Sherbrooke Park Advisers LLC Takes $249,000 Position in SiTime Co. (NASDAQ:SITM)

Sherbrooke Park Advisers LLC acquired a new stake in shares of SiTime Co. (NASDAQ:SITM) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,162 shares of the company’s stock, valued at approximately $249,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Barclays PLC grew its position in SiTime by 80.7% in the third quarter. Barclays PLC now owns 37,982 shares of the company’s stock valued at $6,515,000 after acquiring an additional 16,964 shares during the period. Crossmark Global Holdings Inc. grew its position in SiTime by 39.0% in the fourth quarter. Crossmark Global Holdings Inc. now owns 1,915 shares of the company’s stock valued at $411,000 after acquiring an additional 537 shares during the period. Nisa Investment Advisors LLC grew its position in SiTime by 601.1% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,318 shares of the company’s stock valued at $283,000 after acquiring an additional 1,130 shares during the period. Blue Trust Inc. grew its position in SiTime by 118.0% in the fourth quarter. Blue Trust Inc. now owns 327 shares of the company’s stock valued at $70,000 after acquiring an additional 177 shares during the period. Finally, KBC Group NV grew its position in SiTime by 3.0% in the fourth quarter. KBC Group NV now owns 6,402 shares of the company’s stock valued at $1,373,000 after acquiring an additional 184 shares during the period. 84.31% of the stock is currently owned by institutional investors.

SiTime Stock Performance

SiTime stock opened at $205.90 on Tuesday. SiTime Co. has a 52 week low of $105.40 and a 52 week high of $268.18. The firm has a market cap of $4.88 billion, a P/E ratio of -50.84 and a beta of 2.24. The business’s fifty day moving average is $158.89 and its two-hundred day moving average is $190.76.

SiTime (NASDAQ:SITM) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.15. SiTime had a negative return on equity of 10.12% and a negative net margin of 46.18%. The business had revenue of $60.31 million for the quarter, compared to analyst estimates of $54.01 million. During the same quarter in the prior year, the firm posted ($0.08) earnings per share. The firm’s revenue for the quarter was up 82.7% compared to the same quarter last year. On average, equities research analysts predict that SiTime Co. will post -2.44 earnings per share for the current year.

Insider Activity

In other news, insider Lionel Bonnot sold 3,501 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $174.25, for a total transaction of $610,049.25. Following the transaction, the insider now owns 87,940 shares of the company’s stock, valued at $15,323,545. This represents a 3.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Fariborz Assaderaghi sold 1,267 shares of the company’s stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $147.80, for a total value of $187,262.60. Following the transaction, the insider now directly owns 113,584 shares in the company, valued at $16,787,715.20. This trade represents a 1.10% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,074 shares of company stock valued at $5,408,421 over the last 90 days. 2.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Needham & Company LLC upped their price target on SiTime from $225.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Barclays boosted their price objective on SiTime from $110.00 to $135.00 and gave the stock an “underweight” rating in a research note on Thursday, May 8th. Raymond James reissued an “outperform” rating and issued a $250.00 price objective (up previously from $215.00) on shares of SiTime in a research note on Thursday, February 6th. Finally, Stifel Nicolaus boosted their price objective on SiTime from $180.00 to $210.00 and gave the stock a “buy” rating in a research note on Thursday, May 8th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to MarketBeat, SiTime has a consensus rating of “Moderate Buy” and an average price target of $215.00.

SiTime Company Profile

SiTime Corporation designs, develops, and sells silicon timing systems solutions in Taiwan, Hong Kong, the United States, Singapore, and internationally. The company provides resonators and clock integrated circuits, and various types of oscillators. It serves various markets, including communications, datacenter, enterprise, automotive, industrial, internet of things, mobile, consumer, and aerospace and defense.