Fox Run Management L.L.C. Reduces Stake in SiTime Corporation $SITM

Fox Run Management L.L.C. trimmed its holdings in SiTime Corporation (NASDAQ:SITM) by 42.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 952 shares of the company’s stock after selling 708 shares during the quarter. Fox Run Management L.L.C.’s holdings in SiTime were worth $203,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SITM. Ameriprise Financial Inc. boosted its holdings in shares of SiTime by 17.0% in the 1st quarter. Ameriprise Financial Inc. now owns 603,333 shares of the company’s stock valued at $92,233,000 after buying an additional 87,598 shares in the last quarter. Alliancebernstein L.P. boosted its stake in SiTime by 2,016.8% in the first quarter. Alliancebernstein L.P. now owns 443,227 shares of the company’s stock valued at $67,756,000 after acquiring an additional 422,288 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of SiTime by 41.9% in the 1st quarter. Wellington Management Group LLP now owns 277,590 shares of the company’s stock valued at $42,435,000 after purchasing an additional 82,017 shares during the period. Eventide Asset Management LLC increased its position in SiTime by 5,015.9% during the first quarter. Eventide Asset Management LLC now owns 166,214 shares of the company’s stock worth $25,408,000 after buying an additional 162,965 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in SiTime by 40.0% in the second quarter. Bank of New York Mellon Corp now owns 162,322 shares of the company’s stock valued at $34,588,000 after buying an additional 46,359 shares during the last quarter. Institutional investors and hedge funds own 84.31% of the company’s stock.

Insider Activity

In other SiTime news, EVP Elizabeth A. Howe sold 5,099 shares of the stock in a transaction 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 completion of the transaction, the executive vice president owned 59,070 shares in the company, valued at approximately $18,843,330. This represents a 7.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Piyush B. Sevalia sold 2,056 shares of the business’s stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $251.50, for a total transaction of $517,084.00. Following the sale, the insider owned 78,757 shares in the company, valued at $19,807,385.50. The trade was a 2.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 44,867 shares of company stock valued at $12,458,213 over the last three months. 2.10% of the stock is currently owned by corporate insiders.

SiTime Stock Down 2.1%

NASDAQ SITM opened at $282.58 on Friday. The stock has a market capitalization of $7.38 billion, a P/E ratio of -95.47 and a beta of 2.36. SiTime Corporation has a 52-week low of $105.40 and a 52-week high of $386.00. The firm has a 50-day moving average price of $289.43 and a 200 day moving average price of $236.00.

SiTime (NASDAQ:SITM) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.16. The company had revenue of $83.57 million for the quarter, compared to analyst estimates of $78.08 million. SiTime had a negative return on equity of 5.69% and a negative net margin of 25.18%.The firm’s revenue for the quarter was up 44.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.40 EPS. On average, equities research analysts expect that SiTime Corporation will post -2.44 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently commented on SITM. UBS Group lifted their target price on shares of SiTime from $355.00 to $375.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Raymond James Financial reaffirmed an “outperform” rating and issued a $270.00 target price (up from $250.00) on shares of SiTime in a report on Friday, August 29th. Stifel Nicolaus set a $360.00 price target on SiTime in a report on Thursday, November 6th. Needham & Company LLC upped their price objective on SiTime from $250.00 to $360.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of SiTime in a research note on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $329.17.

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.