Hillsdale Investment Management Inc. Purchases 954 Shares of SiTime Corporation $SITM

Hillsdale Investment Management Inc. grew its position in SiTime Corporation (NASDAQ:SITM) by 3,816.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 979 shares of the company’s stock after purchasing an additional 954 shares during the period. Hillsdale Investment Management Inc.’s holdings in SiTime were worth $338,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Rakuten Securities Inc. grew 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 buying an additional 49 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in SiTime during the 4th quarter worth $33,000. Larson Financial Group LLC lifted its holdings in SiTime by 3,200.0% during the third quarter. Larson Financial Group LLC now owns 99 shares of the company’s stock worth $30,000 after acquiring an additional 96 shares in the last quarter. Danske Bank A S bought a new position in SiTime during the fourth quarter worth about $35,000. Finally, Bernard Wealth Management Corp. acquired a new position in SiTime in the fourth quarter valued at about $41,000. 84.31% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. The Goldman Sachs Group restated a “buy” rating and issued a $800.00 price target on shares of SiTime in a report on Thursday, May 7th. Stifel Nicolaus boosted their price objective on SiTime from $450.00 to $500.00 and gave the company a “buy” rating in a research report on Thursday, April 16th. Roth Capital reissued a “buy” rating and set a $900.00 target price on shares of SiTime in a research note on Thursday, May 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of SiTime in a research note on Tuesday, April 21st. Finally, Zacks Research downgraded shares of SiTime from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Eight research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $661.88.

SiTime Price Performance

SiTime stock opened at $554.97 on Friday. The firm has a 50-day moving average of $694.08 and a 200-day moving average of $506.38. SiTime Corporation has a one year low of $186.49 and a one year high of $901.81. The company has a market cap of $14.65 billion, a price-to-earnings ratio of -549.48 and a beta of 2.91.

SiTime (NASDAQ:SITM) last released its 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 business had revenue of $113.57 million for the quarter, compared to the consensus estimate of $103.51 million. During the same quarter in the previous year, the business earned $0.26 earnings per share. SiTime’s quarterly revenue was up 88.3% on a year-over-year basis. As a group, sell-side analysts expect that SiTime Corporation will post 3.23 earnings per share for the current year.

Insider Transactions at SiTime

In other SiTime news, 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 transaction, the director owned 19,898 shares of the company’s stock, valued at $14,473,407.24. The trade was a 9.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Fariborz Assaderaghi sold 1,709 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $731.49, for a total value of $1,250,116.41. Following the sale, the insider owned 81,436 shares in the company, valued at approximately $59,569,619.64. This represents a 2.06% decrease in their position. 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 69,709 shares of company stock valued at $50,230,546. 1.40% of the stock is owned by insiders.

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.