Profund Advisors LLC Makes New $222,000 Investment in SiTime Corporation $SITM

Profund Advisors LLC bought a new position in SiTime Corporation (NASDAQ:SITM) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,040 shares of the company’s stock, valued at approximately $222,000.

Several other large investors have also recently modified their holdings of the stock. Game Plan Financial Advisors LLC bought a new position in SiTime in the 2nd quarter worth about $25,000. Advisors Asset Management Inc. increased its stake in SiTime by 33.6% during the 1st quarter. Advisors Asset Management Inc. now owns 350 shares of the company’s stock valued at $54,000 after purchasing an additional 88 shares in the last quarter. CWM LLC raised its holdings in SiTime by 69.0% in the first quarter. CWM LLC now owns 453 shares of the company’s stock worth $69,000 after buying an additional 185 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of SiTime by 183.0% in the second quarter. Nisa Investment Advisors LLC now owns 600 shares of the company’s stock worth $128,000 after buying an additional 388 shares in the last quarter. Finally, Praxis Investment Management Inc. bought a new position in shares of SiTime in the second quarter worth approximately $202,000. Hedge funds and other institutional investors own 84.31% of the company’s stock.

Insider Activity

In other news, CEO Rajesh Vashist sold 10,000 shares of the stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $329.00, for a total value of $3,290,000.00. Following the transaction, the chief executive officer owned 439,208 shares in the company, valued at $144,499,432. This represents a 2.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Piyush B. Sevalia sold 2,056 shares of the business’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 transaction of $517,084.00. Following the sale, the insider owned 78,757 shares of the company’s stock, valued at $19,807,385.50. This trade represents a 2.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 44,867 shares of company stock worth $12,458,213. Company insiders own 2.10% of the company’s stock.

SiTime Price Performance

NASDAQ SITM opened at $282.58 on Friday. The stock has a market capitalization of $7.38 billion, a price-to-earnings ratio of -95.47 and a beta of 2.36. SiTime Corporation has a 1-year low of $105.40 and a 1-year high of $386.00. The business’s fifty day moving average price is $289.43 and its 200-day moving average price is $236.63.

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Needham & Company LLC raised their price target on shares of SiTime from $250.00 to $360.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. UBS Group lifted their target price on SiTime from $355.00 to $375.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Barclays boosted their price target on SiTime from $220.00 to $260.00 and gave the stock an “underweight” rating in a research note on Thursday, November 6th. Stifel Nicolaus set a $360.00 price objective on SiTime in a research report on Thursday, November 6th. Finally, Roth Capital reiterated a “buy” rating and issued a $350.00 price objective on shares of SiTime in a report on Thursday, November 6th. Five research analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $329.17.

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.