First Trust Advisors LP Has $9.53 Million Stock Holdings in SiTime Corporation $SITM

First Trust Advisors LP reduced its position in shares of SiTime Corporation (NASDAQ:SITM) by 13.7% during the 1st quarter, HoldingsChannel.com reports. The firm owned 27,583 shares of the company’s stock after selling 4,361 shares during the quarter. First Trust Advisors LP’s holdings in SiTime were worth $9,526,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in SITM. Rakuten Securities Inc. increased its position in 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 acquiring an additional 49 shares during the period. Parallel Advisors LLC lifted its holdings in shares of SiTime by 26.2% during the first quarter. Parallel Advisors LLC now owns 77 shares of the company’s stock worth $27,000 after purchasing an additional 16 shares during the period. Larson Financial Group LLC grew its stake in shares of SiTime by 3,200.0% in the third quarter. Larson Financial Group LLC now owns 99 shares of the company’s stock worth $30,000 after purchasing an additional 96 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of SiTime in the fourth quarter worth $33,000. Finally, Danske Bank A S acquired a new stake in SiTime in the fourth quarter valued at $35,000. Institutional investors and hedge funds own 84.31% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on SITM shares. Barclays raised SiTime from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $400.00 to $850.00 in a research report on Thursday, May 7th. UBS Group increased their price target on SiTime from $675.00 to $775.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Roth Capital restated a “buy” rating and set a $900.00 price objective on shares of SiTime in a research report on Thursday, May 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SiTime in a research note on Friday, July 17th. Finally, Zacks Research cut 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 issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $661.88.

Insider Transactions at SiTime

In related news, insider Fariborz Assaderaghi sold 1,709 shares of the firm’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 transaction of $1,250,116.41. Following the completion of the sale, the insider owned 81,436 shares of the company’s stock, valued at $59,569,619.64. This trade represents a 2.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Akira Takata sold 1,500 shares of SiTime stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $860.86, for a total value of $1,291,290.00. Following the completion of the sale, the director owned 12,234 shares of the company’s stock, valued at approximately $10,531,761.24. The trade was a 10.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 69,709 shares of company stock worth $50,230,546. Corporate insiders own 1.40% of the company’s stock.

SiTime Stock Up 1.4%

Shares of NASDAQ SITM opened at $535.20 on Friday. SiTime Corporation has a twelve month low of $186.49 and a twelve month high of $901.81. The firm has a fifty day simple moving average of $647.50 and a 200 day simple moving average of $519.67. The company has a market capitalization of $14.13 billion, a PE ratio of -529.90 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 the consensus estimate of $1.14 by $0.30. The business had revenue of $113.57 million for the quarter, compared to analyst estimates of $103.51 million. SiTime had a negative net margin of 6.38% and a positive return on equity of 0.53%. SiTime’s revenue for the quarter was up 88.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.26 earnings per share. As a group, equities analysts expect that SiTime Corporation will post 3.23 earnings per share for the current fiscal year.

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.