Caxton Associates LLP Sells 1,491 Shares of SiTime Corporation $SITM

Caxton Associates LLP lessened its stake in shares of SiTime Corporation (NASDAQ:SITM) by 32.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,113 shares of the company’s stock after selling 1,491 shares during the period. Caxton Associates LLP’s holdings in SiTime were worth $1,075,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Royal Bank of Canada increased its stake in SiTime by 12.5% in the first quarter. Royal Bank of Canada now owns 4,411 shares of the company’s stock valued at $675,000 after purchasing an additional 491 shares in the last quarter. Advisors Asset Management Inc. boosted its position in shares of SiTime by 33.6% during the 1st quarter. Advisors Asset Management Inc. now owns 350 shares of the company’s stock worth $54,000 after purchasing an additional 88 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of SiTime by 310.8% in the 1st quarter. AQR Capital Management LLC now owns 10,754 shares of the company’s stock valued at $1,557,000 after buying an additional 8,136 shares during the period. Intech Investment Management LLC grew its stake in shares of SiTime by 21.6% in the 1st quarter. Intech Investment Management LLC now owns 8,322 shares of the company’s stock valued at $1,272,000 after buying an additional 1,477 shares during the period. Finally, M&T Bank Corp bought a new stake in SiTime in the 2nd quarter valued at about $240,000. 84.31% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Raman Chitkara sold 2,000 shares of the company’s stock in a transaction on 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 sale, the director owned 19,898 shares in the company, valued at approximately $14,473,407.24. This represents a 9.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Rajesh Vashist sold 30,000 shares of the stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $701.13, for a total value of $21,033,900.00. Following the completion of the sale, the chief executive officer directly owned 402,898 shares of the company’s stock, valued at $282,483,874.74. The trade was a 6.93% 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 ninety days, insiders have sold 69,709 shares of company stock valued at $50,230,546. 1.40% of the stock is currently owned by company insiders.

SiTime Price Performance

NASDAQ:SITM opened at $554.46 on Monday. SiTime Corporation has a one year low of $186.49 and a one year high of $901.81. The company has a market cap of $14.64 billion, a PE ratio of -548.97 and a beta of 2.91. The firm has a 50-day moving average of $667.85 and a 200-day moving average of $515.04.

SiTime (NASDAQ:SITM) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $1.44 earnings per share 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 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 revenue for the quarter was up 88.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.26 EPS. On average, equities research analysts expect that SiTime Corporation will post 3.23 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SITM. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SiTime in a research note on Friday, July 17th. Roth Capital reissued a “buy” rating and issued a $900.00 price objective on shares of SiTime in a research note on Thursday, May 7th. Barclays upgraded SiTime from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $400.00 to $850.00 in a report on Thursday, May 7th. Stifel Nicolaus upped their target price on SiTime from $450.00 to $500.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $800.00 target price on shares of SiTime in a report on Thursday, May 7th. Eight investment 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’s stock. According to data from MarketBeat.com, the company 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.