a year-over-year basis. As a group, sell-side analysts predict that SiTime Corporation will post -2.44 earnings per share 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.