Lisanti Capital Growth LLC Buys 9,355 Shares of SiTime Corporation $SITM

Lisanti Capital Growth LLC grew its holdings in SiTime Corporation (NASDAQ:SITM) by 79.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 21,175 shares of the company’s stock after acquiring an additional 9,355 shares during the quarter. Lisanti Capital Growth LLC owned 0.09% of SiTime worth $4,512,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SITM. Game Plan Financial Advisors LLC acquired a new position in SiTime in the second quarter valued at about $25,000. Advisors Asset Management Inc. grew its holdings in shares of SiTime by 33.6% during the 1st quarter. Advisors Asset Management Inc. now owns 350 shares of the company’s stock valued at $54,000 after purchasing an additional 88 shares during the last quarter. CWM LLC grew its stake 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 last quarter. Nisa Investment Advisors LLC increased its position in SiTime by 183.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 600 shares of the company’s stock valued at $128,000 after acquiring an additional 388 shares during the period. Finally, Praxis Investment Management Inc. acquired a new position in shares of SiTime in the second quarter worth approximately $202,000. 84.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at SiTime

In other SiTime news, EVP Elizabeth A. Howe sold 5,099 shares of the company’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 approximately $18,843,330. This represents a 7.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Piyush B. Sevalia sold 2,056 shares of the business’s stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $251.50, for a total transaction of $517,084.00. Following the sale, the insider owned 78,757 shares of the company’s stock, valued at $19,807,385.50. This trade represents a 2.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 34,867 shares of company stock valued at $9,168,213 over the last three months. 2.10% of the stock is owned by insiders.

SiTime Stock Down 3.8%

Shares of SITM opened at $326.94 on Friday. SiTime Corporation has a 52 week low of $105.40 and a 52 week high of $386.00. The stock has a market cap of $8.50 billion, a P/E ratio of -110.45 and a beta of 2.36. The business’s 50 day moving average price is $282.61 and its 200-day moving average price is $231.24.

SiTime (NASDAQ:SITM) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.16. SiTime had a negative net margin of 25.18% and a negative return on equity of 5.69%. The company had revenue of $83.57 million during the quarter, compared to the consensus estimate of $78.08 million. During the same quarter last year, the firm earned $0.40 earnings per share. The firm’s quarterly revenue was up 44.8% compared to the same quarter last year. On average, equities analysts anticipate that SiTime Corporation will post -2.44 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SiTime in a research report on Wednesday, October 8th. Raymond James Financial reissued an “outperform” rating and set a $270.00 target price (up previously from $250.00) on shares of SiTime in a research report on Friday, August 29th. Roth Capital reissued a “buy” rating and set a $350.00 target price on shares of SiTime in a research report on Thursday. Stifel Nicolaus set a $360.00 price target on shares of SiTime in a research report on Thursday. Finally, Needham & Company LLC upped their target price on SiTime from $250.00 to $360.00 and gave the stock a “buy” rating in a research note on Thursday. Five investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $329.17.

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.