Clough Capital Partners L P Makes New Investment in SiTime Corporation $SITM

Clough Capital Partners L P bought a new position in shares of SiTime Corporation (NASDAQ:SITM) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 3,658 shares of the company’s stock, valued at approximately $1,102,000.

Other institutional investors also recently modified their holdings of the company. Optiver Holding B.V. increased its position in SiTime by 56.1% during the third quarter. Optiver Holding B.V. now owns 89 shares of the company’s stock worth $27,000 after acquiring an additional 32 shares during the period. Verdence Capital Advisors LLC raised its stake in SiTime by 3.7% in the 3rd quarter. Verdence Capital Advisors LLC now owns 1,118 shares of the company’s stock worth $309,000 after purchasing an additional 40 shares in the last quarter. Bessemer Group Inc. boosted its holdings in SiTime by 27.4% in the 3rd quarter. Bessemer Group Inc. now owns 186 shares of the company’s stock valued at $55,000 after purchasing an additional 40 shares during the period. Smartleaf Asset Management LLC boosted its holdings in SiTime by 10.9% in the 3rd quarter. Smartleaf Asset Management LLC now owns 427 shares of the company’s stock valued at $125,000 after purchasing an additional 42 shares during the period. Finally, Lazard Asset Management LLC grew its position in shares of SiTime by 7.7% during the 2nd quarter. Lazard Asset Management LLC now owns 654 shares of the company’s stock worth $139,000 after purchasing an additional 47 shares in the last quarter. Institutional investors own 84.31% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on SITM shares. Wall Street Zen cut shares of SiTime from a “buy” rating to a “hold” rating in a report on Saturday. The Goldman Sachs Group started coverage on SiTime in a research note on Monday, December 15th. They issued a “buy” rating and a $420.00 price target for the company. Stifel Nicolaus set a $450.00 price target on SiTime in a research report on Thursday, February 5th. UBS Group raised their price objective on SiTime from $430.00 to $485.00 and gave the stock a “buy” rating in a research note on Thursday, February 5th. Finally, Barclays set a $400.00 price objective on SiTime in a 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $409.38.

SiTime Stock Up 1.0%

SITM stock opened at $326.13 on Friday. SiTime Corporation has a 12 month low of $105.40 and a 12 month high of $446.95. The firm has a market cap of $8.58 billion, a P/E ratio of -179.19 and a beta of 2.53. The company’s 50-day moving average price is $375.58 and its two-hundred day moving average price is $328.00.

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

Insider Buying and Selling at SiTime

In other SiTime news, CEO Rajesh Vashist sold 2,000 shares of the firm’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $369.20, for a total value of $738,400.00. Following the sale, the chief executive officer owned 431,609 shares of the company’s stock, valued at approximately $159,350,042.80. This trade represents a 0.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Piyush B. Sevalia sold 566 shares of SiTime stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $413.08, for a total value of $233,803.28. Following the completion of the transaction, the insider owned 93,489 shares in the company, valued at approximately $38,618,436.12. The trade was a 0.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 23,263 shares of company stock valued at $9,851,457. 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.