SG Americas Securities LLC Buys 2,491 Shares of SiTime Corporation $SITM

SG Americas Securities LLC increased its stake in SiTime Corporation (NASDAQ:SITM) by 271.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 3,410 shares of the company’s stock after purchasing an additional 2,491 shares during the quarter. SG Americas Securities LLC’s holdings in SiTime were worth $1,027,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Game Plan Financial Advisors LLC acquired a new stake in shares of SiTime in the second quarter worth $25,000. Salomon & Ludwin LLC bought a new position in SiTime in the 3rd quarter worth $47,000. Global Retirement Partners LLC lifted its position in 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 acquiring an additional 161 shares during the last quarter. State of Wyoming bought a new stake in SiTime during the second quarter valued at about $58,000. Finally, Advisors Asset Management Inc. grew its position in shares of SiTime by 33.6% in the first quarter. Advisors Asset Management Inc. now owns 350 shares of the company’s stock valued at $54,000 after purchasing an additional 88 shares during the last quarter. Institutional investors own 84.31% of the company’s stock.

SiTime Stock Performance

NASDAQ:SITM opened at $371.44 on Monday. The company has a 50-day moving average of $334.73 and a 200-day moving average of $280.00. SiTime Corporation has a 52 week low of $105.40 and a 52 week high of $387.52. The company has a market capitalization of $9.69 billion, a price-to-earnings ratio of -125.49 and a beta of 2.49.

SiTime (NASDAQ:SITM) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.16. The firm had revenue of $83.57 million during 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 company’s quarterly revenue was up 44.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.40 earnings per share. Sell-side analysts forecast that SiTime Corporation will post -2.44 EPS for the current year.

Analyst Upgrades and Downgrades

SITM has been the subject of several research analyst reports. Loop Capital assumed coverage on SiTime in a research report on Friday, November 21st. They set a “buy” rating and a $350.00 price objective for the company. Stifel Nicolaus upped their price target on SiTime from $360.00 to $400.00 and gave the stock a “buy” rating in a report on Friday. Weiss Ratings restated a “sell (d-)” rating on shares of SiTime in a research note on Wednesday, October 8th. UBS Group boosted their target price on shares of SiTime from $355.00 to $375.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Finally, Barclays set a $360.00 price target on shares of SiTime and gave the company an “equal weight” rating in a report on Thursday. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $360.63.

Insider Activity at SiTime

In other news, insider Samsheer Ahamad sold 4,000 shares of the business’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $291.10, for a total value of $1,164,400.00. Following the sale, the insider owned 51,711 shares in the company, valued at approximately $15,053,072.10. The trade was a 7.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Fariborz Assaderaghi sold 1,500 shares of the stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $291.58, for a total transaction of $437,370.00. Following the sale, the insider owned 84,815 shares of the company’s stock, valued at $24,730,357.70. This trade represents a 1.74% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 21,500 shares of company stock valued at $6,791,710 in the last 90 days. 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.