Pinnacle Wealth Management Advisory Group LLC Buys Shares of 845 SiTime Corporation $SITM

Pinnacle Wealth Management Advisory Group LLC purchased a new position in shares of SiTime Corporation (NASDAQ:SITM) in the first quarter, Holdings Channel reports. The fund purchased 845 shares of the company’s stock, valued at approximately $292,000.

Several other institutional investors and hedge funds also recently modified their holdings of SITM. Principal Financial Group Inc. raised its stake in shares of SiTime by 3.9% during the fourth quarter. Principal Financial Group Inc. now owns 363,953 shares of the company’s stock valued at $128,545,000 after purchasing an additional 13,577 shares in the last quarter. Teachers Retirement System of The State of Kentucky grew its position in SiTime by 145.9% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 12,215 shares of the company’s stock valued at $3,681,000 after buying an additional 7,247 shares in the last quarter. Royce & Associates LP grew its position in SiTime by 95.0% in the 3rd quarter. Royce & Associates LP now owns 54,476 shares of the company’s stock valued at $16,414,000 after buying an additional 26,538 shares in the last quarter. Portolan Capital Management LLC acquired a new position in SiTime during the 3rd quarter valued at about $4,671,000. Finally, Berkshire Capital Holdings Inc. acquired a new position in SiTime during the 4th quarter valued at about $2,889,000. Institutional investors own 84.31% of the company’s stock.

Analyst Ratings Changes

SITM has been the subject of a number of research analyst reports. Wall Street Zen lowered shares of SiTime from a “buy” rating to a “hold” rating in a research note on Saturday. Zacks Research raised SiTime from a “hold” rating to a “strong-buy” rating in a report on Friday, May 15th. UBS Group boosted their target price on SiTime from $675.00 to $775.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Roth Mkm reaffirmed a “buy” rating and set a $900.00 price target on shares of SiTime in a research note on Thursday, May 7th. Finally, Needham & Company LLC lifted their price target on SiTime from $450.00 to $850.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, SiTime has an average rating of “Moderate Buy” and an average target price of $661.88.

Insider Transactions at SiTime

In other news, Director Akira Takata sold 1,500 shares of the stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $860.86, for a total transaction of $1,291,290.00. Following the completion of the sale, the director owned 12,234 shares in the company, valued at approximately $10,531,761.24. This represents a 10.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Piyush B. Sevalia sold 2,419 shares of the firm’s stock in a transaction on Friday, April 17th. The stock was sold at an average price of $484.05, for a total value of $1,170,916.95. Following the sale, the insider directly owned 84,250 shares of the company’s stock, valued at approximately $40,781,212.50. This represents a 2.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 73,375 shares of company stock valued at $51,931,438 in the last 90 days. 1.40% of the stock is owned by corporate insiders.

SiTime Stock Performance

NASDAQ:SITM opened at $672.19 on Monday. SiTime Corporation has a twelve month low of $186.49 and a twelve month high of $901.81. The company has a 50-day moving average of $679.31 and a 200-day moving average of $480.16. The firm has a market cap of $17.75 billion, a price-to-earnings ratio of -665.53 and a beta of 2.94.

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, topping the consensus estimate of $1.14 by $0.30. SiTime had a negative net margin of 6.38% and a positive return on equity of 0.53%. The company had revenue of $113.57 million for the quarter, compared to analysts’ expectations of $103.51 million. During the same quarter in the previous year, the company posted $0.26 EPS. The business’s revenue was up 88.3% compared to the same quarter last year. On average, research analysts forecast that SiTime Corporation will post 3.23 earnings per share for the current year.

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.