SiTime Corporation $SITM Shares Sold by Lisanti Capital Growth LLC

Lisanti Capital Growth LLC decreased its holdings in SiTime Corporation (NASDAQ:SITM) by 8.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 19,414 shares of the company’s stock after selling 1,761 shares during the period. SiTime makes up approximately 1.4% of Lisanti Capital Growth LLC’s portfolio, making the stock its 23rd biggest position. Lisanti Capital Growth LLC’s holdings in SiTime were worth $5,850,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Arizona State Retirement System boosted its position in shares of SiTime by 17.7% in the third quarter. Arizona State Retirement System now owns 6,445 shares of the company’s stock worth $1,942,000 after acquiring an additional 967 shares during the last quarter. New York State Common Retirement Fund increased its position in SiTime by 14.3% during the third quarter. New York State Common Retirement Fund now owns 15,627 shares of the company’s stock worth $4,709,000 after purchasing an additional 1,954 shares during the last quarter. Ballentine Partners LLC purchased a new position in SiTime during the third quarter worth approximately $233,000. Federated Hermes Inc. boosted its holdings in shares of SiTime by 25.0% in the 3rd quarter. Federated Hermes Inc. now owns 125,000 shares of the company’s stock valued at $37,664,000 after purchasing an additional 25,000 shares during the last quarter. Finally, Scalar Gauge Management LLC acquired a new position in shares of SiTime in the 3rd quarter valued at $8,135,000. Institutional investors and hedge funds own 84.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on SITM shares. Weiss Ratings restated a “sell (d-)” rating on shares of SiTime in a report on Thursday, January 22nd. UBS Group upped their price target on SiTime from $375.00 to $430.00 and gave the stock a “buy” rating in a research note on Monday. Needham & Company LLC raised their price objective on SiTime from $250.00 to $360.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Barclays set a $360.00 price objective on SiTime and gave the company an “equal weight” rating in a research note on Thursday, January 15th. Finally, Roth Mkm reissued a “buy” rating and set a $350.00 target price on shares of SiTime in a research report on Thursday, November 6th. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $367.50.

Insider Transactions at SiTime

In other news, insider Fariborz Assaderaghi sold 1,500 shares of the company’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $291.58, for a total value of $437,370.00. Following the completion of the transaction, the insider directly owned 84,815 shares in the company, valued at approximately $24,730,357.70. This represents a 1.74% 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 this link. Also, CEO Rajesh Vashist sold 10,000 shares of the firm’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $329.00, for a total transaction of $3,290,000.00. Following the sale, the chief executive officer directly owned 439,208 shares of the company’s stock, valued at approximately $144,499,432. The trade was a 2.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 21,500 shares of company stock valued at $6,791,710. Corporate insiders own 2.10% of the company’s stock.

SiTime Price Performance

Shares of NASDAQ SITM opened at $363.11 on Friday. SiTime Corporation has a 1-year low of $105.40 and a 1-year high of $393.80. The company has a market capitalization of $9.48 billion, a price-to-earnings ratio of -122.67 and a beta of 2.49. The business has a 50-day moving average of $350.54 and a 200-day moving average of $289.60.

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

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.