Intech Investment Management LLC Lowers Stock Position in SiTime Corporation $SITM

Intech Investment Management LLC cut its position in shares of SiTime Corporation (NASDAQ:SITM) by 8.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 14,474 shares of the company’s stock after selling 1,265 shares during the quarter. Intech Investment Management LLC’s holdings in SiTime were worth $5,112,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in SiTime by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 539,425 shares of the company’s stock worth $190,550,000 after buying an additional 15,850 shares in the last quarter. Hantz Financial Services Inc. boosted its holdings in SiTime by 118.9% during the fourth quarter. Hantz Financial Services Inc. now owns 197 shares of the company’s stock worth $70,000 after buying an additional 107 shares in the last quarter. Darden Wealth Group Inc boosted its holdings in SiTime by 12.8% during the fourth quarter. Darden Wealth Group Inc now owns 880 shares of the company’s stock worth $311,000 after buying an additional 100 shares in the last quarter. Lisanti Capital Growth LLC boosted its holdings in SiTime by 17.7% during the fourth quarter. Lisanti Capital Growth LLC now owns 22,854 shares of the company’s stock worth $8,072,000 after buying an additional 3,440 shares in the last quarter. Finally, Berkshire Capital Holdings Inc. purchased a new stake in SiTime during the fourth quarter worth $2,889,000. 84.31% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on SITM shares. The Goldman Sachs Group reissued a “buy” rating and set a $800.00 price target on shares of SiTime in a report on Thursday, May 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of SiTime in a report on Tuesday, April 21st. UBS Group increased their price target on shares of SiTime from $675.00 to $775.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Needham & Company LLC increased their price target on shares of SiTime from $450.00 to $850.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Finally, Stifel Nicolaus increased their price target on shares of SiTime from $450.00 to $500.00 and gave the stock a “buy” rating in a report on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $661.88.

SiTime Price Performance

SITM opened at $710.20 on Monday. The company has a market cap of $18.75 billion, a price-to-earnings ratio of -703.17 and a beta of 2.94. SiTime Corporation has a 52-week low of $186.49 and a 52-week high of $901.81. The firm’s fifty day simple moving average is $549.22 and its two-hundred day simple moving average is $424.09.

SiTime (NASDAQ:SITM) last posted 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 business had revenue of $113.57 million for the quarter, compared to the consensus estimate 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 was up 88.3% compared to the same quarter last year. During the same period last year, the firm posted $0.26 earnings per share. On average, research analysts forecast that SiTime Corporation will post 3.23 EPS for the current year.

Insider Activity at SiTime

In other SiTime news, insider Fariborz Assaderaghi sold 1,709 shares of the 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 transaction, the insider directly owned 81,436 shares of the company’s stock, valued at $59,569,619.64. This trade represents a 2.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 transaction of $1,170,916.95. Following the transaction, the insider directly 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. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 8,834 shares of company stock valued at $5,221,873. 1.40% of the stock is currently owned by company insiders.

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.