2,706 Shares in SiTime Corporation $SITM Purchased by O Neil Global Advisors Inc.

O Neil Global Advisors Inc. acquired a new stake in SiTime Corporation (NASDAQ:SITM) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,706 shares of the company’s stock, valued at approximately $815,000.

Other institutional investors have also modified their holdings of the company. Hantz Financial Services Inc. boosted its holdings in shares of SiTime by 190.3% in the third quarter. Hantz Financial Services Inc. now owns 90 shares of the company’s stock valued at $27,000 after purchasing an additional 59 shares during the period. Salomon & Ludwin LLC bought a new position in SiTime during the 3rd quarter worth about $47,000. Global Retirement Partners LLC raised its holdings in shares of SiTime by 3,220.0% in the 3rd quarter. Global Retirement Partners LLC now owns 166 shares of the company’s stock valued at $50,000 after purchasing an additional 161 shares in the last quarter. Advisors Asset Management Inc. lifted its position in shares of SiTime by 33.6% in the 1st quarter. Advisors Asset Management Inc. now owns 350 shares of the company’s stock worth $54,000 after purchasing an additional 88 shares during the period. Finally, Bessemer Group Inc. lifted its position in shares of SiTime by 27.4% in the 3rd quarter. Bessemer Group Inc. now owns 186 shares of the company’s stock worth $55,000 after purchasing an additional 40 shares during the period. 84.31% of the stock is owned by hedge funds and other institutional investors.

SiTime Price Performance

Shares of SITM stock opened at $406.97 on Monday. The stock’s fifty day moving average price is $372.94 and its 200 day moving average price is $312.33. SiTime Corporation has a 1-year low of $105.40 and a 1-year high of $446.95. The company has a market cap of $10.70 billion, a price-to-earnings ratio of -223.61 and a beta of 2.51.

SiTime (NASDAQ:SITM) last issued its quarterly earnings results on Wednesday, February 4th. The company reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.33. SiTime had a negative return on equity of 2.06% and a negative net margin of 13.13%.The business had revenue of $113.29 million during the quarter, compared to the consensus estimate of $101.91 million. During the same quarter last year, the company earned $0.48 earnings per share. The company’s quarterly revenue was up 66.3% on a year-over-year basis. As a group, equities research analysts anticipate that SiTime Corporation will post -2.44 earnings per share for the current year.

Insider Activity at SiTime

In other SiTime news, Director Akira Takata sold 3,500 shares of the firm’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $431.73, for a total value of $1,511,055.00. Following the completion of the transaction, the director owned 13,734 shares of the company’s stock, valued at approximately $5,929,379.82. This trade represents a 20.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Piyush B. Sevalia sold 566 shares of SiTime stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $413.08, for a total transaction of $233,803.28. Following the sale, the insider owned 93,489 shares of the company’s stock, valued at $38,618,436.12. The trade was a 0.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 25,278 shares of company stock worth $9,796,580 in the last 90 days. 2.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

SITM has been the subject of a number of recent research reports. Wall Street Zen raised shares of SiTime from a “hold” rating to a “buy” rating in a research note on Saturday, February 14th. Barclays set a $400.00 price target on SiTime in a report on Thursday, February 5th. Needham & Company LLC boosted their price target on SiTime from $400.00 to $450.00 and gave the stock a “buy” rating in a research report on Thursday, February 5th. The Goldman Sachs Group assumed coverage on SiTime in a research report on Monday, December 15th. They set a “buy” rating and a $420.00 price objective on the stock. Finally, Stifel Nicolaus set a $450.00 target price on shares of SiTime in a report on Thursday, February 5th. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $409.38.

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.