SiTime Corporation $SITM Shares Sold by Forge First Asset Management Inc.

Forge First Asset Management Inc. cut its holdings in shares of SiTime Corporation (NASDAQ:SITM) by 57.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,670 shares of the company’s stock after selling 16,030 shares during the period. Forge First Asset Management Inc.’s holdings in SiTime were worth $2,489,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Game Plan Financial Advisors LLC purchased a new stake in SiTime during the 2nd quarter worth about $25,000. Advisors Asset Management Inc. grew 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 in the last quarter. CWM LLC increased 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 period. Nisa Investment Advisors LLC increased its stake in shares of SiTime by 183.0% during the second quarter. Nisa Investment Advisors LLC now owns 600 shares of the company’s stock worth $128,000 after buying an additional 388 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in SiTime in the second quarter valued at approximately $196,000. Institutional investors and hedge funds own 84.31% of the company’s stock.

SiTime Stock Performance

Shares of NASDAQ:SITM opened at $255.49 on Wednesday. SiTime Corporation has a one year low of $105.40 and a one year high of $386.00. The stock has a market capitalization of $6.67 billion, a price-to-earnings ratio of -86.31 and a beta of 2.36. The company has a 50-day simple moving average of $290.08 and a 200-day simple moving average of $238.70.

SiTime (NASDAQ:SITM) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.71 by $0.16. SiTime had a negative return on equity of 5.69% and a negative net margin of 25.18%.The business had revenue of $83.57 million during the quarter, compared to analysts’ expectations of $78.08 million. During the same quarter in the prior year, the business earned $0.40 earnings per share. The company’s quarterly revenue was up 44.8% compared to the same quarter last year. As a group, research analysts forecast that SiTime Corporation will post -2.44 EPS for the current fiscal year.

Insider Activity at SiTime

In related news, EVP Elizabeth A. Howe sold 5,099 shares of the company’s stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $319.00, for a total value of $1,626,581.00. Following the sale, the executive vice president owned 59,070 shares of the company’s stock, valued at approximately $18,843,330. This represents a 7.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Samsheer Ahamad sold 3,811 shares of the company’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $255.03, for a total value of $971,919.33. Following the completion of the sale, the insider owned 58,077 shares in the company, valued at $14,811,377.31. This represents a 6.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 44,867 shares of company stock valued at $12,458,213 in the last 90 days. 2.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on SITM. Barclays increased their price objective on shares of SiTime from $220.00 to $260.00 and gave the company an “underweight” rating in a research report on Thursday, November 6th. Needham & Company LLC raised their price target on SiTime from $250.00 to $360.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. Roth Capital reaffirmed a “buy” rating and set a $350.00 price target on shares of SiTime in a report on Thursday, November 6th. Stifel Nicolaus set a $360.00 price objective on SiTime in a report on Thursday, November 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of SiTime in a research note on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, SiTime presently has a consensus rating of “Hold” and a consensus price target of $329.17.

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.