SiTime Corporation $SITM Holdings Lifted by Ameritas Investment Partners Inc.

Ameritas Investment Partners Inc. raised its position in SiTime Corporation (NASDAQ:SITM) by 13.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,143 shares of the company’s stock after purchasing an additional 262 shares during the quarter. Ameritas Investment Partners Inc.’s holdings in SiTime were worth $457,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. White Pine Capital LLC grew its stake in shares of SiTime by 1.6% in the second quarter. White Pine Capital LLC now owns 5,376 shares of the company’s stock worth $1,146,000 after purchasing an additional 83 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in SiTime by 33.6% in the first quarter. Advisors Asset Management Inc. now owns 350 shares of the company’s stock worth $54,000 after purchasing an additional 88 shares during the period. Game Plan Financial Advisors LLC bought a new position in SiTime in the 2nd quarter valued at about $25,000. CWM LLC grew its position in SiTime by 36.2% in the 2nd quarter. CWM LLC now owns 617 shares of the company’s stock valued at $131,000 after buying an additional 164 shares in the last quarter. Finally, Yousif Capital Management LLC increased its stake in SiTime by 3.5% during the 2nd quarter. Yousif Capital Management LLC now owns 7,238 shares of the company’s stock valued at $1,542,000 after buying an additional 246 shares during the period. Institutional investors own 84.31% of the company’s stock.

Insider Activity

In other SiTime news, insider Fariborz Assaderaghi sold 3,000 shares of the company’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 value of $695,250.00. Following the transaction, the insider owned 90,433 shares in the company, valued at approximately $20,957,847.75. This represents a 3.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Rajesh Vashist sold 10,000 shares of the stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $329.00, for a total transaction of $3,290,000.00. Following the completion of the sale, the chief executive officer owned 439,208 shares of the company’s stock, valued at approximately $144,499,432. The trade was a 2.23% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 42,867 shares of company stock worth $11,972,893. Corporate insiders own 2.10% of the company’s stock.

SiTime Price Performance

Shares of SITM opened at $300.53 on Friday. The company has a 50-day moving average of $290.24 and a two-hundred day moving average of $243.68. The stock has a market cap of $7.84 billion, a price-to-earnings ratio of -101.53 and a beta of 2.36. SiTime Corporation has a one year low of $105.40 and a one year high of $386.00.

SiTime (NASDAQ:SITM) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.16. The business had revenue of $83.57 million for the quarter, compared to analyst estimates of $78.08 million. SiTime had a negative net margin of 25.18% and a negative return on equity of 5.69%. The firm’s revenue was up 44.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.40 earnings per share. Analysts anticipate that SiTime Corporation will post -2.44 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SITM. Stifel Nicolaus set a $360.00 price objective on shares of SiTime in a research note on Thursday, November 6th. Barclays increased their price target on SiTime from $220.00 to $260.00 and gave the company an “underweight” rating in a research note on Thursday, November 6th. Roth Capital reissued a “buy” rating and issued a $350.00 price objective on shares of SiTime in a research note on Thursday, November 6th. Raymond James Financial restated an “outperform” rating and issued a $270.00 price objective (up previously from $250.00) on shares of SiTime in a report on Friday, August 29th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SiTime in a research note on Wednesday, October 8th. Six research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat, SiTime presently has a consensus rating of “Moderate Buy” and an average target price of $332.14.

About SiTime

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.