Hillsdale Investment Management Inc. Has $338,000 Stock Position in SiTime Corporation $SITM

Hillsdale Investment Management Inc. increased its holdings in shares of SiTime Corporation (NASDAQ:SITM) by 3,816.0% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 979 shares of the company’s stock after purchasing an additional 954 shares during the period. Hillsdale Investment Management Inc.’s holdings in SiTime were worth $338,000 as of its most recent filing with the SEC.

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

Analysts Set New Price Targets

Several equities analysts have commented on SITM shares. The Goldman Sachs Group reiterated a “buy” rating and issued a $800.00 price objective on shares of SiTime in a report on Thursday, May 7th. Needham & Company LLC lifted 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. Weiss Ratings reiterated a “sell (d-)” rating on shares of SiTime in a research note on Tuesday, April 21st. UBS Group upped their price target on shares of SiTime from $675.00 to $775.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Finally, Wall Street Zen raised shares of SiTime from a “hold” rating to a “buy” rating in a report on Sunday, July 12th. Eight 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, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $661.88.

SiTime Trading Down 1.7%

Shares of SITM stock opened at $554.97 on Friday. The stock has a market cap of $14.65 billion, a P/E ratio of -549.48 and a beta of 2.91. The stock has a 50 day simple moving average of $694.08 and a 200 day simple moving average of $506.38. SiTime Corporation has a 1 year low of $186.49 and a 1 year high of $901.81.

SiTime (NASDAQ:SITM) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.30. The firm had revenue of $113.57 million for the quarter, compared to analyst estimates of $103.51 million. SiTime had a positive return on equity of 0.53% and a negative net margin of 6.38%.The company’s revenue was up 88.3% on a year-over-year basis. During the same quarter last year, the company earned $0.26 EPS. Analysts forecast that SiTime Corporation will post 3.23 EPS for the current year.

Insider Activity at SiTime

In related news, Director Torsten Kreindl sold 710 shares of the business’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $720.00, for a total value of $511,200.00. Following the completion of the transaction, the director owned 13,141 shares of the company’s stock, valued at $9,461,520. The trade was a 5.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Rajesh Vashist sold 5,000 shares of the company’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $750.00, for a total transaction of $3,750,000.00. Following the sale, the chief executive officer directly owned 9,781 shares of the company’s stock, valued at $7,335,750. This represents a 33.83% 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. Insiders sold a total of 69,709 shares of company stock worth $50,230,546 in the last quarter. 1.40% of the stock is currently owned by corporate insiders.

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.