Lisanti Capital Growth LLC Buys 9,355 Shares of SiTime Corporation $SITM

Lisanti Capital Growth LLC grew its position in SiTime Corporation (NASDAQ:SITM) by 79.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,175 shares of the company’s stock after acquiring an additional 9,355 shares during the quarter. Lisanti Capital Growth LLC’s holdings in SiTime were worth $4,512,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Los Angeles Capital Management LLC raised its position in SiTime by 55.8% in the 2nd quarter. Los Angeles Capital Management LLC now owns 12,398 shares of the company’s stock worth $2,642,000 after purchasing an additional 4,441 shares during the period. Bank of New York Mellon Corp grew its stake in shares of SiTime by 40.0% during 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. K.J. Harrison & Partners Inc grew its stake in shares of SiTime by 40.0% during the second quarter. K.J. Harrison & Partners Inc now owns 7,000 shares of the company’s stock valued at $1,492,000 after buying an additional 2,000 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of SiTime by 8.5% in the second quarter. Bank of Montreal Can now owns 3,168 shares of the company’s stock worth $675,000 after buying an additional 247 shares during the period. Finally, Amalgamated Bank lifted its stake in shares of SiTime by 8.5% during the 2nd quarter. Amalgamated Bank now owns 5,872 shares of the company’s stock worth $1,251,000 after acquiring an additional 460 shares during the last quarter. 84.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SITM. UBS Group lifted their target price on SiTime from $355.00 to $375.00 and gave the stock a “buy” rating in a research report on Thursday. Barclays raised their price target on shares of SiTime from $220.00 to $260.00 and gave the stock an “underweight” rating in a research note on Thursday. Weiss Ratings reissued a “sell (d-)” rating on shares of SiTime in a research report on Wednesday, October 8th. Roth Capital restated a “buy” rating and issued a $350.00 target price on shares of SiTime in a research note on Thursday. Finally, Needham & Company LLC lifted their price target on shares of SiTime from $250.00 to $360.00 and gave the company a “buy” rating in a research note on Thursday. Five equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $329.17.

SiTime Stock Down 3.8%

Shares of SiTime stock opened at $326.94 on Friday. The firm’s 50 day moving average price is $282.61 and its 200-day moving average price is $231.24. The company has a market cap of $8.50 billion, a P/E ratio of -110.45 and a beta of 2.36. SiTime Corporation has a 52-week low of $105.40 and a 52-week high of $386.00.

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

Insider Transactions at SiTime

In other SiTime news, insider Piyush B. Sevalia sold 2,056 shares of the firm’s stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $251.50, for a total transaction of $517,084.00. Following the completion of the transaction, the insider directly owned 78,757 shares of the company’s stock, valued at approximately $19,807,385.50. This trade represents a 2.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Elizabeth A. Howe sold 5,099 shares of the firm’s stock in a transaction on Monday, October 6th. The stock was sold at an average price of $319.00, for a total transaction of $1,626,581.00. Following the transaction, the executive vice president directly owned 59,070 shares of the company’s stock, valued at approximately $18,843,330. This trade represents a 7.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 34,867 shares of company stock worth $9,168,213 over the last 90 days. Insiders own 2.10% 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.