Calamos Advisors LLC Makes New $5.46 Million Investment in SiTime Corporation $SITM

Calamos Advisors LLC acquired a new stake in shares of SiTime Corporation (NASDAQ:SITM) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 25,626 shares of the company’s stock, valued at approximately $5,460,000.

Several other large investors have also made changes to their positions in the company. Peregrine Investment Management Inc. lifted its holdings in SiTime by 28.4% during the 2nd quarter. Peregrine Investment Management Inc. now owns 67,870 shares of the company’s stock valued at $14,462,000 after purchasing an additional 15,000 shares during the last quarter. Fred Alger Management LLC raised its stake in shares of SiTime by 45.5% in the first quarter. Fred Alger Management LLC now owns 128,525 shares of the company’s stock valued at $19,648,000 after acquiring an additional 40,220 shares during the last quarter. Toth Financial Advisory Corp acquired a new position in shares of SiTime in the 2nd quarter worth approximately $298,000. Verdence Capital Advisors LLC bought a new stake in SiTime during the 2nd quarter worth approximately $230,000. Finally, William Blair Investment Management LLC grew its position in SiTime by 4.1% during the 2nd quarter. William Blair Investment Management LLC now owns 112,789 shares of the company’s stock worth $24,033,000 after acquiring an additional 4,469 shares during the last quarter. Institutional investors own 84.31% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SITM. Stifel Nicolaus set a $360.00 price objective on SiTime in a research report on Thursday, November 6th. Roth Capital reissued a “buy” rating and set a $350.00 price objective on shares of SiTime in a report on Thursday, November 6th. UBS Group raised their price objective on shares of SiTime from $355.00 to $375.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. Raymond James Financial reiterated an “outperform” rating and set a $270.00 target price (up from $250.00) on shares of SiTime in a research report on Friday, August 29th. Finally, Barclays raised their price target on shares of SiTime from $220.00 to $260.00 and gave the company an “underweight” rating in a report on Thursday, November 6th. Five analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $329.17.

SiTime Trading Down 5.6%

Shares of NASDAQ SITM opened at $288.66 on Friday. SiTime Corporation has a 1 year low of $105.40 and a 1 year high of $386.00. The firm’s 50-day moving average is $288.47 and its 200-day moving average is $235.07. The firm has a market capitalization of $7.53 billion, a PE ratio of -97.52 and a beta of 2.36.

SiTime (NASDAQ:SITM) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.16. SiTime had a negative net margin of 25.18% and a negative return on equity of 5.69%. The business had revenue of $83.57 million during the quarter, compared to the consensus estimate of $78.08 million. During the same period in the previous year, the firm posted $0.40 earnings per share. SiTime’s revenue for the quarter was up 44.8% compared to the same quarter last year. As a group, equities research analysts anticipate that SiTime Corporation will post -2.44 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Fariborz Assaderaghi sold 3,000 shares of the firm’s stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $231.75, for a total value of $695,250.00. Following the transaction, the insider directly owned 90,433 shares in the company, valued at $20,957,847.75. This trade represents a 3.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Elizabeth A. Howe sold 5,099 shares of the company’s stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $319.00, for a total value of $1,626,581.00. Following the completion of the sale, the executive vice president owned 59,070 shares of the company’s stock, valued at $18,843,330. This represents a 7.95% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 44,867 shares of company stock worth $12,458,213 over the last 90 days. 2.10% of the stock is currently owned by corporate insiders.

About SiTime

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.