Pinnacle Wealth Management Advisory Group LLC Takes Position in SiTime Corporation $SITM

Pinnacle Wealth Management Advisory Group LLC purchased a new position in shares of SiTime Corporation (NASDAQ:SITM) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 845 shares of the company’s stock, valued at approximately $292,000.

A number of other hedge funds have also bought and sold shares of SITM. Los Angeles Capital Management LLC raised its stake in SiTime by 0.3% during the fourth quarter. Los Angeles Capital Management LLC now owns 9,023 shares of the company’s stock valued at $3,187,000 after buying an additional 25 shares in the last quarter. Optiver Holding B.V. grew its position in shares of SiTime by 56.1% in the 3rd quarter. Optiver Holding B.V. now owns 89 shares of the company’s stock worth $27,000 after acquiring an additional 32 shares in the last quarter. Atlas Brown Inc. increased its holdings in shares of SiTime by 1.6% in the 4th quarter. Atlas Brown Inc. now owns 2,292 shares of the company’s stock valued at $810,000 after acquiring an additional 37 shares during the last quarter. CWM LLC increased its holdings in shares of SiTime by 4.2% in the 4th quarter. CWM LLC now owns 951 shares of the company’s stock valued at $336,000 after acquiring an additional 38 shares during the last quarter. Finally, Corient Private Wealth LLC raised its position in shares of SiTime by 5.9% during the 4th quarter. Corient Private Wealth LLC now owns 703 shares of the company’s stock valued at $249,000 after acquiring an additional 39 shares in the last quarter. 84.31% of the stock is currently owned by institutional investors and hedge funds.

SiTime Price Performance

NASDAQ:SITM opened at $672.19 on Monday. The firm has a market capitalization of $17.75 billion, a P/E ratio of -665.53 and a beta of 2.94. The business has a 50 day simple moving average of $679.31 and a 200 day simple moving average of $480.16. SiTime Corporation has a 12-month low of $186.49 and a 12-month high of $901.81.

SiTime (NASDAQ:SITM) last issued its earnings results on Wednesday, May 6th. The company reported $1.44 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $113.57 million for the quarter, compared to analyst estimates of $103.51 million. During the same period last year, the company earned $0.26 earnings per share. The firm’s revenue for the quarter was up 88.3% on a year-over-year basis. Research analysts anticipate that SiTime Corporation will post 3.23 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Roth Mkm reaffirmed a “buy” rating and issued a $900.00 price objective on shares of SiTime in a report on Thursday, May 7th. Wall Street Zen cut shares of SiTime from a “buy” rating to a “hold” rating in a report on Saturday. 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. Zacks Research raised shares of SiTime from a “hold” rating to a “strong-buy” rating in a report on Friday, May 15th. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $661.88.

Insiders Place Their Bets

In other SiTime news, Director Christine Heckart sold 1,290 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $700.00, for a total value of $903,000.00. Following the completion of the transaction, the director owned 790 shares in the company, valued at approximately $553,000. This represents a 62.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Raman Chitkara sold 2,000 shares of the company’s stock in a transaction dated 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 transaction, the director owned 19,898 shares of the company’s stock, valued at approximately $14,473,407.24. This trade represents a 9.13% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 73,375 shares of company stock worth $51,931,438. 1.40% of the stock is owned by company insiders.

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.