Yousif Capital Management LLC Has $1.54 Million Stock Position in SiTime Corporation $SITM

Yousif Capital Management LLC raised its holdings in SiTime Corporation (NASDAQ:SITM) by 3.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 7,238 shares of the company’s stock after acquiring an additional 246 shares during the quarter. Yousif Capital Management LLC’s holdings in SiTime were worth $1,542,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Game Plan Financial Advisors LLC acquired a new position in SiTime in the 2nd quarter valued at approximately $25,000. Advisors Asset Management Inc. increased its position in shares of SiTime by 33.6% during the first quarter. Advisors Asset Management Inc. now owns 350 shares of the company’s stock worth $54,000 after buying an additional 88 shares during the period. CWM LLC increased its position in shares of SiTime by 69.0% during the first quarter. CWM LLC now owns 453 shares of the company’s stock worth $69,000 after buying an additional 185 shares during the period. Toth Financial Advisory Corp acquired a new stake in shares of SiTime during the second quarter worth $298,000. Finally, Xponance Inc. increased its position in shares of SiTime by 7.2% during the first quarter. Xponance Inc. now owns 1,419 shares of the company’s stock worth $217,000 after buying an additional 95 shares during the period. 84.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at SiTime

In other SiTime news, CEO Rajesh Vashist sold 2,000 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $232.00, for a total value of $464,000.00. Following the transaction, the chief executive officer directly owned 463,208 shares of the company’s stock, valued at approximately $107,464,256. This trade represents a 0.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Samsheer Ahamad sold 6,000 shares of the firm’s stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $250.00, for a total transaction of $1,500,000.00. Following the completion of the transaction, the insider directly owned 61,888 shares in the company, valued at $15,472,000. This trade represents a 8.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 36,367 shares of company stock valued at $9,330,713. Corporate insiders own 2.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SITM. Stifel Nicolaus increased their price objective on shares of SiTime from $230.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday, September 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of SiTime in a research report on Wednesday, October 8th. Raymond James Financial reiterated an “outperform” rating and set a $270.00 price objective (up from $250.00) on shares of SiTime in a research report on Friday, August 29th. UBS Group increased their price objective on shares of SiTime from $260.00 to $355.00 and gave the stock a “buy” rating in a research report on Monday, October 6th. Finally, Barclays increased their price objective on shares of SiTime from $180.00 to $220.00 and gave the stock an “underweight” rating in a research report on Thursday, August 7th. Five investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $274.17.

SiTime Trading Down 5.5%

NASDAQ:SITM opened at $272.67 on Monday. The stock has a market capitalization of $7.09 billion, a price-to-earnings ratio of -78.35 and a beta of 2.35. The firm has a fifty day simple moving average of $264.99 and a two-hundred day simple moving average of $214.89. SiTime Corporation has a 12 month low of $105.40 and a 12 month high of $323.66.

SiTime (NASDAQ:SITM) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.18. SiTime had a negative net margin of 32.15% and a negative return on equity of 7.54%. The firm had revenue of $69.49 million for the quarter, compared to analyst estimates of $64.66 million. During the same period last year, the firm earned $0.12 earnings per share. The business’s quarterly revenue was up 58.3% compared to the same quarter last year. Equities analysts predict that SiTime Corporation will post -2.44 earnings per share for the current fiscal year.

SiTime Profile

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.