Neuberger Berman Group LLC Buys 105,868 Shares of SiTime Corporation (NASDAQ:SITM)

Neuberger Berman Group LLC raised its stake in shares of SiTime Corporation (NASDAQ:SITM) by 360.8% during the 1st quarter, Holdings Channel.com reports. The fund owned 135,211 shares of the company’s stock after acquiring an additional 105,868 shares during the period. Neuberger Berman Group LLC’s holdings in SiTime were worth $20,670,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Fourth Dimension Wealth LLC bought a new stake in SiTime in the 4th quarter valued at about $25,000. Opal Wealth Advisors LLC purchased a new position in shares of SiTime during the first quarter worth about $32,000. CWM LLC grew its holdings 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 purchasing an additional 185 shares in the last quarter. Lazard Asset Management LLC purchased a new position in shares of SiTime during the fourth quarter worth about $81,000. Finally, Aquatic Capital Management LLC bought a new stake in SiTime in the 4th quarter worth approximately $192,000. 84.31% of the stock is currently owned by institutional investors.

Insider Activity

In other SiTime news, Director Tom Dang-Hsing Yiu sold 2,115 shares of the company’s stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $200.00, for a total value of $423,000.00. Following the completion of the sale, the director directly owned 18,500 shares in the company, valued at approximately $3,700,000. This represents a 10.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Samsheer Ahamad sold 7,728 shares of the business’s stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $207.41, for a total value of $1,602,864.48. Following the completion of the transaction, the insider directly owned 78,095 shares of the company’s stock, valued at approximately $16,197,683.95. The trade was a 9.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 66,783 shares of company stock worth $13,921,517. Company insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

SITM has been the subject of a number of analyst reports. Stifel Nicolaus increased their price objective on SiTime from $210.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, July 18th. Barclays increased their price objective on SiTime from $180.00 to $220.00 and gave the stock an “underweight” rating in a report on Thursday, August 7th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. Based on data from MarketBeat.com, SiTime currently has an average rating of “Moderate Buy” and a consensus price target of $236.00.

SiTime Stock Up 0.7%

SITM stock opened at $218.24 on Thursday. SiTime Corporation has a twelve month low of $105.40 and a twelve month high of $268.18. The stock has a market cap of $5.67 billion, a P/E ratio of -62.71 and a beta of 2.20. The business’s 50-day moving average price is $208.90 and its 200-day moving average price is $183.77.

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, topping analysts’ consensus estimates of $0.29 by $0.18. SiTime had a negative return on equity of 7.54% and a negative net margin of 32.15%. The business had revenue of $69.49 million for the quarter, compared to the consensus estimate of $64.66 million. During the same quarter in the previous year, the company posted $0.12 EPS. The company’s revenue was up 58.3% compared to the same quarter last year. On average, equities research analysts expect that SiTime Corporation will post -2.44 earnings per share for the current fiscal year.

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.