HighTower Advisors LLC Acquires 14,859 Shares of SiTime Corporation $SITM

HighTower Advisors LLC lifted its holdings in SiTime Corporation (NASDAQ:SITM) by 95.8% in the 3rd quarter, Holdings Channel reports. The firm owned 30,368 shares of the company’s stock after acquiring an additional 14,859 shares during the period. HighTower Advisors LLC’s holdings in SiTime were worth $9,151,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Royal Bank of Canada raised its position in SiTime by 12.5% in the 1st quarter. Royal Bank of Canada now owns 4,411 shares of the company’s stock worth $675,000 after buying an additional 491 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in shares of SiTime by 33.6% during the 1st quarter. Advisors Asset Management Inc. now owns 350 shares of the company’s stock valued at $54,000 after acquiring an additional 88 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of SiTime by 310.8% in the first quarter. AQR Capital Management LLC now owns 10,754 shares of the company’s stock worth $1,557,000 after acquiring an additional 8,136 shares during the period. Intech Investment Management LLC raised its holdings in shares of SiTime by 21.6% during the first quarter. Intech Investment Management LLC now owns 8,322 shares of the company’s stock valued at $1,272,000 after purchasing an additional 1,477 shares during the last quarter. Finally, CWM LLC lifted its position in SiTime by 36.2% during the second quarter. CWM LLC now owns 617 shares of the company’s stock valued at $131,000 after purchasing an additional 164 shares during the period. 84.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SITM has been the subject of a number of research analyst reports. Barclays set a $400.00 target price on shares of SiTime in a research report on Thursday, February 5th. Raymond James Financial reaffirmed an “outperform” rating on shares of SiTime in a report on Tuesday, December 2nd. UBS Group upped their price objective on SiTime from $430.00 to $485.00 and gave the company a “buy” rating in a research report on Thursday, February 5th. Needham & Company LLC raised their target price on SiTime from $400.00 to $450.00 and gave the stock a “buy” rating in a research report on Thursday, February 5th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $450.00 price target on shares of SiTime in a research report on Thursday, February 5th. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $409.38.

SiTime Price Performance

NASDAQ:SITM opened at $406.97 on Friday. SiTime Corporation has a one year low of $105.40 and a one year high of $446.95. The business has a fifty day moving average price of $372.94 and a 200-day moving average price of $311.62. The firm has a market capitalization of $10.70 billion, a price-to-earnings ratio of -223.61 and a beta of 2.51.

SiTime (NASDAQ:SITM) last released its quarterly earnings results on Wednesday, February 4th. The company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.33. The business had revenue of $113.29 million during the quarter, compared to analyst estimates of $101.91 million. SiTime had a negative return on equity of 2.06% and a negative net margin of 13.13%.SiTime’s revenue for the quarter was up 66.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.48 earnings per share. On average, equities research analysts expect that SiTime Corporation will post -2.44 earnings per share for the current fiscal year.

Insider Activity at SiTime

In other SiTime news, insider Piyush B. Sevalia sold 566 shares of SiTime stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $413.08, for a total transaction of $233,803.28. Following the transaction, the insider owned 93,489 shares of the company’s stock, valued at $38,618,436.12. The trade was a 0.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Fariborz Assaderaghi sold 2,112 shares of the stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $428.08, for a total transaction of $904,104.96. Following the completion of the sale, the insider directly owned 97,937 shares of the company’s stock, valued at approximately $41,924,870.96. This trade represents a 2.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 25,278 shares of company stock worth $9,796,580 in the last quarter. 2.10% of the stock is currently owned by insiders.

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.