Edgestream Partners L.P. Buys Shares of 2,195 SiTime Corporation $SITM

Edgestream Partners L.P. bought a new position in shares of SiTime Corporation (NASDAQ:SITM) during the 1st quarter, HoldingsChannel reports. The firm bought 2,195 shares of the company’s stock, valued at approximately $758,000.

A number of other large investors have also recently made changes to their positions in the stock. Rakuten Securities Inc. raised its stake in shares of SiTime by 188.5% during the 4th quarter. Rakuten Securities Inc. now owns 75 shares of the company’s stock valued at $26,000 after purchasing an additional 49 shares during the period. Parallel Advisors LLC lifted its holdings in SiTime by 26.2% during the 1st quarter. Parallel Advisors LLC now owns 77 shares of the company’s stock worth $27,000 after purchasing an additional 16 shares in the last quarter. Larson Financial Group LLC boosted 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 worth $30,000 after purchasing an additional 96 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in SiTime in the 4th quarter worth about $33,000. Finally, Danske Bank A S purchased a new position in SiTime during the 4th quarter valued at about $35,000. 84.31% of the stock is owned by institutional investors.

SiTime Stock Up 5.9%

Shares of NASDAQ SITM opened at $583.06 on Wednesday. The stock’s 50-day simple moving average is $640.73 and its two-hundred day simple moving average is $523.95. SiTime Corporation has a twelve month low of $187.56 and a twelve month high of $901.81. The firm has a market capitalization of $15.39 billion, a P/E ratio of -577.29 and a beta of 2.94.

SiTime (NASDAQ:SITM) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $1.44 earnings per share (EPS) 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 firm had revenue of $113.57 million during the quarter, compared to the consensus estimate of $103.51 million. During the same quarter last year, the company posted $0.26 EPS. The company’s revenue for the quarter was up 88.3% on a year-over-year basis. As a group, research analysts anticipate that SiTime Corporation will post 3.23 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on SITM. 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 cut shares of SiTime from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SiTime in a report on Friday, July 17th. The Goldman Sachs Group reiterated a “buy” rating and issued a $800.00 target price on shares of SiTime in a research note on Thursday, May 7th. Finally, Barclays raised shares of SiTime from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $400.00 to $850.00 in a report on Thursday, May 7th. Eight equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $661.88.

Insider Buying and Selling

In other SiTime news, insider Fariborz Assaderaghi sold 1,709 shares of SiTime stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $731.49, for a total transaction of $1,250,116.41. Following the completion of the sale, the insider directly owned 81,436 shares in the company, valued at $59,569,619.64. The trade was a 2.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Raman Chitkara sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $727.38, for a total transaction of $1,454,760.00. Following the completion of the transaction, the director directly owned 19,898 shares of the company’s stock, valued at approximately $14,473,407.24. This represents a 9.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 69,709 shares of company stock valued at $50,230,546 in the last 90 days. 1.40% of the stock is owned by company 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.