SiTime Corporation $SITM Shares Sold by Oak Ridge Investments LLC

Oak Ridge Investments LLC cut its holdings in shares of SiTime Corporation (NASDAQ:SITM) by 3.7% during the second quarter, Holdings Channel.com reports. The fund owned 12,549 shares of the company’s stock after selling 482 shares during the period. Oak Ridge Investments LLC’s holdings in SiTime were worth $2,674,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of SITM. GAMMA Investing LLC grew its position in shares of SiTime by 80.9% during the 1st quarter. GAMMA Investing LLC now owns 1,708 shares of the company’s stock valued at $261,000 after acquiring an additional 764 shares during the period. Opal Wealth Advisors LLC acquired a new stake in SiTime in the 1st quarter worth about $32,000. Oppenheimer Asset Management Inc. boosted its holdings in SiTime by 49.0% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 2,637 shares of the company’s stock worth $403,000 after buying an additional 867 shares during the last quarter. Illinois Municipal Retirement Fund boosted its holdings in SiTime by 9.0% in the 1st quarter. Illinois Municipal Retirement Fund now owns 8,849 shares of the company’s stock worth $1,353,000 after buying an additional 734 shares during the last quarter. Finally, K.J. Harrison & Partners Inc acquired a new stake in SiTime in the 1st quarter worth about $764,000. 84.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at SiTime

In related news, insider Samsheer Ahamad sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $250.00, for a total value of $1,500,000.00. Following the transaction, the insider directly owned 61,888 shares in the company, valued at approximately $15,472,000. This represents a 8.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Piyush B. Sevalia sold 2,056 shares of the company’s stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $251.50, for a total value of $517,084.00. Following the completion of the transaction, the insider owned 78,757 shares in the company, valued at $19,807,385.50. This represents a 2.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 38,367 shares of company stock valued at $9,760,713 in the last ninety days. 2.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SITM. Barclays lifted their price objective on SiTime from $180.00 to $220.00 and gave the stock an “underweight” rating in a report on Thursday, August 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of SiTime in a report on Wednesday. Raymond James Financial reiterated an “outperform” rating and issued a $270.00 price objective (up from $250.00) on shares of SiTime in a report on Friday, August 29th. Stifel Nicolaus lifted their price objective on SiTime from $230.00 to $320.00 and gave the stock a “buy” rating in a report on Thursday, September 18th. Finally, UBS Group lifted their price objective on SiTime from $260.00 to $355.00 and gave the stock a “buy” rating in a report on Monday, October 6th. Five analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $274.17.

SiTime Price Performance

SITM stock opened at $277.65 on Friday. The business has a 50 day simple moving average of $256.44 and a 200-day simple moving average of $209.78. The firm has a market capitalization of $7.22 billion, a PE ratio of -79.78 and a beta of 2.35. SiTime Corporation has a 1 year low of $105.40 and a 1 year high of $323.66.

SiTime (NASDAQ:SITM) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.18. The business had revenue of $69.49 million during the quarter, compared to analyst estimates of $64.66 million. SiTime had a negative return on equity of 7.54% and a negative net margin of 32.15%.The business’s revenue was up 58.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.12 earnings per share. On average, equities research analysts expect that SiTime Corporation will post -2.44 EPS for the current year.

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.