O Neil Global Advisors Inc. Buys New Holdings in SiTime Corporation $SITM

O Neil Global Advisors Inc. purchased a new position in shares of SiTime Corporation (NASDAQ:SITM) in the third quarter, Holdings Channel reports. The fund purchased 2,706 shares of the company’s stock, valued at approximately $815,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of SiTime by 4.7% in the 3rd quarter. Vanguard Group Inc. now owns 2,764,066 shares of the company’s stock valued at $832,841,000 after acquiring an additional 123,287 shares during the last quarter. Invesco Ltd. lifted its position in SiTime by 4.8% during the second quarter. Invesco Ltd. now owns 1,019,140 shares of the company’s stock valued at $217,158,000 after purchasing an additional 46,721 shares during the period. State Street Corp boosted its holdings in SiTime by 3.7% in the second quarter. State Street Corp now owns 911,280 shares of the company’s stock valued at $194,176,000 after purchasing an additional 32,178 shares during the last quarter. Ameriprise Financial Inc. grew its position in SiTime by 22.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 736,281 shares of the company’s stock worth $156,887,000 after purchasing an additional 132,948 shares during the period. Finally, Geode Capital Management LLC grew its position in SiTime by 11.2% during the 2nd quarter. Geode Capital Management LLC now owns 506,400 shares of the company’s stock worth $107,918,000 after purchasing an additional 51,063 shares during the period. 84.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Rajesh Vashist sold 2,000 shares of the firm’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $369.20, for a total value of $738,400.00. Following the transaction, the chief executive officer directly 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 filing with the SEC, which can be accessed through the SEC website. Also, insider Samsheer Ahamad sold 9,100 shares of the business’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $441.47, for a total value of $4,017,377.00. Following the sale, the insider owned 52,938 shares of the company’s stock, valued at approximately $23,370,538.86. This trade represents a 14.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 25,278 shares of company stock worth $9,796,580. Company insiders own 2.30% of the company’s stock.

SiTime Price Performance

Shares of SITM stock opened at $406.97 on Monday. SiTime Corporation has a 1-year low of $105.40 and a 1-year high of $446.95. The company has a market cap of $10.70 billion, a price-to-earnings ratio of -223.61 and a beta of 2.51. The stock has a 50 day simple moving average of $372.94 and a 200-day simple moving average of $312.33.

SiTime (NASDAQ:SITM) last issued its quarterly earnings results on Wednesday, February 4th. The company reported $1.53 EPS for the quarter, topping the consensus estimate of $1.20 by $0.33. The company had revenue of $113.29 million during the quarter, compared to analyst estimates 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 revenue was up 66.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.48 EPS. Analysts anticipate that SiTime Corporation will post -2.44 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SITM has been the subject of several analyst reports. UBS Group boosted their price objective on SiTime from $430.00 to $485.00 and gave the company a “buy” rating in a report on Thursday, February 5th. Stifel Nicolaus set a $450.00 price target on SiTime in a report on Thursday, February 5th. Loop Capital assumed coverage on shares of SiTime in a research note on Friday, November 21st. They set a “buy” rating and a $350.00 price objective on the stock. The Goldman Sachs Group started coverage on shares of SiTime in a report on Monday, December 15th. They set a “buy” rating and a $420.00 target price for the company. Finally, Barclays set a $400.00 price target on shares of SiTime in a report on Thursday, February 5th. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, SiTime has a consensus rating of “Moderate Buy” and a consensus target price of $409.38.

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.