2,000 Shares in SiTime Corporation $SITM Purchased by K.J. Harrison & Partners Inc

K.J. Harrison & Partners Inc bought a new position in shares of SiTime Corporation (NASDAQ:SITM) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,000 shares of the company’s stock, valued at approximately $691,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of SiTime by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 2,825,402 shares of the company’s stock worth $997,904,000 after buying an additional 61,336 shares during the last quarter. Invesco Ltd. lifted its holdings in SiTime by 1.8% in the third quarter. Invesco Ltd. now owns 1,037,305 shares of the company’s stock valued at $312,550,000 after acquiring an additional 18,165 shares during the last quarter. State Street Corp lifted its holdings in SiTime by 3.7% in the second quarter. State Street Corp now owns 911,280 shares of the company’s stock valued at $194,176,000 after acquiring an additional 32,178 shares during the last quarter. Ameriprise Financial Inc. grew its position in SiTime by 22.0% in the second quarter. Ameriprise Financial Inc. now owns 736,281 shares of the company’s stock worth $156,887,000 after acquiring an additional 132,948 shares during the period. Finally, Whale Rock Capital Management LLC grew its position in SiTime by 45.4% in the fourth quarter. Whale Rock Capital Management LLC now owns 698,539 shares of the company’s stock worth $246,717,000 after acquiring an additional 218,038 shares during the period. 84.31% of the stock is currently owned by institutional investors and hedge funds.

SiTime Price Performance

Shares of NASDAQ SITM opened at $601.66 on Monday. The business’s 50 day moving average is $695.57 and its two-hundred day moving average is $490.79. SiTime Corporation has a 52-week low of $186.49 and a 52-week high of $901.81. The firm has a market cap of $15.88 billion, a price-to-earnings ratio of -595.70 and a beta of 2.91.

SiTime (NASDAQ:SITM) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $1.44 earnings per share 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 business had revenue of $113.57 million during the quarter, compared to analysts’ expectations of $103.51 million. During the same period in the previous year, the firm posted $0.26 earnings per share. The company’s revenue was up 88.3% on a year-over-year basis. Analysts anticipate that SiTime Corporation will post 3.23 EPS for the current fiscal year.

Insider Buying and Selling at SiTime

In other news, CEO Rajesh Vashist sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $750.20, for a total value of $11,253,000.00. Following the completion of the transaction, the chief executive officer owned 387,898 shares of the company’s stock, valued at approximately $291,001,079.60. This trade represents a 3.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Christine Heckart sold 1,290 shares of SiTime stock in a transaction that occurred on 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 owned 790 shares of the company’s stock, valued at $553,000. This trade represents a 62.02% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 73,375 shares of company stock valued at $51,931,438. Corporate insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on SITM shares. 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. Needham & Company LLC increased their price target on SiTime from $450.00 to $850.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. UBS Group raised their price objective on SiTime from $675.00 to $775.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Zacks Research upgraded shares of SiTime from a “hold” rating to a “strong-buy” rating in a report on Friday, May 15th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $800.00 price objective on shares of SiTime in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $661.88.

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.