2,225 Shares in SiTime Corporation $SITM Acquired by Sierra Summit Advisors LLC

Sierra Summit Advisors LLC acquired a new stake in SiTime Corporation (NASDAQ:SITM) in the first quarter, according to its most recent filing with the SEC. The fund acquired 2,225 shares of the company’s stock, valued at approximately $768,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of SITM. Rakuten Securities Inc. boosted its holdings in shares of SiTime by 188.5% in the fourth quarter. Rakuten Securities Inc. now owns 75 shares of the company’s stock worth $26,000 after acquiring an additional 49 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in shares of SiTime in the fourth quarter valued at $33,000. Larson Financial Group LLC raised its stake in shares of SiTime by 3,200.0% during the 3rd quarter. Larson Financial Group LLC now owns 99 shares of the company’s stock valued at $30,000 after purchasing an additional 96 shares during the period. Danske Bank A S bought a new stake in shares of SiTime during the 4th quarter valued at $35,000. Finally, Bernard Wealth Management Corp. purchased a new stake in SiTime during the 4th quarter worth about $41,000. Institutional investors own 84.31% of the company’s stock.

SiTime Stock Performance

Shares of SITM stock opened at $601.66 on Friday. SiTime Corporation has a 52-week low of $186.49 and a 52-week high of $901.81. The company has a market capitalization of $15.88 billion, a PE ratio of -595.70 and a beta of 2.91. The business’s fifty day moving average is $695.57 and its 200 day moving average is $489.90.

SiTime (NASDAQ:SITM) last posted its earnings results on Wednesday, May 6th. The company reported $1.44 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $103.51 million. During the same period in the previous year, the business earned $0.26 earnings per share. The firm’s revenue was up 88.3% on a year-over-year basis. On average, sell-side analysts forecast that SiTime Corporation will post 3.23 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on SITM shares. Wall Street Zen downgraded SiTime from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. Stifel Nicolaus upped their price target on SiTime from $450.00 to $500.00 and gave the company a “buy” rating in a research report on Thursday, April 16th. Zacks Research raised shares of SiTime from a “hold” rating to a “strong-buy” rating in a report on Friday, May 15th. Weiss Ratings restated a “sell (d-)” rating on shares of SiTime in a research report on Tuesday, April 21st. Finally, Needham & Company LLC raised their price objective on shares of SiTime from $450.00 to $850.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. One 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 company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $661.88.

Insider Transactions at SiTime

In other news, insider Fariborz Assaderaghi sold 1,000 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $702.90, for a total transaction of $702,900.00. Following the completion of the transaction, the insider owned 78,936 shares of the company’s stock, valued at approximately $55,484,114.40. The trade was a 1.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Torsten Kreindl sold 710 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $720.00, for a total transaction of $511,200.00. Following the completion of the transaction, the director owned 13,141 shares in the company, valued at approximately $9,461,520. This trade represents a 5.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 73,375 shares of company stock worth $51,931,438. 1.40% of the stock is owned by insiders.

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.