Towarzystwo Funduszy Inwestycyjnych PZU SA Makes New Investment in SiTime Corporation $SITM

Towarzystwo Funduszy Inwestycyjnych PZU SA purchased a new position in shares of SiTime Corporation (NASDAQ:SITM) in the fourth quarter, HoldingsChannel reports. The fund purchased 2,425 shares of the company’s stock, valued at approximately $856,000.

A number of other large investors have also recently bought and sold shares of SITM. Royal Bank of Canada boosted its position in SiTime by 12.5% during the 1st quarter. Royal Bank of Canada now owns 4,411 shares of the company’s stock worth $675,000 after acquiring an additional 491 shares during the last quarter. Advisors Asset Management Inc. boosted its position 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 during the last quarter. AQR Capital Management LLC boosted its position 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 during the last quarter. Intech Investment Management LLC boosted its holdings in shares of SiTime by 21.6% in the 1st quarter. Intech Investment Management LLC now owns 8,322 shares of the company’s stock valued at $1,272,000 after buying an additional 1,477 shares during the last quarter. Finally, M&T Bank Corp acquired a new stake in shares of SiTime in the 2nd quarter valued at approximately $240,000. Institutional investors and hedge funds own 84.31% of the company’s stock.

Insiders Place Their Bets

In related news, insider Fariborz Assaderaghi sold 1,000 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $702.90, for a total value of $702,900.00. Following the sale, the insider owned 78,936 shares in the company, valued at approximately $55,484,114.40. This represents a 1.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christine Heckart sold 1,290 shares of the stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $700.00, for a total value of $903,000.00. Following the completion of the sale, the director owned 790 shares in the company, valued at approximately $553,000. This trade represents a 62.02% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 52,624 shares of company stock worth $35,942,053 in the last quarter. Company insiders own 1.40% of the company’s stock.

SiTime Stock Performance

SITM opened at $729.89 on Monday. SiTime Corporation has a 1-year low of $186.49 and a 1-year high of $901.81. The stock’s fifty day simple moving average is $618.04 and its 200 day simple moving average is $452.77. The stock has a market cap of $19.27 billion, a PE ratio of -722.66 and a beta of 2.94.

SiTime (NASDAQ:SITM) last posted 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. 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 analysts’ expectations of $103.51 million. During the same quarter in the prior year, the business earned $0.26 EPS. The firm’s revenue for the quarter was up 88.3% on a year-over-year basis. Equities analysts forecast that SiTime Corporation will post 3.23 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SITM. Weiss Ratings reissued a “sell (d-)” rating on shares of SiTime in a report on Tuesday, April 21st. UBS Group increased their price objective on SiTime from $675.00 to $775.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Needham & Company LLC increased their price objective on SiTime from $450.00 to $850.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Wall Street Zen raised SiTime from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Finally, Barclays raised SiTime from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $400.00 to $850.00 in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $661.88.

SiTime 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.