Diversified Trust Co Purchases New Holdings in SiTime Corporation $SITM

Diversified Trust Co purchased a new position in shares of SiTime Corporation (NASDAQ:SITM) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 948 shares of the company’s stock, valued at approximately $327,000.

Other institutional investors have also recently bought and sold shares of the company. Rakuten Securities Inc. increased its position in shares of SiTime by 188.5% during the 4th quarter. Rakuten Securities Inc. now owns 75 shares of the company’s stock valued at $26,000 after purchasing an additional 49 shares during the last quarter. Optiver Holding B.V. boosted its stake in SiTime by 56.1% in the third quarter. Optiver Holding B.V. now owns 89 shares of the company’s stock valued at $27,000 after acquiring an additional 32 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in SiTime in the fourth quarter valued at about $33,000. Larson Financial Group LLC grew its position in shares of SiTime by 3,200.0% during the 3rd quarter. Larson Financial Group LLC now owns 99 shares of the company’s stock valued at $30,000 after acquiring an additional 96 shares during the period. Finally, Danske Bank A S bought a new position in shares of SiTime during the 4th quarter valued at approximately $35,000. Institutional investors own 84.31% of the company’s stock.

Insider Buying and Selling

In other SiTime news, insider Fariborz Assaderaghi sold 1,000 shares of the business’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $702.90, for a total value of $702,900.00. Following the completion of the sale, the insider directly owned 78,936 shares of the company’s stock, valued at $55,484,114.40. The trade was a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Rajesh Vashist sold 15,000 shares of the business’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $750.20, for a total transaction of $11,253,000.00. Following the completion of the sale, the chief executive officer directly owned 387,898 shares of the company’s stock, valued at $291,001,079.60. This represents a 3.72% decrease in their ownership of the stock. 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 73,375 shares of company stock worth $51,931,438 in the last ninety days. 1.40% of the stock is currently owned by insiders.

SiTime Trading Down 0.5%

Shares of SiTime stock opened at $672.19 on Friday. The firm has a market capitalization of $17.75 billion, a PE ratio of -665.53 and a beta of 2.94. The business’s 50-day moving average price is $679.31 and its 200-day moving average price is $479.34. SiTime Corporation has a 12 month low of $186.49 and a 12 month high of $901.81.

SiTime (NASDAQ:SITM) last issued its earnings results on Wednesday, May 6th. The company reported $1.44 earnings per share (EPS) for the quarter, topping 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 business had revenue of $113.57 million during the quarter, compared to analyst estimates of $103.51 million. During the same quarter in the prior year, the firm earned $0.26 earnings per share. SiTime’s revenue for the quarter was up 88.3% on a year-over-year basis. As a group, analysts predict that SiTime Corporation will post 3.23 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SITM has been the topic of several research analyst reports. Zacks Research upgraded SiTime from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 15th. Stifel Nicolaus boosted their target price on SiTime from $450.00 to $500.00 and gave the company a “buy” rating in a research note on Thursday, April 16th. UBS Group upped their price target on SiTime from $675.00 to $775.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Roth Mkm reiterated a “buy” rating and set a $900.00 price target on shares of SiTime in a research note on Thursday, May 7th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $800.00 price objective on shares of SiTime in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $661.88.

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.