Segall Bryant & Hamill LLC Increases Position in SiTime Corporation $SITM

Segall Bryant & Hamill LLC increased its holdings in SiTime Corporation (NASDAQ:SITM) by 20.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,748 shares of the company’s stock after acquiring an additional 8,816 shares during the period. Segall Bryant & Hamill LLC’s holdings in SiTime were worth $11,026,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Alliancebernstein L.P. grew its stake in SiTime by 2,016.8% in the 1st quarter. Alliancebernstein L.P. now owns 443,227 shares of the company’s stock valued at $67,756,000 after purchasing an additional 422,288 shares during the period. Eventide Asset Management LLC boosted its holdings in shares of SiTime by 5,015.9% in the 1st quarter. Eventide Asset Management LLC now owns 166,214 shares of the company’s stock worth $25,408,000 after buying an additional 162,965 shares during the last quarter. Neuberger Berman Group LLC boosted its holdings in shares of SiTime by 360.8% in the 1st quarter. Neuberger Berman Group LLC now owns 135,211 shares of the company’s stock worth $20,670,000 after buying an additional 105,868 shares during the last quarter. Ameriprise Financial Inc. grew its position in SiTime by 17.0% during the first quarter. Ameriprise Financial Inc. now owns 603,333 shares of the company’s stock valued at $92,233,000 after buying an additional 87,598 shares during the period. Finally, Wellington Management Group LLP increased its holdings in SiTime by 41.9% during the first quarter. Wellington Management Group LLP now owns 277,590 shares of the company’s stock worth $42,435,000 after buying an additional 82,017 shares during the last quarter. 84.31% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other SiTime news, insider Fariborz Assaderaghi sold 3,000 shares of SiTime stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $231.75, for a total transaction of $695,250.00. Following the completion of the transaction, the insider owned 90,433 shares of the company’s stock, valued at $20,957,847.75. The trade was a 3.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Rajesh Vashist sold 10,000 shares of the company’s stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $329.00, for a total value of $3,290,000.00. Following the sale, the chief executive officer owned 439,208 shares in the company, valued at approximately $144,499,432. This represents a 2.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 44,867 shares of company stock worth $12,458,213 over the last quarter. Insiders own 2.30% of the company’s stock.

SiTime Trading Up 6.0%

SITM opened at $267.87 on Monday. SiTime Corporation has a 12 month low of $105.40 and a 12 month high of $386.00. The company has a market cap of $6.99 billion, a PE ratio of -90.50 and a beta of 2.36. The company has a 50 day moving average of $290.62 and a 200 day moving average of $240.76.

SiTime (NASDAQ:SITM) last posted its earnings results on Wednesday, November 5th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.16. SiTime had a negative return on equity of 5.69% and a negative net margin of 25.18%.The firm had revenue of $83.57 million for the quarter, compared to the consensus estimate of $78.08 million. During the same quarter in the prior year, the business posted $0.40 earnings per share. The business’s quarterly revenue was up 44.8% on a year-over-year basis. Research analysts forecast that SiTime Corporation will post -2.44 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have commented on SITM. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SiTime in a research report on Wednesday, October 8th. Barclays lifted their price target on shares of SiTime from $220.00 to $260.00 and gave the stock an “underweight” rating in a report on Thursday, November 6th. Raymond James Financial reissued an “outperform” rating and issued a $270.00 target price (up from $250.00) on shares of SiTime in a research report on Friday, August 29th. Stifel Nicolaus set a $360.00 target price on SiTime in a research note on Thursday, November 6th. Finally, UBS Group increased their price target on SiTime from $355.00 to $375.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $332.14.

SiTime Company Profile

SiTime Corporation designs, develops, and sells silicon timing systems solutions in Taiwan, Hong Kong, the United States, Singapore, and internationally. The company provides resonators and clock integrated circuits, and various types of oscillators. It serves various markets, including communications, datacenter, enterprise, automotive, industrial, internet of things, mobile, consumer, and aerospace and defense.