Intech Investment Management LLC Sells 1,265 Shares of SiTime Corporation $SITM

Intech Investment Management LLC lessened its position in shares of SiTime Corporation (NASDAQ:SITM) by 8.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,474 shares of the company’s stock after selling 1,265 shares during the quarter. Intech Investment Management LLC owned about 0.06% of SiTime worth $5,112,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of SITM. Geode Capital Management LLC increased its stake in SiTime by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 539,425 shares of the company’s stock valued at $190,550,000 after purchasing an additional 15,850 shares in the last quarter. Hantz Financial Services Inc. increased its stake in SiTime by 118.9% during the 4th quarter. Hantz Financial Services Inc. now owns 197 shares of the company’s stock valued at $70,000 after purchasing an additional 107 shares in the last quarter. Darden Wealth Group Inc increased its stake in SiTime by 12.8% during the 4th quarter. Darden Wealth Group Inc now owns 880 shares of the company’s stock valued at $311,000 after purchasing an additional 100 shares in the last quarter. Lisanti Capital Growth LLC increased its stake in SiTime by 17.7% during the 4th quarter. Lisanti Capital Growth LLC now owns 22,854 shares of the company’s stock valued at $8,072,000 after purchasing an additional 3,440 shares in the last quarter. Finally, Berkshire Capital Holdings Inc. acquired a new position in SiTime during the 4th quarter valued at approximately $2,889,000. Institutional investors own 84.31% of the company’s stock.

Analyst Ratings Changes

SITM has been the topic of a number of recent analyst reports. Needham & Company LLC upped their price target on shares of SiTime from $450.00 to $850.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. The Goldman Sachs Group restated a “buy” rating and set a $800.00 price target on shares of SiTime in a research note on Thursday, May 7th. Barclays upgraded shares of SiTime from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $400.00 to $850.00 in a research note on Thursday, May 7th. Zacks Research upgraded shares of SiTime from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 15th. Finally, Stifel Nicolaus upped their price target on shares of SiTime from $450.00 to $500.00 and gave the company a “buy” rating in a research note on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $661.88.

SiTime Price Performance

SITM stock opened at $710.20 on Monday. The firm’s fifty day simple moving average is $549.22 and its 200-day simple moving average is $424.09. The company has a market capitalization of $18.75 billion, a P/E ratio of -703.17 and a beta of 2.94. SiTime Corporation has a 12 month low of $186.49 and a 12 month high of $901.81.

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 business’s revenue for the quarter was up 88.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.26 EPS. As a group, sell-side analysts forecast that SiTime Corporation will post 3.23 earnings per share for the current year.

Insider Buying and Selling at SiTime

In other news, insider Piyush B. Sevalia sold 2,419 shares of the company’s stock in a transaction on Friday, April 17th. The shares were sold at an average price of $484.05, for a total value of $1,170,916.95. Following the sale, the insider directly owned 84,250 shares of the company’s stock, valued at $40,781,212.50. This represents a 2.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Akira Takata sold 1,500 shares of the company’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $860.86, for a total transaction of $1,291,290.00. Following the completion of the sale, the director directly owned 12,234 shares in the company, valued at $10,531,761.24. This trade represents a 10.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 8,834 shares of company stock valued at $5,221,873 over the last quarter. Insiders own 1.40% of the company’s stock.

About SiTime

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.