Royce & Associates LP Sells 10,051 Shares of SiTime Corporation $SITM

Royce & Associates LP lowered its stake in SiTime Corporation (NASDAQ:SITM) by 18.5% in the 4th quarter, Holdings Channel reports. The firm owned 44,425 shares of the company’s stock after selling 10,051 shares during the quarter. Royce & Associates LP’s holdings in SiTime were worth $15,690,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Rakuten Securities Inc. raised its holdings in shares of SiTime by 188.5% in the 4th quarter. Rakuten Securities Inc. now owns 75 shares of the company’s stock valued at $26,000 after acquiring an additional 49 shares in the last quarter. Optiver Holding B.V. raised its holdings in shares of SiTime by 56.1% in the 3rd quarter. Optiver Holding B.V. now owns 89 shares of the company’s stock valued at $27,000 after acquiring an additional 32 shares in the last quarter. Hantz Financial Services Inc. raised its holdings in shares of SiTime by 190.3% in the 3rd quarter. Hantz Financial Services Inc. now owns 90 shares of the company’s stock valued at $27,000 after acquiring an additional 59 shares in the last quarter. Larson Financial Group LLC raised its holdings in shares of 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 in the last quarter. Finally, Danske Bank A S bought a new position in SiTime in the fourth quarter valued at $35,000. Institutional investors own 84.31% of the company’s stock.

SiTime Stock Up 2.0%

NASDAQ SITM opened at $743.12 on Wednesday. SiTime Corporation has a twelve month low of $186.49 and a twelve month high of $901.81. The firm has a market capitalization of $19.62 billion, a PE ratio of -735.76 and a beta of 2.91. The stock’s 50 day moving average is $526.53 and its 200 day moving average is $415.80.

SiTime (NASDAQ:SITM) last released its quarterly earnings results on Wednesday, May 6th. The company reported $1.44 earnings per share for the quarter, beating 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 company had revenue of $113.57 million for the quarter, compared to analyst estimates of $103.51 million. During the same period in the previous year, the company posted $0.26 earnings per share. The firm’s revenue was up 88.3% on a year-over-year basis. On average, research analysts anticipate that SiTime Corporation will post 3.23 earnings per share for the current year.

Insider Transactions at SiTime

In related news, Director Akira Takata sold 1,500 shares of SiTime stock in a transaction that occurred on Tuesday, May 12th. The stock was 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 in the company, valued at $10,531,761.24. The trade was a 10.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Torsten Kreindl sold 710 shares of SiTime stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $720.00, for a total value of $511,200.00. Following the sale, the director owned 13,141 shares in the company, valued at $9,461,520. This represents a 5.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 7,626 shares of company stock valued at $4,184,697. Company insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SITM. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SiTime in a research note on Tuesday, April 21st. Roth Mkm reiterated a “buy” rating and set a $900.00 price objective on shares of SiTime in a research report on Thursday, May 7th. UBS Group raised 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. Zacks Research raised SiTime from a “hold” rating to a “strong-buy” rating in a report on Friday, May 15th. Finally, Stifel Nicolaus raised their price objective on SiTime from $450.00 to $500.00 and gave the company a “buy” rating in a report on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, SiTime currently has a consensus rating of “Moderate Buy” and an average 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.