Barometer Capital Management Inc. Has $1.30 Million Stake in SiTime Corporation $SITM

Barometer Capital Management Inc. decreased its stake in shares of SiTime Corporation (NASDAQ:SITM) by 72.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 4,300 shares of the company’s stock after selling 11,410 shares during the quarter. Barometer Capital Management Inc.’s holdings in SiTime were worth $1,296,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Optiver Holding B.V. grew its position in SiTime by 56.1% during the third quarter. Optiver Holding B.V. now owns 89 shares of the company’s stock worth $27,000 after buying an additional 32 shares in the last quarter. Hantz Financial Services Inc. raised its stake in shares of SiTime by 190.3% in the third quarter. Hantz Financial Services Inc. now owns 90 shares of the company’s stock valued at $27,000 after purchasing an additional 59 shares in the last quarter. Salomon & Ludwin LLC acquired a new position in shares of SiTime in the third quarter valued at $47,000. Global Retirement Partners LLC lifted its position in SiTime by 3,220.0% in the third quarter. Global Retirement Partners LLC now owns 166 shares of the company’s stock worth $50,000 after purchasing an additional 161 shares during the period. Finally, Bessemer Group Inc. boosted its stake in SiTime by 27.4% during the third quarter. Bessemer Group Inc. now owns 186 shares of the company’s stock worth $55,000 after buying an additional 40 shares in the last quarter. Institutional investors own 84.31% of the company’s stock.

SiTime Stock Down 1.2%

Shares of SiTime stock opened at $350.93 on Thursday. The stock has a market capitalization of $9.23 billion, a P/E ratio of -192.82 and a beta of 2.53. The company has a 50-day simple moving average of $377.06 and a 200 day simple moving average of $326.80. SiTime Corporation has a 12-month low of $105.40 and a 12-month high of $446.95.

SiTime (NASDAQ:SITM) last released its quarterly earnings results on Wednesday, February 4th. The company reported $1.53 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.33. The firm had revenue of $113.29 million for the quarter, compared to analyst estimates of $101.91 million. SiTime had a negative net margin of 13.13% and a negative return on equity of 2.06%. The company’s revenue for the quarter was up 66.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.48 earnings per share. On average, equities analysts anticipate that SiTime Corporation will post -2.44 earnings per share for the current year.

Analysts Set New Price Targets

SITM has been the topic of several analyst reports. Loop Capital began coverage on shares of SiTime in a report on Friday, November 21st. They issued a “buy” rating and a $350.00 price target on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of SiTime in a research report on Thursday, January 22nd. UBS Group upped their target price on shares of SiTime from $430.00 to $485.00 and gave the company a “buy” rating in a research note on Thursday, February 5th. Roth Mkm reissued a “buy” rating and issued a $450.00 price target on shares of SiTime in a research report on Thursday, February 5th. Finally, Stifel Nicolaus set a $450.00 price objective on SiTime in a report on Thursday, February 5th. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $409.38.

Insiders Place Their Bets

In related news, insider Fariborz Assaderaghi sold 4,984 shares of the stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $406.45, for a total transaction of $2,025,746.80. Following the sale, the insider directly owned 89,194 shares in the company, valued at $36,252,901.30. This represents a 5.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Samsheer Ahamad sold 9,100 shares of the firm’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $441.47, for a total value of $4,017,377.00. Following the sale, the insider directly owned 52,938 shares of the company’s stock, valued at $23,370,538.86. This represents a 14.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 23,263 shares of company stock worth $9,851,457 over the last ninety days. 2.10% of the stock is owned by insiders.

SiTime Profile

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.