Andar Capital Management HK Ltd Takes $1.07 Million Position in SiTime Corporation $SITM

Andar Capital Management HK Ltd bought a new position in SiTime Corporation (NASDAQ:SITM) during the 1st quarter, Holdings Channel.com reports. The fund bought 3,100 shares of the company’s stock, valued at approximately $1,071,000. SiTime makes up approximately 0.9% of Andar Capital Management HK Ltd’s holdings, making the stock its 13th biggest holding.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Rakuten Securities Inc. grew its stake in SiTime by 188.5% during the fourth quarter. Rakuten Securities Inc. now owns 75 shares of the company’s stock valued at $26,000 after acquiring an additional 49 shares in the last quarter. Parallel Advisors LLC lifted its stake in SiTime by 26.2% in the 1st quarter. Parallel Advisors LLC now owns 77 shares of the company’s stock worth $27,000 after purchasing an additional 16 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of SiTime during the 4th quarter valued at about $33,000. Larson Financial Group LLC increased its stake in SiTime by 3,200.0% in the 3rd quarter. Larson Financial Group LLC now owns 99 shares of the company’s stock worth $30,000 after acquiring an additional 96 shares during the last quarter. Finally, Danske Bank A S purchased a new stake in shares of SiTime during the 4th quarter worth approximately $35,000. Institutional investors own 84.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. The Goldman Sachs Group restated a “buy” rating and issued a $800.00 price target on shares of SiTime in a research report on Thursday, May 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of SiTime in a research report on Tuesday, April 21st. Barclays upgraded SiTime from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $400.00 to $850.00 in a research report on Thursday, May 7th. Needham & Company LLC boosted their price objective on shares of SiTime from $450.00 to $850.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Finally, Stifel Nicolaus raised 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. Eight equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $661.88.

Insiders Place Their Bets

In other SiTime news, CEO Rajesh Vashist sold 5,000 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $750.00, for a total value of $3,750,000.00. Following the completion of the sale, the chief executive officer directly owned 9,781 shares in the company, valued at approximately $7,335,750. This represents a 33.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 firm’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $720.00, for a total value of $511,200.00. Following the transaction, the director owned 13,141 shares in the company, valued at approximately $9,461,520. This represents a 5.13% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 69,709 shares of company stock worth $50,230,546. 1.40% of the stock is owned by company insiders.

SiTime Price Performance

SITM stock opened at $555.15 on Tuesday. The company has a market capitalization of $14.66 billion, a PE ratio of -549.65 and a beta of 2.91. SiTime Corporation has a 12 month low of $186.49 and a 12 month high of $901.81. The firm’s 50-day moving average is $687.15 and its 200 day moving average is $508.69.

SiTime (NASDAQ:SITM) last released 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 company had revenue of $113.57 million during the quarter, compared to analysts’ expectations of $103.51 million. SiTime had a negative net margin of 6.38% and a positive return on equity of 0.53%. The firm’s quarterly revenue was up 88.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.26 EPS. Sell-side analysts forecast that SiTime Corporation will post 3.23 EPS for the current fiscal year.

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.