TimesSquare Capital Management LLC Sells 28,277 Shares of SiTime Corporation $SITM

TimesSquare Capital Management LLC decreased its holdings in shares of SiTime Corporation (NASDAQ:SITM) by 21.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 103,423 shares of the company’s stock after selling 28,277 shares during the period. TimesSquare Capital Management LLC’s holdings in SiTime were worth $36,528,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of SITM. Rakuten Securities Inc. raised its position in SiTime by 188.5% during the 4th quarter. Rakuten Securities Inc. now owns 75 shares of the company’s stock valued at $26,000 after purchasing an additional 49 shares during the last quarter. Hantz Financial Services Inc. raised its position in SiTime by 190.3% during the 3rd quarter. Hantz Financial Services Inc. now owns 90 shares of the company’s stock valued at $27,000 after purchasing an additional 59 shares during the last quarter. Optiver Holding B.V. raised its position in SiTime by 56.1% during the 3rd quarter. Optiver Holding B.V. now owns 89 shares of the company’s stock valued at $27,000 after purchasing an additional 32 shares during the last quarter. Larson Financial Group LLC raised its position in SiTime by 3,200.0% during the 3rd quarter. Larson Financial Group LLC now owns 99 shares of the company’s stock valued at $30,000 after purchasing an additional 96 shares during the last quarter. Finally, Danske Bank A S bought a new position in SiTime during the 4th quarter valued at approximately $35,000. Institutional investors own 84.31% of the company’s stock.

Insider Buying and Selling at SiTime

In other SiTime news, Director Akira Takata sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $860.86, for a total transaction of $1,291,290.00. Following the completion of the transaction, the director owned 12,234 shares of the company’s stock, valued at approximately $10,531,761.24. This trade represents a 10.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Fariborz Assaderaghi sold 4,984 shares of the firm’s stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $406.45, for a total transaction of $2,025,746.80. Following the transaction, the insider directly owned 89,194 shares of the company’s stock, valued at $36,252,901.30. This represents a 5.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 11,900 shares of company stock worth $5,699,244 over the last three months. Company insiders own 1.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SITM. Needham & Company LLC increased their price target on shares of SiTime from $450.00 to $850.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Barclays raised shares of SiTime from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $400.00 to $850.00 in a research note on Thursday, May 7th. Roth Mkm reissued a “buy” rating and issued a $900.00 price target on shares of SiTime in a research note on Thursday, May 7th. UBS Group increased their price target on shares of SiTime from $675.00 to $775.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of SiTime in a research note on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $661.88.

SiTime Price Performance

SITM stock opened at $725.59 on Tuesday. SiTime Corporation has a 1 year low of $186.49 and a 1 year high of $901.81. The company has a market cap of $19.16 billion, a P/E ratio of -718.41 and a beta of 2.91. The firm has a 50-day moving average of $481.25 and a 200 day moving average of $397.40.

SiTime (NASDAQ:SITM) last announced its earnings results on Wednesday, May 6th. The company reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.30. SiTime had a negative net margin of 6.38% and a positive return on equity of 0.53%. The business had revenue of $113.57 million during the quarter, compared to the consensus estimate of $103.51 million. During the same quarter last year, the firm earned $0.26 earnings per share. The business’s revenue for the quarter was up 88.3% on a year-over-year basis. On average, equities research analysts expect that SiTime Corporation will post 3.23 earnings per share for the current fiscal year.

SiTime Profile

SiTime Corporation is a fabless semiconductor company specializing in silicon timing solutions that leverage micro-electromechanical systems (MEMS) technology as an alternative to traditional quartz crystals. Its portfolio of programmable oscillators, resonators, clock generators, jitter attenuators and network synchronizers addresses precision timekeeping requirements across a wide range of electronic systems. By integrating MEMS resonators with advanced mixed-signal control circuitry, SiTime’s products offer enhanced reliability, resistance to shock and vibration, and a smaller footprint compared with conventional quartz devices.

The company’s timing devices serve diverse end markets, including telecommunications infrastructure, data center and enterprise networking, consumer electronics, automotive systems, industrial automation, and aerospace and defense applications.