K.J. Harrison & Partners Inc Buys 2,000 Shares of SiTime Corporation $SITM

K.J. Harrison & Partners Inc raised its holdings in SiTime Corporation (NASDAQ:SITM) by 40.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,000 shares of the company’s stock after buying an additional 2,000 shares during the quarter. K.J. Harrison & Partners Inc’s holdings in SiTime were worth $1,492,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Game Plan Financial Advisors LLC bought a new stake in SiTime in the 2nd quarter valued at $25,000. Advisors Asset Management Inc. increased its holdings in SiTime by 33.6% in the 1st quarter. Advisors Asset Management Inc. now owns 350 shares of the company’s stock valued at $54,000 after buying an additional 88 shares during the period. CWM LLC increased its holdings in SiTime by 69.0% in the 1st quarter. CWM LLC now owns 453 shares of the company’s stock valued at $69,000 after buying an additional 185 shares during the period. Nisa Investment Advisors LLC increased its holdings 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 buying an additional 388 shares during the period. Finally, Praxis Investment Management Inc. bought a new stake in SiTime in the 2nd quarter valued at $202,000. Institutional investors own 84.31% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on SITM shares. Weiss Ratings reissued a “sell (d-)” rating on shares of SiTime in a report on Wednesday, October 8th. UBS Group boosted their price target on shares of SiTime from $260.00 to $355.00 and gave the company a “buy” rating in a report on Monday, October 6th. Barclays boosted their price target on shares of SiTime from $180.00 to $220.00 and gave the company an “underweight” rating in a report on Thursday, August 7th. Stifel Nicolaus upped their target price on shares of SiTime from $230.00 to $320.00 and gave the stock a “buy” rating in a report on Thursday, September 18th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $270.00 target price (up previously from $250.00) on shares of SiTime in a report on Friday, August 29th. Five research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $274.17.

SiTime Stock Performance

SITM opened at $289.64 on Monday. The firm’s 50-day simple moving average is $276.36 and its 200-day simple moving average is $225.85. SiTime Corporation has a twelve month low of $105.40 and a twelve month high of $323.66. The firm has a market cap of $7.53 billion, a price-to-earnings ratio of -83.23 and a beta of 2.36.

SiTime (NASDAQ:SITM) last posted its earnings results on Wednesday, August 6th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.18. The business had revenue of $69.49 million for the quarter, compared to analyst estimates of $64.66 million. SiTime had a negative net margin of 32.15% and a negative return on equity of 7.54%. The firm’s quarterly revenue was up 58.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.12 EPS. As a group, sell-side analysts anticipate that SiTime Corporation will post -2.44 EPS for the current fiscal year.

Insider Buying and Selling at SiTime

In related news, insider Piyush B. Sevalia sold 2,056 shares of the company’s stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $251.50, for a total transaction of $517,084.00. Following the transaction, the insider owned 78,757 shares in the company, valued at $19,807,385.50. This represents a 2.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Fariborz Assaderaghi sold 3,000 shares of the company’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $231.75, for a total transaction of $695,250.00. Following the transaction, the insider owned 90,433 shares in the company, valued at approximately $20,957,847.75. This trade represents a 3.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 36,367 shares of company stock worth $9,330,713 over the last quarter. Corporate insiders own 2.30% of the company’s stock.

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.