D.A. Davidson & CO. Makes New Investment in SiTime Corporation $SITM

D.A. Davidson & CO. bought a new position in shares of SiTime Corporation (NASDAQ:SITM) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 6,073 shares of the company’s stock, valued at approximately $1,830,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Game Plan Financial Advisors LLC acquired a new position in SiTime in the 2nd quarter worth about $25,000. Salomon & Ludwin LLC purchased a new stake in shares of SiTime in the third quarter valued at approximately $47,000. Global Retirement Partners LLC raised its stake in shares of SiTime by 3,220.0% during the 3rd quarter. Global Retirement Partners LLC now owns 166 shares of the company’s stock worth $50,000 after buying an additional 161 shares during the period. State of Wyoming purchased a new position in shares of SiTime during the 2nd quarter valued at approximately $58,000. Finally, Advisors Asset Management Inc. grew its stake in SiTime by 33.6% in the 1st quarter. Advisors Asset Management Inc. now owns 350 shares of the company’s stock valued at $54,000 after acquiring an additional 88 shares during the period. Hedge funds and other institutional investors own 84.31% of the company’s stock.

SiTime Trading Up 2.7%

SITM opened at $342.20 on Friday. SiTime Corporation has a twelve month low of $105.40 and a twelve month high of $387.52. The firm has a market capitalization of $8.93 billion, a PE ratio of -115.61 and a beta of 2.49. The firm’s 50-day moving average price is $329.61 and its 200 day moving average price is $274.21.

SiTime (NASDAQ:SITM) last released its earnings results 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. 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 business’s revenue was up 44.8% on a year-over-year basis. During the same period last year, the company posted $0.40 EPS. As a group, analysts predict that SiTime Corporation will post -2.44 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Needham & Company LLC upped their price objective on shares of SiTime from $250.00 to $360.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Stifel Nicolaus set a $360.00 price target on shares of SiTime in a research report on Thursday, November 6th. Raymond James Financial reaffirmed an “outperform” rating on shares of SiTime in a research note on Tuesday, December 2nd. UBS Group boosted their price objective on SiTime from $355.00 to $375.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. Finally, The Goldman Sachs Group assumed coverage on SiTime in a report on Monday, December 15th. They set a “buy” rating and a $420.00 target price for the company. Seven analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $343.13.

Insider Buying and Selling

In other SiTime news, CEO Rajesh Vashist sold 10,000 shares of the business’s stock in a transaction 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 transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Samsheer Ahamad sold 4,000 shares of the firm’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $291.10, for a total value of $1,164,400.00. Following the completion of the sale, the insider directly owned 51,711 shares of the company’s stock, valued at $15,053,072.10. This trade represents a 7.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 21,500 shares of company stock worth $6,791,710. 2.10% of the stock is owned by corporate insiders.

About SiTime

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.