Ellevest Inc. Trims Position in SiTime Corporation $SITM

Ellevest Inc. lessened its stake in shares of SiTime Corporation (NASDAQ:SITM) by 27.1% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,415 shares of the company’s stock after selling 1,267 shares during the quarter. Ellevest Inc.’s holdings in SiTime were worth $728,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Game Plan Financial Advisors LLC purchased a new position in SiTime during the 2nd quarter valued at about $25,000. Advisors Asset Management Inc. grew its holdings 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 buying an additional 88 shares in the last quarter. CWM LLC grew its holdings in SiTime by 69.0% during the 1st quarter. CWM LLC now owns 453 shares of the company’s stock valued at $69,000 after buying an additional 185 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in SiTime by 183.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 600 shares of the company’s stock valued at $128,000 after buying an additional 388 shares in the last quarter. Finally, Praxis Investment Management Inc. purchased a new position in SiTime during the 2nd quarter valued at about $202,000. Hedge funds and other institutional investors own 84.31% of the company’s stock.

SiTime Price Performance

NASDAQ:SITM opened at $279.07 on Thursday. The business has a 50 day moving average of $278.97 and a 200 day moving average of $228.38. The company has a market capitalization of $7.26 billion, a price-to-earnings ratio of -80.19 and a beta of 2.36. SiTime Corporation has a 1-year low of $105.40 and a 1-year high of $323.66.

SiTime (NASDAQ:SITM) last released its 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. The company had revenue of $83.57 million during the quarter, compared to the consensus estimate of $78.08 million. SiTime had a negative return on equity of 7.54% and a negative net margin of 32.15%.SiTime’s quarterly revenue was up 44.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.40 EPS. As a group, sell-side analysts anticipate that SiTime Corporation will post -2.44 EPS for the current year.

Insider Buying and Selling

In related news, insider Samsheer Ahamad sold 3,811 shares of the business’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $255.03, for a total value of $971,919.33. Following the completion of the sale, the insider owned 58,077 shares in the company, valued at $14,811,377.31. The trade was a 6.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Fariborz Assaderaghi sold 3,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider owned 90,433 shares of the company’s stock, valued at $20,957,847.75. The trade was a 3.21% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 34,867 shares of company stock worth $9,168,213 over the last ninety days. Corporate insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

SITM has been the subject of several recent analyst reports. UBS Group boosted 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. Stifel Nicolaus boosted 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. Weiss Ratings reissued a “sell (d-)” rating on shares of SiTime in a report on Wednesday, October 8th. Raymond James Financial reissued an “outperform” rating and set a $270.00 price objective (up previously from $250.00) on shares of SiTime in a report on Friday, August 29th. Finally, Barclays boosted 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. Five research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $274.17.

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.