Stephens Investment Management Group LLC Takes Position in SiTime Corporation $SITM

Stephens Investment Management Group LLC purchased a new position in SiTime Corporation (NASDAQ:SITM) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 69,885 shares of the company’s stock, valued at approximately $24,135,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Los Angeles Capital Management LLC boosted its holdings in SiTime by 0.3% during the fourth quarter. Los Angeles Capital Management LLC now owns 9,023 shares of the company’s stock worth $3,187,000 after buying an additional 25 shares during the last quarter. Atlas Brown Inc. boosted its stake in SiTime by 1.6% during the 4th quarter. Atlas Brown Inc. now owns 2,292 shares of the company’s stock worth $810,000 after acquiring an additional 37 shares during the last quarter. CWM LLC boosted its stake in SiTime by 4.2% during the 4th quarter. CWM LLC now owns 951 shares of the company’s stock worth $336,000 after acquiring an additional 38 shares during the last quarter. Corient Private Wealth LLC increased its stake in SiTime by 5.9% in the fourth quarter. Corient Private Wealth LLC now owns 703 shares of the company’s stock valued at $249,000 after purchasing an additional 39 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its position in SiTime by 7.7% during the second quarter. Lazard Asset Management LLC now owns 654 shares of the company’s stock valued at $139,000 after purchasing an additional 47 shares during the last quarter. Institutional investors own 84.31% of the company’s stock.

Insider Activity

In other SiTime news, insider Piyush B. Sevalia sold 2,419 shares of the company’s stock in a transaction on Friday, April 17th. The shares were sold at an average price of $484.05, for a total value of $1,170,916.95. Following the transaction, the insider directly owned 84,250 shares in the company, valued at $40,781,212.50. The trade was a 2.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Fariborz Assaderaghi sold 1,709 shares of the stock in a transaction dated 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 transaction, 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 73,375 shares of company stock valued at $51,931,438. 1.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

SITM has been the subject of a number of analyst reports. Roth Mkm restated a “buy” rating and issued a $900.00 price target on shares of SiTime in a research note on Thursday, May 7th. Zacks Research upgraded shares of SiTime from a “hold” rating to a “strong-buy” rating in a report on Friday, May 15th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $800.00 price target on shares of SiTime in a research report on Thursday, May 7th. Stifel Nicolaus increased their price target on shares of SiTime from $450.00 to $500.00 and gave the company a “buy” rating in a research note on Thursday, April 16th. Finally, UBS Group lifted their price objective on shares of SiTime from $675.00 to $775.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, SiTime currently has an average rating of “Moderate Buy” and an average target price of $661.88.

SiTime Price Performance

SITM opened at $601.66 on Monday. SiTime Corporation has a 12-month low of $186.49 and a 12-month high of $901.81. The business has a 50 day moving average of $695.57 and a 200-day moving average of $490.79. The stock has a market cap of $15.88 billion, a price-to-earnings ratio of -595.70 and a beta of 2.91.

SiTime (NASDAQ:SITM) last posted its earnings results on Wednesday, May 6th. The company reported $1.44 earnings per share for the quarter, topping 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 business 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 firm earned $0.26 EPS. The firm’s revenue was up 88.3% compared to the same quarter last year. As a group, analysts expect that SiTime Corporation will post 3.23 earnings per share for the current 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.