Journey Strategic Wealth LLC Acquires Shares of 2,074 SiTime Corporation $SITM

Journey Strategic Wealth LLC acquired a new stake in shares of SiTime Corporation (NASDAQ:SITM) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,074 shares of the company’s stock, valued at approximately $442,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Envestnet Asset Management Inc. lifted its position in SiTime by 4.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 15,353 shares of the company’s stock valued at $2,347,000 after acquiring an additional 657 shares in the last quarter. CWM LLC increased its holdings in SiTime by 69.0% during the 1st 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. Royce & Associates LP raised its stake in shares of SiTime by 200.5% in the first quarter. Royce & Associates LP now owns 61,922 shares of the company’s stock worth $9,466,000 after purchasing an additional 41,316 shares during the last quarter. GSA Capital Partners LLP bought a new position in shares of SiTime in the first quarter valued at approximately $1,225,000. Finally, US Bancorp DE lifted its holdings in shares of SiTime by 134.6% in the first quarter. US Bancorp DE now owns 1,654 shares of the company’s stock valued at $253,000 after purchasing an additional 949 shares in the last quarter. Institutional investors and hedge funds own 84.31% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Rajesh Vashist sold 10,000 shares of the stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $329.00, for a total value of $3,290,000.00. Following the sale, the chief executive officer directly owned 439,208 shares of the company’s stock, valued at approximately $144,499,432. This represents a 2.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Fariborz Assaderaghi sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $231.75, for a total transaction of $695,250.00. Following the completion of the transaction, the insider owned 90,433 shares of the company’s stock, valued at $20,957,847.75. This trade represents a 3.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 44,867 shares of company stock worth $12,458,213 over the last quarter. Insiders own 2.10% of the company’s stock.

SiTime Trading Up 6.0%

SiTime stock opened at $267.87 on Friday. The firm has a 50 day simple moving average of $290.62 and a 200 day simple moving average of $240.25. SiTime Corporation has a 1-year low of $105.40 and a 1-year high of $386.00. The firm has a market capitalization of $6.99 billion, a price-to-earnings ratio of -90.50 and a beta of 2.36.

SiTime (NASDAQ:SITM) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.16. The firm had revenue of $83.57 million during 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 business’s revenue for the quarter was up 44.8% on a year-over-year basis. During the same period last year, the company earned $0.40 earnings per share. On average, equities research analysts forecast that SiTime Corporation will post -2.44 EPS for the current year.

Analyst Ratings Changes

SITM has been the subject of several recent analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of SiTime in a research note on Wednesday, October 8th. Roth Capital reaffirmed a “buy” rating and issued a $350.00 price target on shares of SiTime in a report on Thursday, November 6th. Barclays upped their price objective on SiTime from $220.00 to $260.00 and gave the company an “underweight” rating in a research note on Thursday, November 6th. Stifel Nicolaus set a $360.00 target price on SiTime in a research report on Thursday, November 6th. Finally, UBS Group boosted their target price on SiTime from $355.00 to $375.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. Six research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $332.14.

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.