SiTime Corporation $SITM Shares Sold by Lisanti Capital Growth LLC

Lisanti Capital Growth LLC reduced its holdings in SiTime Corporation (NASDAQ:SITM) by 53.8% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,480 shares of the company’s stock after selling 1,725 shares during the period. Lisanti Capital Growth LLC’s holdings in SiTime were worth $965,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the business. BlackRock Inc. bought a new stake in shares of SiTime in the second quarter valued at approximately $1,781,937,000. Bank of New York Mellon Corp bought a new position in SiTime during the second quarter worth $123,264,000. Arrowstreet Capital Limited Partnership raised its stake in SiTime by 865.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 79,178 shares of the company’s stock valued at $27,344,000 after purchasing an additional 70,974 shares during the last quarter. Bamco Inc. NY acquired a new position in SiTime during the 2nd quarter valued at $52,341,000. Finally, TimesSquare Capital Management LLC bought a new stake in SiTime in the 2nd quarter valued at $48,194,000. 84.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other SiTime news, insider Fariborz Assaderaghi sold 1,374 shares of the firm’s stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $701.05, for a total transaction of $963,242.70. Following the completion of the transaction, the insider owned 66,861 shares in the company, valued at $46,872,904.05. This trade represents a 2.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Rajesh Vashist sold 12,000 shares of SiTime stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $603.47, for a total value of $7,241,640.00. Following the sale, the chief executive officer directly owned 345,544 shares in the company, valued at $208,525,437.68. The trade was a 3.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 14,374 shares of company stock valued at $8,949,883 over the last quarter. Corporate insiders own 1.40% of the company’s stock.

SiTime Stock Performance

Shares of NASDAQ SITM opened at $472.56 on Thursday. The firm has a market capitalization of $14.28 billion, a price-to-earnings ratio of 502.72 and a beta of 2.88. SiTime Corporation has a one year low of $243.68 and a one year high of $901.81. The business has a fifty day simple moving average of $556.17 and a 200 day simple moving average of $547.72. The company has a current ratio of 5.56, a quick ratio of 4.62 and a debt-to-equity ratio of 0.38.

SiTime shares are scheduled to split on Monday, December 7th. The 3-1 split was recently announced. The newly created shares will be distributed to shareholders after the closing bell on Sunday, December 6th.

SiTime (NASDAQ:SITM) last posted its quarterly earnings results on Wednesday, November 4th. The company reported $4.01 earnings per share for the quarter, topping analysts’ consensus estimates of $3.62 by $0.39. The firm had revenue of $298.67 million for the quarter, compared to the consensus estimate of $292.65 million. SiTime had a net margin of 3.87% and a return on equity of 9.07%. The business’s revenue was up 257.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.87 earnings per share. Sell-side analysts expect that SiTime Corporation will post 6.37 EPS for the current year.

Wall Street Analyst Weigh In

SITM has been the topic of several research analyst reports. Morgan Stanley assumed coverage on shares of SiTime in a research report on Thursday, September 17th. They issued an “overweight” rating and a $370.00 price target on the stock. UBS Group cut their price objective on shares of SiTime from $750.00 to $650.00 and set a “buy” rating for the company in a research report on Thursday, November 5th. The Goldman Sachs Group reiterated a “buy” rating and issued a $900.00 target price on shares of SiTime in a research note on Thursday, August 6th. Zacks Research downgraded SiTime from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. Finally, Barclays initiated coverage on SiTime in a research report on Friday, November 6th. They set a “buy” rating on the stock. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $687.00.

SiTime Profile

SiTime Corporation develops silicon-based timing solutions using microelectromechanical systems (MEMS) technology. Its products include MEMS resonators, oscillators and clock generators, which provide timing signals used to synchronize electronic systems. The company’s components serve applications across communications, data centers, automotive, industrial, aerospace and defense, and consumer electronics. SiTime sells its products to customers and partners worldwide. Founded in 2005, SiTime became part of Japan’s MegaChips in 2014 and later became a publicly traded company.