Y Intercept Hong Kong Ltd acquired a new stake in shares of SiTime Corporation (NASDAQ:SITM – Free Report) in the first quarter, HoldingsChannel reports. The institutional investor acquired 5,070 shares of the company’s stock, valued at approximately $1,751,000.
Other large investors have also added to or reduced their stakes in the company. Pictet Asset Management Holding SA grew its position in SiTime by 7.7% during the 1st quarter. Pictet Asset Management Holding SA now owns 3,506 shares of the company’s stock valued at $1,211,000 after purchasing an additional 250 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC purchased a new position in shares of SiTime during the first quarter valued at approximately $292,000. Louisiana State Employees Retirement System bought a new position in SiTime during the first quarter valued at approximately $2,210,000. Atlas Brown Inc. lifted its position in SiTime by 2.2% during the first quarter. Atlas Brown Inc. now owns 2,342 shares of the company’s stock valued at $809,000 after purchasing an additional 50 shares during the period. Finally, Diversified Trust Co purchased a new stake in SiTime in the first quarter worth approximately $327,000. Hedge funds and other institutional investors own 84.31% of the company’s stock.
SiTime Stock Performance
SITM stock opened at $648.15 on Friday. SiTime Corporation has a one year low of $186.49 and a one year high of $901.81. The company’s fifty day moving average price is $701.13 and its 200-day moving average price is $498.00. The company has a market capitalization of $17.11 billion, a PE ratio of -641.73 and a beta of 2.91.
Analyst Ratings Changes
A number of brokerages have weighed in on SITM. Weiss Ratings reiterated a “sell (d-)” rating on shares of SiTime in a research note on Tuesday, April 21st. Zacks Research downgraded SiTime from a “strong-buy” rating to a “hold” rating in a research note on Monday. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $800.00 price objective on shares of SiTime in a report on Thursday, May 7th. Roth Capital reiterated a “buy” rating and set a $900.00 price objective on shares of SiTime in a research report on Thursday, May 7th. Finally, Wall Street Zen downgraded SiTime from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Eight research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $661.88.
View Our Latest Report on SITM
Insider Activity
In other news, Director Akira Takata sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $860.86, for a total transaction of $1,291,290.00. Following the transaction, the director owned 12,234 shares of the company’s stock, valued at approximately $10,531,761.24. This represents a 10.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Piyush B. Sevalia sold 2,419 shares of the company’s stock in a transaction on Friday, April 17th. The shares were sold at an average price of $484.05, for a total value of $1,170,916.95. Following the completion of the transaction, the insider directly owned 84,250 shares in the company, valued at $40,781,212.50. This trade represents a 2.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 72,128 shares of company stock worth $51,401,463. Company insiders own 1.40% of the company’s stock.
About SiTime
SiTime Corporation is a fabless semiconductor company specializing in silicon timing solutions that leverage micro-electromechanical systems (MEMS) technology as an alternative to traditional quartz crystals. Its portfolio of programmable oscillators, resonators, clock generators, jitter attenuators and network synchronizers addresses precision timekeeping requirements across a wide range of electronic systems. By integrating MEMS resonators with advanced mixed-signal control circuitry, SiTime’s products offer enhanced reliability, resistance to shock and vibration, and a smaller footprint compared with conventional quartz devices.
The company’s timing devices serve diverse end markets, including telecommunications infrastructure, data center and enterprise networking, consumer electronics, automotive systems, industrial automation, and aerospace and defense applications.
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