20,178 Shares in SiTime Corporation $SITM Bought by Nicholas Investment Partners LP

Nicholas Investment Partners LP acquired a new position in SiTime Corporation (NASDAQ:SITM) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 20,178 shares of the company’s stock, valued at approximately $7,127,000.

Several other large investors also recently modified their holdings of SITM. Royal Bank of Canada grew its holdings in shares of SiTime by 12.5% in the first 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. lifted its position in SiTime by 33.6% during 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 in the last quarter. AQR Capital Management LLC lifted its position in SiTime by 310.8% during the first quarter. AQR Capital Management LLC now owns 10,754 shares of the company’s stock valued at $1,557,000 after purchasing an additional 8,136 shares in the last quarter. Intech Investment Management LLC lifted its position in SiTime by 21.6% during the first quarter. Intech Investment Management LLC now owns 8,322 shares of the company’s stock valued at $1,272,000 after purchasing an additional 1,477 shares in the last quarter. Finally, M&T Bank Corp purchased a new position in SiTime during the second quarter valued at $240,000. Institutional investors own 84.31% of the company’s stock.

SiTime Stock Up 1.2%

Shares of SiTime stock opened at $729.89 on Friday. The stock’s 50-day simple moving average is $618.04 and its 200-day simple moving average is $451.56. SiTime Corporation has a 52 week low of $186.49 and a 52 week high of $901.81. The company has a market capitalization of $19.27 billion, a price-to-earnings ratio of -722.66 and a beta of 2.94.

SiTime (NASDAQ:SITM) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $1.44 EPS for the quarter, beating the consensus estimate 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 business had revenue of $113.57 million for the quarter, compared to the consensus estimate of $103.51 million. During the same period in the previous year, the business earned $0.26 earnings per share. The business’s revenue was up 88.3% on a year-over-year basis. On average, equities analysts expect that SiTime Corporation will post 3.23 earnings per share for the current year.

Wall Street Analyst Weigh In

SITM has been the topic of several analyst reports. Zacks Research upgraded SiTime from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 15th. Needham & Company LLC lifted their target price on SiTime from $450.00 to $850.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Wall Street Zen upgraded SiTime from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Roth Mkm reiterated a “buy” rating and set a $900.00 target price on shares of SiTime in a research report on Thursday, May 7th. Finally, Stifel Nicolaus lifted their target price on SiTime from $450.00 to $500.00 and gave the company a “buy” rating in a research report on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, SiTime currently has an average rating of “Moderate Buy” and an average price target of $661.88.

Insider Buying and Selling

In related news, CEO Rajesh Vashist sold 10,000 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $701.13, for a total value of $7,011,300.00. Following the sale, the chief executive officer directly owned 14,781 shares in the company, valued at approximately $10,363,402.53. The trade was a 40.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Torsten Kreindl sold 710 shares of the business’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $720.00, for a total value of $511,200.00. Following the completion of the sale, the director owned 13,141 shares in the company, valued at $9,461,520. This represents a 5.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 52,624 shares of company stock valued at $35,942,053 in the last ninety days. Company insiders own 1.40% of the company’s stock.

About SiTime

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.