SiTime Corporation $SITM Shares Sold by Calamos Advisors LLC

Calamos Advisors LLC lowered its stake in SiTime Corporation (NASDAQ:SITM) by 23.0% in the 1st quarter, Holdings Channel.com reports. The firm owned 17,764 shares of the company’s stock after selling 5,316 shares during the period. Calamos Advisors LLC’s holdings in SiTime were worth $6,135,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Rakuten Securities Inc. lifted its position in shares of SiTime by 188.5% during the fourth quarter. Rakuten Securities Inc. now owns 75 shares of the company’s stock worth $26,000 after purchasing an additional 49 shares during the last quarter. Larson Financial Group LLC raised its stake in SiTime by 3,200.0% during the third quarter. Larson Financial Group LLC now owns 99 shares of the company’s stock valued at $30,000 after buying an additional 96 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in SiTime during the fourth quarter valued at approximately $33,000. Danske Bank A S bought a new position in SiTime during the 4th quarter worth approximately $35,000. Finally, Bernard Wealth Management Corp. bought a new position in SiTime during the 4th quarter worth approximately $41,000. Institutional investors and hedge funds own 84.31% of the company’s stock.

SiTime Price Performance

Shares of SITM opened at $623.83 on Wednesday. The company has a market cap of $16.47 billion, a P/E ratio of -617.65 and a beta of 2.91. The stock has a fifty day moving average price of $704.51 and a 200 day moving average price of $503.06. SiTime Corporation has a 12 month low of $186.49 and a 12 month high of $901.81.

SiTime (NASDAQ:SITM) last posted its earnings results on Wednesday, May 6th. The company reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $113.57 million for the quarter, compared to analysts’ expectations of $103.51 million. During the same period last year, the business posted $0.26 earnings per share. The firm’s quarterly revenue was up 88.3% compared to the same quarter last year. As a group, research analysts anticipate that SiTime Corporation will post 3.23 earnings per share for the current year.

Analyst Upgrades and Downgrades

SITM has been the subject of a number of research analyst reports. Barclays upgraded SiTime from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $400.00 to $850.00 in a report on Thursday, May 7th. Zacks Research downgraded shares of SiTime from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. UBS Group boosted their target price on shares of SiTime from $675.00 to $775.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Stifel Nicolaus increased their target price on shares of SiTime from $450.00 to $500.00 and gave the stock a “buy” rating in a report on Thursday, April 16th. Finally, Needham & Company LLC raised their price target on shares of SiTime from $450.00 to $850.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Eight investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $661.88.

Insiders Place Their Bets

In other SiTime news, Director Christine Heckart sold 1,290 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $700.00, for a total transaction of $903,000.00. Following the completion of the transaction, the director directly owned 790 shares of the company’s stock, valued at $553,000. The trade was a 62.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Raman Chitkara sold 2,000 shares of the company’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $727.38, for a total transaction of $1,454,760.00. Following the completion of the transaction, the director owned 19,898 shares of the company’s stock, valued at approximately $14,473,407.24. This trade represents a 9.13% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 72,128 shares of company stock worth $51,401,463. 1.40% of the stock is 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.