Lisanti Capital Growth LLC Acquires 3,440 Shares of SiTime Corporation $SITM

Lisanti Capital Growth LLC increased its holdings in SiTime Corporation (NASDAQ:SITM) by 17.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 22,854 shares of the company’s stock after acquiring an additional 3,440 shares during the quarter. SiTime makes up 1.9% of Lisanti Capital Growth LLC’s portfolio, making the stock its 5th biggest position. Lisanti Capital Growth LLC’s holdings in SiTime were worth $8,072,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Optiver Holding B.V. lifted its stake in shares of SiTime by 56.1% in the third quarter. Optiver Holding B.V. now owns 89 shares of the company’s stock worth $27,000 after acquiring an additional 32 shares in the last quarter. Atlas Brown Inc. lifted its stake in shares of SiTime by 1.6% in the fourth quarter. Atlas Brown Inc. now owns 2,292 shares of the company’s stock worth $810,000 after acquiring an additional 37 shares in the last quarter. CWM LLC lifted its stake in shares of SiTime by 4.2% in the fourth quarter. CWM LLC now owns 951 shares of the company’s stock worth $336,000 after acquiring an additional 38 shares in the last quarter. Verdence Capital Advisors LLC lifted its stake in shares of SiTime by 3.7% in the third quarter. Verdence Capital Advisors LLC now owns 1,118 shares of the company’s stock worth $309,000 after acquiring an additional 40 shares in the last quarter. Finally, Bessemer Group Inc. lifted its stake in shares of SiTime by 27.4% in the third quarter. Bessemer Group Inc. now owns 186 shares of the company’s stock worth $55,000 after acquiring an additional 40 shares in the last quarter. Institutional investors and hedge funds own 84.31% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on SITM shares. Barclays upgraded SiTime from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $400.00 to $850.00 in a research note on Thursday, May 7th. The Goldman Sachs Group reiterated a “buy” rating and issued a $800.00 price target on shares of SiTime in a research note on Thursday, May 7th. UBS Group boosted their price target on SiTime from $675.00 to $775.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Wall Street Zen upgraded SiTime from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Finally, Zacks Research upgraded SiTime from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $661.88.

Insider Activity

In other SiTime news, Director Torsten Kreindl sold 710 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $720.00, for a total transaction of $511,200.00. Following the sale, the director owned 13,141 shares in the company, valued at $9,461,520. This represents a 5.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Piyush B. Sevalia sold 2,419 shares of the company’s stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $484.05, for a total value of $1,170,916.95. Following the sale, the insider owned 84,250 shares in the company, valued at $40,781,212.50. The trade was a 2.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 12,610 shares of company stock valued at $6,210,444 over the last three months. Company insiders own 1.40% of the company’s stock.

SiTime Stock Up 2.4%

Shares of NASDAQ SITM opened at $728.56 on Friday. The stock’s 50 day moving average price is $510.07 and its two-hundred day moving average price is $408.52. SiTime Corporation has a 52-week low of $186.49 and a 52-week high of $901.81. The stock has a market capitalization of $19.23 billion, a P/E ratio of -721.35 and a beta of 2.91.

SiTime (NASDAQ:SITM) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.30. SiTime had a positive return on equity of 0.53% and a negative net margin of 6.38%.The firm had revenue of $113.57 million for the quarter, compared to analysts’ expectations of $103.51 million. During the same quarter in the prior year, the firm posted $0.26 earnings per share. SiTime’s revenue for the quarter was up 88.3% compared to the same quarter last year. On average, analysts anticipate that SiTime Corporation will post 3.23 EPS for the current 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.