Toth Financial Advisory Corp Takes Position in SiTime Corporation $SITM

Toth Financial Advisory Corp purchased a new stake in shares of SiTime Corporation (NASDAQ:SITM) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,400 shares of the company’s stock, valued at approximately $298,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Fred Alger Management LLC grew its holdings in shares of SiTime by 45.5% during the 1st quarter. Fred Alger Management LLC now owns 128,525 shares of the company’s stock valued at $19,648,000 after acquiring an additional 40,220 shares in the last quarter. GAMMA Investing LLC boosted its holdings in SiTime by 80.9% in the first quarter. GAMMA Investing LLC now owns 1,708 shares of the company’s stock worth $261,000 after purchasing an additional 764 shares in the last quarter. Rhumbline Advisers boosted its holdings in SiTime by 0.9% in the first quarter. Rhumbline Advisers now owns 51,143 shares of the company’s stock worth $7,818,000 after purchasing an additional 440 shares in the last quarter. Millennium Management LLC boosted its holdings in SiTime by 205.0% in the fourth quarter. Millennium Management LLC now owns 7,344 shares of the company’s stock worth $1,576,000 after purchasing an additional 4,936 shares in the last quarter. Finally, Tidal Investments LLC bought a new stake in SiTime in the fourth quarter worth $217,000. 84.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on SITM shares. UBS Group began coverage on shares of SiTime in a report on Thursday, August 14th. They issued a “buy” rating and a $260.00 price objective for the company. Stifel Nicolaus increased their target price on shares of SiTime from $230.00 to $320.00 and gave the company a “buy” rating in a research note on Thursday. Raymond James Financial reiterated an “outperform” rating and issued a $270.00 target price (up previously from $250.00) on shares of SiTime in a research note on Friday, August 29th. Finally, Barclays increased their price target on shares of SiTime from $180.00 to $220.00 and gave the stock an “underweight” rating in a research report on Thursday, August 7th. Five investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, SiTime presently has an average rating of “Moderate Buy” and an average price target of $258.33.

Insider Buying and Selling at SiTime

In other SiTime news, insider Samsheer Ahamad sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $250.00, for a total value of $1,500,000.00. Following the transaction, the insider directly owned 61,888 shares of the company’s stock, valued at approximately $15,472,000. This trade represents a 8.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Rajesh Vashist sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $232.00, for a total transaction of $464,000.00. Following the completion of the transaction, the chief executive officer directly owned 463,208 shares in the company, valued at approximately $107,464,256. The trade was a 0.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,367 shares of company stock valued at $7,258,713 in the last three months. Insiders own 2.30% of the company’s stock.

SiTime Stock Performance

Shares of SITM stock opened at $312.85 on Monday. SiTime Corporation has a 52-week low of $105.40 and a 52-week high of $313.93. The stock has a market cap of $8.13 billion, a PE ratio of -89.90 and a beta of 2.18. The firm’s 50 day moving average price is $226.30 and its two-hundred day moving average price is $196.51.

SiTime (NASDAQ:SITM) last announced 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 period last year, the firm earned $0.12 earnings per share. The business’s revenue for the quarter was up 58.3% on a year-over-year basis. As a group, sell-side analysts predict that SiTime Corporation will post -2.44 earnings per share for the current fiscal year.

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.