Yousif Capital Management LLC Trims Stock Position in SiTime Corporation (NASDAQ:SITM)

Yousif Capital Management LLC lessened its stake in SiTime Corporation (NASDAQ:SITM) by 2.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,992 shares of the company’s stock after selling 153 shares during the period. Yousif Capital Management LLC’s holdings in SiTime were worth $1,069,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in SITM. Vanguard Group Inc. increased its position in SiTime by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 2,468,348 shares of the company’s stock valued at $529,535,000 after purchasing an additional 52,310 shares during the period. Invesco Ltd. boosted its holdings in shares of SiTime by 11.0% during the 4th quarter. Invesco Ltd. now owns 983,175 shares of the company’s stock valued at $210,921,000 after acquiring an additional 97,062 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of SiTime by 16.1% in the 4th quarter. Ameriprise Financial Inc. now owns 515,735 shares of the company’s stock worth $110,641,000 after purchasing an additional 71,658 shares during the period. Geode Capital Management LLC lifted its stake in shares of SiTime by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 442,897 shares of the company’s stock worth $95,037,000 after purchasing an additional 1,975 shares during the period. Finally, Hood River Capital Management LLC lifted its stake in shares of SiTime by 27.0% in the 4th quarter. Hood River Capital Management LLC now owns 421,960 shares of the company’s stock worth $90,523,000 after purchasing an additional 89,632 shares during the period. 84.31% of the stock is currently owned by institutional investors.

SiTime Trading Up 3.4%

Shares of NASDAQ:SITM opened at $228.17 on Thursday. The company has a market capitalization of $5.41 billion, a price-to-earnings ratio of -60.04 and a beta of 2.24. The business has a 50-day moving average price of $180.81 and a 200 day moving average price of $191.23. SiTime Corporation has a 12-month low of $105.40 and a 12-month high of $268.18.

SiTime (NASDAQ:SITM) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.11 by $0.15. SiTime had a negative net margin of 38.60% and a negative return on equity of 9.43%. The business had revenue of $60.31 million during the quarter, compared to analyst estimates of $54.01 million. During the same quarter last year, the firm posted ($0.08) earnings per share. The business’s revenue for the quarter was up 82.7% compared to the same quarter last year. As a group, equities research analysts predict that SiTime Corporation will post -2.44 earnings per share for the current fiscal year.

Insider Activity at SiTime

In related news, insider Samsheer Ahamad sold 7,728 shares of the company’s stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $207.41, for a total transaction of $1,602,864.48. Following the sale, the insider now directly owns 78,095 shares of the company’s stock, valued at approximately $16,197,683.95. This represents a 9.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Fariborz Assaderaghi sold 1,268 shares of the stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $184.92, for a total value of $234,478.56. Following the completion of the sale, the insider now directly owns 112,316 shares in the company, valued at $20,769,474.72. This represents a 1.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 63,818 shares of company stock worth $13,171,258 in the last three months. Insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on SITM shares. Stifel Nicolaus lifted their price objective on shares of SiTime from $180.00 to $210.00 and gave the company a “buy” rating in a research report on Thursday, May 8th. Barclays lifted their target price on SiTime from $135.00 to $180.00 and gave the stock an “underweight” rating in a research report on Wednesday, June 11th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, SiTime has a consensus rating of “Moderate Buy” and a consensus price target of $224.00.

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.