2,037 Shares in SiTime Corporation $SITM Acquired by QP Wealth Management LLC

QP Wealth Management LLC purchased a new position in SiTime Corporation (NASDAQ:SITM) during the fourth quarter, Holdings Channel reports. The fund purchased 2,037 shares of the company’s stock, valued at approximately $719,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. WealthCare Investment Partners LLC bought a new position in shares of SiTime in the fourth quarter worth approximately $256,000. GAMMA Investing LLC raised its holdings in SiTime by 3.2% during the 4th quarter. GAMMA Investing LLC now owns 2,382 shares of the company’s stock valued at $841,000 after buying an additional 74 shares during the last quarter. Swiss Life Asset Management Ltd purchased a new stake in SiTime during the 3rd quarter valued at $305,000. CIBC Bancorp USA Inc. bought a new stake in SiTime in the 3rd quarter worth $685,000. Finally, Sunbelt Securities Inc. bought a new stake in SiTime in the 3rd quarter worth $71,000. Institutional investors own 84.31% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Wall Street Zen downgraded shares of SiTime from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. Raymond James Financial reissued an “outperform” rating on shares of SiTime in a research note on Tuesday, December 2nd. Barclays set a $400.00 price target on SiTime in a report on Thursday, February 5th. Needham & Company LLC upped their price target on SiTime from $400.00 to $450.00 and gave the company a “buy” rating in a research report on Thursday, February 5th. Finally, The Goldman Sachs Group began coverage on SiTime in a report on Monday, December 15th. They issued a “buy” rating and a $420.00 price objective for the company. Seven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $409.38.

SiTime Price Performance

Shares of NASDAQ SITM opened at $325.32 on Friday. SiTime Corporation has a 1 year low of $105.40 and a 1 year high of $446.95. The stock has a market capitalization of $8.56 billion, a P/E ratio of -178.75 and a beta of 2.53. The company’s 50-day moving average is $375.92 and its 200 day moving average is $330.92.

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

Insider Buying and Selling

In other SiTime news, insider Piyush B. Sevalia sold 566 shares of the stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $413.08, for a total value of $233,803.28. Following the completion of the transaction, the insider owned 93,489 shares in the company, valued at approximately $38,618,436.12. This represents a 0.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Fariborz Assaderaghi sold 4,984 shares of the firm’s stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $406.45, for a total value of $2,025,746.80. Following the transaction, the insider directly owned 89,194 shares of the company’s stock, valued at $36,252,901.30. This represents a 5.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 23,263 shares of company stock worth $9,851,457 over the last quarter. Company insiders own 2.10% of the company’s stock.

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.