Bradley Foster & Sargent Inc. CT Acquires Shares of 7,033 SiTime Corporation $SITM

Bradley Foster & Sargent Inc. CT bought a new position in shares of SiTime Corporation (NASDAQ:SITM) during the 1st quarter, HoldingsChannel.com reports. The fund bought 7,033 shares of the company’s stock, valued at approximately $2,429,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SITM. Rakuten Securities Inc. grew its holdings in shares of SiTime by 188.5% in 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 holdings in SiTime by 26.2% during the first quarter. Parallel Advisors LLC now owns 77 shares of the company’s stock worth $27,000 after acquiring an additional 16 shares during the period. Larson Financial Group LLC boosted its position in SiTime by 3,200.0% in the third quarter. Larson Financial Group LLC now owns 99 shares of the company’s stock worth $30,000 after purchasing an additional 96 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in SiTime in the fourth quarter worth $33,000. Finally, Danske Bank A S purchased a new position in SiTime in the fourth quarter worth $35,000. Hedge funds and other institutional investors own 84.31% of the company’s stock.

Insider Buying and Selling

In related news, insider Fariborz Assaderaghi sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $702.90, for a total transaction of $702,900.00. Following the sale, the insider directly owned 78,936 shares in the company, valued at approximately $55,484,114.40. This represents a 1.25% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Rajesh Vashist sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $750.00, for a total transaction of $3,750,000.00. Following the completion of the transaction, the chief executive officer directly owned 9,781 shares of the company’s stock, valued at approximately $7,335,750. This trade represents a 33.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 69,709 shares of company stock valued at $50,230,546. Corporate insiders own 1.40% of the company’s stock.

SiTime Price Performance

Shares of NASDAQ SITM opened at $554.46 on Monday. The stock has a market capitalization of $14.64 billion, a PE ratio of -548.97 and a beta of 2.91. SiTime Corporation has a one year low of $186.49 and a one year high of $901.81. The business’s fifty day moving average price is $667.85 and its 200-day moving average price is $515.04.

SiTime (NASDAQ:SITM) last released 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. The business had revenue of $113.57 million for the quarter, compared to the consensus estimate of $103.51 million. SiTime had a negative net margin of 6.38% and a positive return on equity of 0.53%. The company’s revenue was up 88.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.26 earnings per share. As a group, equities analysts expect that SiTime Corporation will post 3.23 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on SITM shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SiTime in a research report on Friday, July 17th. UBS Group increased their price target on shares of SiTime from $675.00 to $775.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Stifel Nicolaus raised their price objective on shares of SiTime from $450.00 to $500.00 and gave the stock a “buy” rating in a report on Thursday, April 16th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $800.00 price objective on shares of SiTime in a research report on Thursday, May 7th. Finally, Wall Street Zen upgraded shares of SiTime from a “hold” rating to a “buy” rating in a research note on Sunday, July 12th. Eight research 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 data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $661.88.

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.