Boothbay Fund Management LLC Buys 1,914 Shares of SiTime Corporation $SITM

Boothbay Fund Management LLC lifted its stake in SiTime Corporation (NASDAQ:SITM) by 21.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 10,989 shares of the company’s stock after buying an additional 1,914 shares during the quarter. Boothbay Fund Management LLC’s holdings in SiTime were worth $3,311,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Hantz Financial Services Inc. raised its holdings in SiTime by 190.3% in the third quarter. Hantz Financial Services Inc. now owns 90 shares of the company’s stock worth $27,000 after buying an additional 59 shares during the last quarter. Optiver Holding B.V. grew its holdings in shares of SiTime by 56.1% during the third quarter. Optiver Holding B.V. now owns 89 shares of the company’s stock valued at $27,000 after buying an additional 32 shares during the last quarter. Salomon & Ludwin LLC purchased a new stake in shares of SiTime during the third quarter valued at approximately $47,000. Global Retirement Partners LLC increased its position in shares of SiTime by 3,220.0% during the third quarter. Global Retirement Partners LLC now owns 166 shares of the company’s stock valued at $50,000 after acquiring an additional 161 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its holdings in SiTime by 33.6% in the 1st quarter. Advisors Asset Management Inc. now owns 350 shares of the company’s stock worth $54,000 after acquiring an additional 88 shares during the last quarter. Institutional investors own 84.31% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on SITM shares. UBS Group upped their price objective on SiTime from $430.00 to $485.00 and gave the company a “buy” rating in a research report on Thursday, February 5th. Needham & Company LLC boosted their price target on SiTime from $400.00 to $450.00 and gave the stock a “buy” rating in a research note on Thursday, February 5th. The Goldman Sachs Group assumed coverage on SiTime in a research report on Monday, December 15th. They set a “buy” rating and a $420.00 price objective on the stock. Raymond James Financial reiterated an “outperform” rating on shares of SiTime in a report on Tuesday, December 2nd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of SiTime in a research report on Thursday, January 22nd. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, SiTime currently has an average rating of “Moderate Buy” and a consensus target price of $409.38.

Insiders Place Their Bets

In other SiTime news, insider Piyush B. Sevalia sold 566 shares of the business’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $413.08, for a total transaction of $233,803.28. Following the completion of the sale, the insider directly owned 93,489 shares in the company, valued at $38,618,436.12. The trade was a 0.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Fariborz Assaderaghi sold 4,984 shares of the company’s stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $406.45, for a total transaction of $2,025,746.80. Following the sale, the insider directly owned 89,194 shares of the company’s stock, valued at $36,252,901.30. The trade was a 5.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 23,263 shares of company stock valued at $9,851,457. 2.30% of the stock is currently owned by company insiders.

SiTime Trading Up 4.8%

Shares of SITM opened at $341.69 on Tuesday. The firm has a fifty day simple moving average of $375.75 and a two-hundred day simple moving average of $329.32. The firm has a market cap of $8.99 billion, a PE ratio of -187.74 and a beta of 2.53. SiTime Corporation has a 1-year low of $105.40 and a 1-year high of $446.95.

SiTime (NASDAQ:SITM) last released its quarterly earnings results on Wednesday, February 4th. The company reported $1.53 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $113.29 million for the quarter, compared to the consensus estimate of $101.91 million. During the same period last year, the business posted $0.48 EPS. The company’s revenue for the quarter was up 66.3% on a year-over-year basis. As a group, research analysts forecast that SiTime Corporation will post -2.44 EPS for the current fiscal year.

SiTime Company 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.