Entropy Technologies LP Makes New $869,000 Investment in SiTime Corporation $SITM

Entropy Technologies LP acquired a new stake in shares of SiTime Corporation (NASDAQ:SITM) during the 1st quarter, HoldingsChannel.com reports. The fund acquired 2,515 shares of the company’s stock, valued at approximately $869,000.

Several other institutional investors have also recently made changes to their positions in the company. Rakuten Securities Inc. lifted its stake in shares of SiTime by 188.5% in the 4th quarter. Rakuten Securities Inc. now owns 75 shares of the company’s stock valued at $26,000 after purchasing an additional 49 shares during the period. Parallel Advisors LLC boosted its position in shares of SiTime by 26.2% during the first quarter. Parallel Advisors LLC now owns 77 shares of the company’s stock valued at $27,000 after purchasing an additional 16 shares in the last quarter. Larson Financial Group LLC grew its stake in SiTime by 3,200.0% in the third quarter. Larson Financial Group LLC now owns 99 shares of the company’s stock worth $30,000 after purchasing an additional 96 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in shares of SiTime in the 4th quarter worth about $33,000. Finally, Danske Bank A S purchased a new position in SiTime during the 4th quarter valued at about $35,000. Institutional investors own 84.31% of the company’s stock.

SiTime Stock Performance

NASDAQ:SITM opened at $491.10 on Wednesday. The firm has a market cap of $12.97 billion, a P/E ratio of -486.24 and a beta of 2.91. SiTime Corporation has a fifty-two week low of $186.49 and a fifty-two week high of $901.81. The firm has a 50-day simple moving average of $659.74 and a two-hundred day simple moving average of $517.34.

SiTime (NASDAQ:SITM) last issued its earnings results on Wednesday, May 6th. The company reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.30. SiTime had a negative net margin of 6.38% and a positive return on equity of 0.53%. The firm had revenue of $113.57 million for the quarter, compared to the consensus estimate of $103.51 million. During the same quarter in the prior year, the firm posted $0.26 earnings per share. The business’s revenue was up 88.3% on a year-over-year basis. On average, equities research analysts predict that SiTime Corporation will post 3.23 EPS for the current year.

Insider Buying and Selling

In related news, CEO Rajesh Vashist sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $701.13, for a total value of $21,033,900.00. Following the completion of the transaction, the chief executive officer directly owned 402,898 shares in the company, valued at $282,483,874.74. The trade was a 6.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Christine Heckart sold 1,290 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $700.00, for a total value of $903,000.00. Following the completion of the transaction, the director directly owned 790 shares in the company, valued at $553,000. This trade represents a 62.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 69,709 shares of company stock worth $50,230,546 over the last 90 days. 1.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

SITM has been the topic of a number of recent research reports. UBS Group upped their price objective on shares of SiTime from $675.00 to $775.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of SiTime in a research report on Friday, July 17th. Stifel Nicolaus upped their price target on SiTime from $450.00 to $500.00 and gave the stock a “buy” rating in a research note on Thursday, April 16th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $800.00 price objective on shares of SiTime in a research report on Thursday, May 7th. Finally, Needham & Company LLC boosted their target price on SiTime from $450.00 to $850.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Eight equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $661.88.

SiTime Profile

SiTime Corporation is a fabless semiconductor company specializing in silicon timing solutions that leverage micro-electromechanical systems (MEMS) technology as an alternative to traditional quartz crystals. Its portfolio of programmable oscillators, resonators, clock generators, jitter attenuators and network synchronizers addresses precision timekeeping requirements across a wide range of electronic systems. By integrating MEMS resonators with advanced mixed-signal control circuitry, SiTime’s products offer enhanced reliability, resistance to shock and vibration, and a smaller footprint compared with conventional quartz devices.

The company’s timing devices serve diverse end markets, including telecommunications infrastructure, data center and enterprise networking, consumer electronics, automotive systems, industrial automation, and aerospace and defense applications.