SiTime Corporation $SITM Shares Sold by Values First Advisors Inc.

Values First Advisors Inc. lessened its stake in shares of SiTime Corporation (NASDAQ:SITM) by 50.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 921 shares of the company’s stock after selling 921 shares during the quarter. Values First Advisors Inc.’s holdings in SiTime were worth $318,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in SITM. Norges Bank purchased a new position in shares of SiTime during the fourth quarter valued at approximately $83,977,000. Whale Rock Capital Management LLC grew its stake in SiTime by 45.4% in the 4th quarter. Whale Rock Capital Management LLC now owns 698,539 shares of the company’s stock worth $246,717,000 after acquiring an additional 218,038 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in SiTime by 61.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 562,892 shares of the company’s stock valued at $198,808,000 after acquiring an additional 213,242 shares during the last quarter. Fuller & Thaler Asset Management Inc. acquired a new position in SiTime in the 4th quarter valued at $59,452,000. Finally, Wellington Management Group LLP lifted its stake in shares of SiTime by 36.8% during the 3rd quarter. Wellington Management Group LLP now owns 537,741 shares of the company’s stock worth $162,027,000 after purchasing an additional 144,671 shares during the period. Institutional investors and hedge funds own 84.31% of the company’s stock.

Insider Activity

In related news, Director Torsten Kreindl sold 710 shares of the stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $720.00, for a total transaction of $511,200.00. Following the sale, the director owned 13,141 shares in the company, valued at $9,461,520. This represents a 5.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Rajesh Vashist sold 15,000 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $750.20, for a total transaction of $11,253,000.00. Following the completion of the transaction, the chief executive officer directly owned 387,898 shares in the company, valued at $291,001,079.60. This represents a 3.72% decrease in their position. 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. Insiders have sold 74,624 shares of company stock valued at $52,399,813 over the last quarter. Corporate insiders own 1.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SITM. UBS Group lifted their price objective on SiTime from $675.00 to $775.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Roth Mkm reiterated a “buy” rating and set a $900.00 target price on shares of SiTime in a research report on Thursday, May 7th. Stifel Nicolaus raised their price target on SiTime from $450.00 to $500.00 and gave the stock a “buy” rating in a research note on Thursday, April 16th. Weiss Ratings restated a “sell (d-)” rating on shares of SiTime in a report on Tuesday, April 21st. Finally, Zacks Research raised shares of SiTime from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, SiTime has an average rating of “Moderate Buy” and a consensus price target of $661.88.

SiTime Trading Up 3.3%

Shares of NASDAQ SITM opened at $753.12 on Tuesday. The stock has a fifty day moving average price of $659.73 and a 200 day moving average price of $470.76. SiTime Corporation has a 12-month low of $186.49 and a 12-month high of $901.81. The company has a market cap of $19.88 billion, a P/E ratio of -745.66 and a beta of 2.94.

SiTime (NASDAQ:SITM) last released its quarterly earnings results on Wednesday, May 6th. The company reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.30. The business had revenue of $113.57 million during the quarter, compared to analyst estimates 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 was up 88.3% on a year-over-year basis. During the same period last year, the business earned $0.26 EPS. On average, sell-side analysts forecast that SiTime Corporation will post 3.23 EPS for the current fiscal year.

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.