QP Wealth Management LLC Makes New Investment in SiTime Corporation $SITM

QP Wealth Management LLC bought a new stake in shares of SiTime Corporation (NASDAQ:SITM) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,037 shares of the company’s stock, valued at approximately $719,000.

Other large investors also recently modified their holdings of the company. Optiver Holding B.V. increased its holdings in SiTime by 56.1% during the 3rd quarter. Optiver Holding B.V. now owns 89 shares of the company’s stock worth $27,000 after acquiring an additional 32 shares during the period. Verdence Capital Advisors LLC boosted its holdings in SiTime by 3.7% in the 3rd quarter. Verdence Capital Advisors LLC now owns 1,118 shares of the company’s stock valued at $309,000 after purchasing an additional 40 shares during the period. Bessemer Group Inc. grew its position in shares of SiTime by 27.4% during the 3rd quarter. Bessemer Group Inc. now owns 186 shares of the company’s stock valued at $55,000 after purchasing an additional 40 shares in the last quarter. Smartleaf Asset Management LLC grew its position in shares of SiTime by 10.9% during the 3rd quarter. Smartleaf Asset Management LLC now owns 427 shares of the company’s stock valued at $125,000 after purchasing an additional 42 shares in the last quarter. Finally, Lazard Asset Management LLC increased its holdings in shares of SiTime by 7.7% in the second quarter. Lazard Asset Management LLC now owns 654 shares of the company’s stock worth $139,000 after purchasing an additional 47 shares during the period. 84.31% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Raymond James Financial reiterated an “outperform” rating on shares of SiTime in a research report on Tuesday, December 2nd. The Goldman Sachs Group started coverage on SiTime in a research note on Monday, December 15th. They issued a “buy” rating and a $420.00 target price on the stock. Wall Street Zen cut SiTime from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. Loop Capital initiated coverage on SiTime in a research report on Friday, November 21st. They set a “buy” rating and a $350.00 price target for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of SiTime in a report on Thursday, January 22nd. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, SiTime currently has a consensus rating of “Moderate Buy” and a consensus price target of $409.38.

SiTime Trading Down 8.7%

Shares of NASDAQ SITM opened at $325.32 on Friday. The stock’s 50-day moving average is $375.92 and its 200 day moving average is $330.92. The stock has a market cap of $8.56 billion, a price-to-earnings ratio of -178.75 and a beta of 2.53. SiTime Corporation has a 1-year low of $105.40 and a 1-year high of $446.95.

SiTime (NASDAQ:SITM) last issued its earnings results on Wednesday, February 4th. The company reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.33. SiTime had a negative return on equity of 2.06% and a negative net margin of 13.13%.The business had revenue of $113.29 million during the quarter, compared to analyst estimates of $101.91 million. During the same quarter in the prior year, the firm earned $0.48 earnings per share. SiTime’s revenue for the quarter was up 66.3% on a year-over-year basis. On average, analysts forecast that SiTime Corporation will post -2.44 EPS for the current fiscal year.

Insider Transactions at SiTime

In other news, insider Samsheer Ahamad sold 9,100 shares of the company’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $441.47, for a total value of $4,017,377.00. Following the completion of the sale, the insider owned 52,938 shares of the company’s stock, valued at approximately $23,370,538.86. This represents a 14.67% decrease in their position. 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 SiTime stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $406.45, for a total transaction of $2,025,746.80. Following the completion of the transaction, the insider owned 89,194 shares in the company, valued at approximately $36,252,901.30. The trade was a 5.29% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 23,263 shares of company stock worth $9,851,457. Corporate insiders own 2.10% of the company’s stock.

About SiTime

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.