Cwm LLC Has $131,000 Stock Position in SiTime Corporation $SITM

Cwm LLC grew its position in SiTime Corporation (NASDAQ:SITM) by 36.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 617 shares of the company’s stock after buying an additional 164 shares during the quarter. Cwm LLC’s holdings in SiTime were worth $131,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in SITM. Peregrine Investment Management Inc. lifted its stake in shares of SiTime by 28.4% in the 2nd quarter. Peregrine Investment Management Inc. now owns 67,870 shares of the company’s stock valued at $14,462,000 after purchasing an additional 15,000 shares during the last quarter. Fred Alger Management LLC lifted its position in shares of SiTime by 45.5% in the first quarter. Fred Alger Management LLC now owns 128,525 shares of the company’s stock worth $19,648,000 after buying an additional 40,220 shares during the last quarter. Toth Financial Advisory Corp acquired a new stake in shares of SiTime in the second quarter worth about $298,000. GAMMA Investing LLC lifted its position in shares of SiTime by 80.9% in the first quarter. GAMMA Investing LLC now owns 1,708 shares of the company’s stock worth $261,000 after buying an additional 764 shares during the last quarter. Finally, Strs Ohio acquired a new stake in SiTime in the 1st quarter worth approximately $734,000. 84.31% of the stock is currently owned by institutional investors and hedge funds.

SiTime Price Performance

SITM stock opened at $277.14 on Friday. The business has a fifty day moving average price of $275.39 and a 200 day moving average price of $223.51. SiTime Corporation has a fifty-two week low of $105.40 and a fifty-two week high of $323.66. The stock has a market capitalization of $7.21 billion, a price-to-earnings ratio of -79.64 and a beta of 2.35.

SiTime (NASDAQ:SITM) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.18. The firm had revenue of $69.49 million during the quarter, compared to analysts’ expectations of $64.66 million. SiTime had a negative net margin of 32.15% and a negative return on equity of 7.54%. The company’s quarterly revenue was up 58.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.12 EPS. On average, equities analysts expect that SiTime Corporation will post -2.44 earnings per share for the current fiscal year.

Insider Transactions at SiTime

In related news, CEO Rajesh Vashist sold 2,000 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $294.00, for a total transaction of $588,000.00. Following the completion of the sale, the chief executive officer directly owned 451,208 shares of the company’s stock, valued at approximately $132,655,152. This represents a 0.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Elizabeth A. Howe sold 5,099 shares of the stock in a transaction that occurred 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 sale, the executive vice president directly owned 59,070 shares of the company’s stock, valued at approximately $18,843,330. The trade was a 7.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 36,367 shares of company stock valued at $9,330,713. Corporate insiders own 2.10% of the company’s stock.

Analysts Set New Price Targets

SITM has been the subject of a number of analyst reports. Stifel Nicolaus boosted their price objective on shares of SiTime from $230.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday, September 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of SiTime in a research report on Wednesday, October 8th. UBS Group boosted their target price on shares of SiTime from $260.00 to $355.00 and gave the stock a “buy” rating in a research report on Monday, October 6th. Raymond James Financial reissued an “outperform” rating and set a $270.00 target price (up previously from $250.00) on shares of SiTime in a research report on Friday, August 29th. Finally, Barclays boosted their price objective on SiTime from $180.00 to $220.00 and gave the stock an “underweight” rating in a research report on Thursday, August 7th. Five investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, SiTime currently has an average rating of “Hold” and a consensus price target of $274.17.

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.