Berkshire Capital Holdings Inc. Makes New $2.89 Million Investment in SiTime Corporation $SITM

Berkshire Capital Holdings Inc. acquired a new position in shares of SiTime Corporation (NASDAQ:SITM) during the 4th quarter, Holdings Channel.com reports. The firm acquired 8,180 shares of the company’s stock, valued at approximately $2,889,000. SiTime accounts for 1.0% of Berkshire Capital Holdings Inc.’s holdings, making the stock its 20th largest position.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. boosted its position in SiTime by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 2,825,402 shares of the company’s stock valued at $997,904,000 after acquiring an additional 61,336 shares in the last quarter. Invesco Ltd. lifted its position in SiTime by 1.8% during the 3rd quarter. Invesco Ltd. now owns 1,037,305 shares of the company’s stock worth $312,550,000 after acquiring an additional 18,165 shares during the period. State Street Corp lifted its position in SiTime by 3.7% during the 2nd quarter. State Street Corp now owns 911,280 shares of the company’s stock worth $194,176,000 after acquiring an additional 32,178 shares during the period. Ameriprise Financial Inc. lifted 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 acquiring an additional 132,948 shares during the period. Finally, Wellington Management Group LLP raised 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 valued at $162,027,000 after buying an additional 144,671 shares during the last quarter. Institutional investors own 84.31% of the company’s stock.

SiTime Stock Up 2.4%

Shares of NASDAQ SITM opened at $728.56 on Friday. SiTime Corporation has a 52-week low of $186.49 and a 52-week high of $901.81. The business’s 50 day moving average is $510.07 and its two-hundred day moving average is $408.52. The firm has a market cap of $19.23 billion, a price-to-earnings ratio of -721.35 and a beta of 2.91.

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

Insider Buying and Selling at SiTime

In related news, Director Torsten Kreindl sold 710 shares of the stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $720.00, for a total value of $511,200.00. Following the transaction, the director owned 13,141 shares of the company’s stock, valued at $9,461,520. This represents a 5.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Piyush B. Sevalia sold 2,419 shares of the stock in a transaction on Friday, April 17th. The shares were sold at an average price of $484.05, for a total value of $1,170,916.95. Following the completion of the transaction, the insider directly owned 84,250 shares in the company, valued at $40,781,212.50. This trade represents a 2.79% 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. In the last ninety days, insiders have sold 12,610 shares of company stock valued at $6,210,444. Insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SITM. Roth Mkm reiterated a “buy” rating and set a $900.00 price objective on shares of SiTime in a research note on Thursday, May 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of SiTime in a research note on Tuesday, April 21st. Needham & Company LLC boosted their price objective on SiTime from $450.00 to $850.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Stifel Nicolaus boosted their target price on SiTime from $450.00 to $500.00 and gave the stock a “buy” rating in a report on Thursday, April 16th. Finally, Zacks Research upgraded SiTime from a “hold” rating to a “strong-buy” rating in a report on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $661.88.

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.