Montanaro Asset Management Ltd Sells 659 Shares of SiTime Corporation $SITM

Montanaro Asset Management Ltd reduced its stake in shares of SiTime Corporation (NASDAQ:SITM) by 1.4% in the second quarter, according to its most recent filing with the SEC. The fund owned 45,000 shares of the company’s stock after selling 659 shares during the period. SiTime makes up 2.5% of Montanaro Asset Management Ltd’s investment portfolio, making the stock its 20th biggest position. Montanaro Asset Management Ltd’s holdings in SiTime were worth $9,589,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Peregrine Investment Management Inc. lifted its holdings in shares of SiTime by 28.4% during the 2nd quarter. Peregrine Investment Management Inc. now owns 67,870 shares of the company’s stock worth $14,462,000 after acquiring an additional 15,000 shares during the last quarter. Fred Alger Management LLC lifted its stake in SiTime by 45.5% in the first quarter. Fred Alger Management LLC now owns 128,525 shares of the company’s stock worth $19,648,000 after purchasing an additional 40,220 shares during the last quarter. Toth Financial Advisory Corp bought a new stake in SiTime in the second quarter worth $298,000. Verdence Capital Advisors LLC bought a new stake in SiTime in the second quarter worth $230,000. Finally, William Blair Investment Management LLC lifted its stake in SiTime by 4.1% in the second quarter. William Blair Investment Management LLC now owns 112,789 shares of the company’s stock worth $24,033,000 after purchasing an additional 4,469 shares during the last quarter. 84.31% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SITM has been the subject of several recent research reports. Stifel Nicolaus boosted their price target on shares of SiTime from $230.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday, September 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of SiTime in a research note on Wednesday, October 8th. Barclays boosted 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. UBS Group boosted their price target on shares of SiTime from $260.00 to $355.00 and gave the stock a “buy” rating in a research note on Monday, October 6th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $270.00 price target (up from $250.00) on shares of SiTime in a research note on Friday, August 29th. Five analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, SiTime has an average rating of “Hold” and an average target price of $274.17.

SiTime Trading Up 4.5%

SITM stock opened at $289.64 on Monday. The firm’s 50-day moving average price is $276.36 and its two-hundred day moving average price is $225.85. SiTime Corporation has a 12-month low of $105.40 and a 12-month high of $323.66. The stock has a market capitalization of $7.53 billion, a price-to-earnings ratio of -83.23 and a beta of 2.36.

SiTime (NASDAQ:SITM) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.47 earnings per share (EPS) 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 analysts’ expectations of $64.66 million. During the same quarter in the previous year, the company earned $0.12 earnings per share. The company’s revenue for the quarter was up 58.3% compared to the same quarter last year. Equities analysts predict that SiTime Corporation will post -2.44 EPS for the current year.

Insider Activity at SiTime

In related news, EVP Elizabeth A. Howe sold 5,099 shares of the business’s stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $319.00, for a total transaction of $1,626,581.00. Following the transaction, the executive vice president owned 59,070 shares in the company, valued at $18,843,330. The trade was a 7.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Samsheer Ahamad sold 6,000 shares of the business’s stock in a transaction dated 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 transaction, the insider owned 61,888 shares in the company, valued at $15,472,000. This represents a 8.84% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 36,367 shares of company stock valued at $9,330,713 over the last three months. Corporate insiders own 2.30% of the company’s stock.

SiTime Company 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.