SiTime Corporation $SITM Shares Sold by Fox Run Management L.L.C.

Fox Run Management L.L.C. decreased its position in shares of SiTime Corporation (NASDAQ:SITM) by 8.3% during the 1st quarter, Holdings Channel.com reports. The firm owned 1,660 shares of the company’s stock after selling 150 shares during the quarter. Fox Run Management L.L.C.’s holdings in SiTime were worth $254,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SITM. Fourth Dimension Wealth LLC bought a new stake in shares of SiTime in the 4th quarter worth $25,000. Opal Wealth Advisors LLC bought a new stake in SiTime in the first quarter worth about $32,000. CWM LLC lifted its holdings in SiTime by 69.0% in the 1st quarter. CWM LLC now owns 453 shares of the company’s stock valued at $69,000 after acquiring an additional 185 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in SiTime in the 4th quarter valued at about $81,000. Finally, Aquatic Capital Management LLC bought a new position in shares of SiTime during the 4th quarter valued at about $192,000. 84.31% of the stock is owned by institutional investors.

Insider Buying and Selling at SiTime

In other SiTime news, insider Samsheer Ahamad sold 4,000 shares of the firm’s stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $200.00, for a total transaction of $800,000.00. Following the completion of the sale, the insider directly owned 72,021 shares in the company, valued at approximately $14,404,200. This trade represents a 5.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Rajesh Vashist sold 10,000 shares of SiTime stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $215.00, for a total value of $2,150,000.00. Following the transaction, the chief executive officer directly owned 474,763 shares in the company, valued at approximately $102,074,045. This trade represents a 2.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,861 shares of company stock valued at $5,006,357 in the last ninety days. Company insiders own 2.10% of the company’s stock.

SiTime Price Performance

SITM stock opened at $221.60 on Thursday. SiTime Corporation has a 52-week low of $105.40 and a 52-week high of $268.18. The company’s 50 day simple moving average is $210.07 and its 200-day simple moving average is $184.63. The firm has a market capitalization of $5.76 billion, a P/E ratio of -63.68 and a beta of 2.20.

SiTime (NASDAQ:SITM) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.18. SiTime had a negative net margin of 32.15% and a negative return on equity of 7.54%. The firm had revenue of $69.49 million during the quarter, compared to analyst estimates of $64.66 million. During the same quarter last year, the business posted $0.12 EPS. The company’s revenue was up 58.3% on a year-over-year basis. Sell-side analysts predict that SiTime Corporation will post -2.44 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Stifel Nicolaus increased their target price on shares of SiTime from $210.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, July 18th. UBS Group began coverage on SiTime in a report on Thursday, August 14th. They issued a “buy” rating and a $260.00 price target on the stock. Finally, Barclays increased their price objective on SiTime from $180.00 to $220.00 and gave the company an “underweight” rating in a research report on Thursday, August 7th. Five analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, SiTime presently has a consensus rating of “Moderate Buy” and a consensus price target of $240.00.

SiTime 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.