Oak Ridge Investments LLC Sells 4,815 Shares of SiTime Corporation (NASDAQ:SITM)

Oak Ridge Investments LLC reduced its stake in SiTime Corporation (NASDAQ:SITM) by 27.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,031 shares of the company’s stock after selling 4,815 shares during the period. Oak Ridge Investments LLC’s holdings in SiTime were worth $1,992,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of SITM. Fourth Dimension Wealth LLC bought a new position in SiTime in the fourth quarter worth about $25,000. Opal Wealth Advisors LLC bought a new position in SiTime in the first quarter worth about $32,000. CWM LLC raised its stake in SiTime by 69.0% in the first quarter. CWM LLC now owns 453 shares of the company’s stock worth $69,000 after buying an additional 185 shares in the last quarter. Lazard Asset Management LLC bought a new position in SiTime in the fourth quarter worth about $81,000. Finally, Aquatic Capital Management LLC bought a new position in SiTime in the fourth quarter worth about $192,000. 84.31% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on SITM shares. Barclays increased their price target on shares of SiTime from $180.00 to $220.00 and gave the stock an “underweight” rating in a research note on Thursday, August 7th. Stifel Nicolaus raised their target price on shares of SiTime from $210.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, July 18th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $236.00.

Insider Activity at SiTime

In related news, insider Fariborz Assaderaghi sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $201.36, for a total transaction of $201,360.00. Following the completion of the sale, the insider owned 101,319 shares of the company’s stock, valued at $20,401,593.84. This trade represents a 0.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Samsheer Ahamad sold 4,000 shares of SiTime stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $200.00, for a total transaction of $800,000.00. Following the completion of the sale, the insider directly owned 72,021 shares of the company’s stock, valued at approximately $14,404,200. This trade represents a 5.26% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,783 shares of company stock valued at $13,921,517 over the last ninety days. Corporate insiders own 2.10% of the company’s stock.

SiTime Stock Up 0.7%

Shares of SITM opened at $218.24 on Thursday. The company has a market capitalization of $5.67 billion, a P/E ratio of -62.71 and a beta of 2.20. The firm has a 50 day moving average of $208.90 and a 200 day moving average of $183.77. SiTime Corporation has a twelve month low of $105.40 and a twelve month high of $268.18.

SiTime (NASDAQ:SITM) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.18. The company had revenue of $69.49 million during the quarter, compared to the consensus estimate of $64.66 million. SiTime had a negative net margin of 32.15% and a negative return on equity of 7.54%. The firm’s quarterly revenue was up 58.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.12 earnings per share. On average, sell-side analysts expect that SiTime Corporation will post -2.44 EPS for the current year.

About SiTime

SiTime Corporation designs, develops, and sells silicon timing systems solutions in Taiwan, Hong Kong, the United States, Singapore, and internationally. The company provides resonators and clock integrated circuits, and various types of oscillators. It serves various markets, including communications, datacenter, enterprise, automotive, industrial, internet of things, mobile, consumer, and aerospace and defense.