SiTime Corporation $SITM Shares Sold by Lisanti Capital Growth LLC

Lisanti Capital Growth LLC lowered its holdings in shares of SiTime Corporation (NASDAQ:SITM) by 8.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,414 shares of the company’s stock after selling 1,761 shares during the period. SiTime accounts for 1.4% of Lisanti Capital Growth LLC’s investment portfolio, making the stock its 23rd largest holding. Lisanti Capital Growth LLC owned 0.07% of SiTime worth $5,850,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of SITM. Arizona State Retirement System raised its holdings in shares of SiTime by 17.7% in the third quarter. Arizona State Retirement System now owns 6,445 shares of the company’s stock valued at $1,942,000 after buying an additional 967 shares during the last quarter. New York State Common Retirement Fund increased its position in SiTime by 14.3% in the 3rd quarter. New York State Common Retirement Fund now owns 15,627 shares of the company’s stock valued at $4,709,000 after acquiring an additional 1,954 shares during the period. Ballentine Partners LLC purchased a new stake in SiTime during the 3rd quarter valued at approximately $233,000. Federated Hermes Inc. lifted its position in SiTime by 25.0% during the 3rd quarter. Federated Hermes Inc. now owns 125,000 shares of the company’s stock worth $37,664,000 after acquiring an additional 25,000 shares during the period. Finally, Scalar Gauge Management LLC purchased a new position in shares of SiTime in the 3rd quarter valued at approximately $8,135,000. 84.31% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SITM has been the subject of several recent research reports. Roth Mkm reaffirmed a “buy” rating and set a $350.00 price target on shares of SiTime in a report on Thursday, November 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of SiTime in a research report on Thursday, January 22nd. Stifel Nicolaus raised their price target on SiTime from $360.00 to $400.00 and gave the company a “buy” rating in a report on Friday, January 16th. The Goldman Sachs Group assumed coverage on SiTime in a report on Monday, December 15th. They set a “buy” rating and a $420.00 price objective on the stock. Finally, UBS Group increased their price objective on SiTime from $375.00 to $430.00 and gave the stock a “buy” rating in a research report on Monday. Seven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $367.50.

Insider Transactions at SiTime

In other news, CEO Rajesh Vashist sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $369.20, for a total value of $738,400.00. Following the completion of the transaction, the chief executive officer owned 431,609 shares of the company’s stock, valued at $159,350,042.80. The trade was a 0.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Samsheer Ahamad sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $291.10, for a total transaction of $1,164,400.00. Following the sale, the insider owned 51,711 shares in the company, valued at approximately $15,053,072.10. This trade represents a 7.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 21,500 shares of company stock worth $6,791,710 over the last ninety days. 2.10% of the stock is currently owned by corporate insiders.

SiTime Stock Performance

SiTime stock opened at $363.11 on Friday. SiTime Corporation has a fifty-two week low of $105.40 and a fifty-two week high of $393.80. The company has a market capitalization of $9.48 billion, a price-to-earnings ratio of -122.67 and a beta of 2.49. The stock has a fifty day moving average of $350.54 and a two-hundred day moving average of $289.60.

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