Fox Run Management L.L.C. Invests $1.46 Million in SiTime Corporation $SITM

Fox Run Management L.L.C. purchased a new position in SiTime Corporation (NASDAQ:SITM) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,137 shares of the company’s stock, valued at approximately $1,461,000.

A number of other hedge funds have also recently made changes to their positions in SITM. Royal Bank of Canada grew its holdings in shares of SiTime by 12.5% in the first quarter. Royal Bank of Canada now owns 4,411 shares of the company’s stock worth $675,000 after purchasing an additional 491 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in SiTime by 33.6% during the 1st quarter. Advisors Asset Management Inc. now owns 350 shares of the company’s stock worth $54,000 after acquiring an additional 88 shares in the last quarter. AQR Capital Management LLC grew its holdings in SiTime by 310.8% during the 1st 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 in the last quarter. Intech Investment Management LLC grew its holdings in SiTime by 21.6% during the 1st quarter. Intech Investment Management LLC now owns 8,322 shares of the company’s stock worth $1,272,000 after acquiring an additional 1,477 shares in the last quarter. Finally, M&T Bank Corp bought a new position in SiTime during the 2nd quarter worth about $240,000. 84.31% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on SITM. Barclays upgraded shares of SiTime from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $400.00 to $850.00 in a report on Thursday, May 7th. Needham & Company LLC increased their target price on shares of SiTime from $450.00 to $850.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. UBS Group increased their target price on shares of SiTime from $675.00 to $775.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Wall Street Zen upgraded shares of SiTime from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $800.00 target price on shares of SiTime in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $661.88.

Insider Buying and Selling at SiTime

In other SiTime news, Director Christine Heckart sold 1,290 shares of the stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $700.00, for a total transaction of $903,000.00. Following the completion of the sale, the director directly owned 790 shares of the company’s stock, valued at approximately $553,000. This represents a 62.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Akira Takata sold 1,500 shares of the stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $860.86, for a total transaction of $1,291,290.00. Following the sale, the director directly owned 12,234 shares of the company’s stock, valued at approximately $10,531,761.24. The trade was a 10.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 52,624 shares of company stock valued at $35,942,053. 1.40% of the stock is currently owned by corporate insiders.

SiTime Stock Performance

SITM stock opened at $664.28 on Tuesday. The firm has a market cap of $17.54 billion, a price-to-earnings ratio of -657.70 and a beta of 2.94. The firm has a 50-day simple moving average of $589.30 and a two-hundred day simple moving average of $440.76. SiTime Corporation has a one year low of $186.49 and a one year high of $901.81.

SiTime (NASDAQ:SITM) last released its quarterly earnings results on Wednesday, May 6th. The company reported $1.44 EPS for the quarter, beating the consensus estimate 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 company’s quarterly revenue was up 88.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.26 earnings per share. As a group, equities analysts predict that SiTime Corporation will post 3.23 earnings per share for the current fiscal year.

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.