3,100 Shares in SiTime Corporation $SITM Purchased by Andar Capital Management HK Ltd

Andar Capital Management HK Ltd acquired a new stake in shares of SiTime Corporation (NASDAQ:SITM) during the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 3,100 shares of the company’s stock, valued at approximately $1,071,000. SiTime makes up about 0.9% of Andar Capital Management HK Ltd’s portfolio, making the stock its 13th biggest position.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of SiTime by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 2,825,402 shares of the company’s stock worth $997,904,000 after acquiring an additional 61,336 shares in the last quarter. Invesco Ltd. increased its stake in shares of SiTime by 1.8% during the third quarter. Invesco Ltd. now owns 1,037,305 shares of the company’s stock valued at $312,550,000 after purchasing an additional 18,165 shares in the last quarter. State Street Corp lifted its holdings in shares of SiTime by 3.7% during the second quarter. State Street Corp now owns 911,280 shares of the company’s stock valued at $194,176,000 after purchasing an additional 32,178 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of SiTime by 22.0% during the second quarter. Ameriprise Financial Inc. now owns 736,281 shares of the company’s stock valued at $156,887,000 after purchasing an additional 132,948 shares during the last quarter. Finally, Whale Rock Capital Management LLC boosted its position in shares of SiTime by 45.4% in the 4th quarter. Whale Rock Capital Management LLC now owns 698,539 shares of the company’s stock worth $246,717,000 after purchasing an additional 218,038 shares in the last quarter. Hedge funds and other institutional investors own 84.31% of the company’s stock.

Insider Buying and Selling

In related news, insider Fariborz Assaderaghi sold 1,709 shares of the firm’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $731.49, for a total value of $1,250,116.41. Following the transaction, the insider directly owned 81,436 shares of the company’s stock, valued at approximately $59,569,619.64. This trade represents a 2.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Raman Chitkara sold 2,000 shares of SiTime stock in a transaction on Friday, June 12th. The shares were sold at an average price of $727.38, for a total value of $1,454,760.00. Following the transaction, the director owned 19,898 shares in the company, valued at $14,473,407.24. This trade represents a 9.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 69,709 shares of company stock valued at $50,230,546 in the last 90 days. 1.40% of the stock is owned by insiders.

SiTime Trading Up 0.0%

Shares of SITM opened at $555.15 on Tuesday. The firm has a market cap of $14.66 billion, a PE ratio of -549.65 and a beta of 2.91. The firm has a fifty day simple moving average of $687.15 and a two-hundred day simple moving average of $508.69. SiTime Corporation has a 1-year low of $186.49 and a 1-year high of $901.81.

SiTime (NASDAQ:SITM) last released its quarterly earnings results on Wednesday, May 6th. The company reported $1.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.30. The firm had revenue of $113.57 million for the quarter, compared to the consensus estimate of $103.51 million. SiTime had a positive return on equity of 0.53% and a negative net margin of 6.38%.The company’s revenue for the quarter was up 88.3% on a year-over-year basis. During the same period last year, the business posted $0.26 EPS. As a group, research analysts forecast that SiTime Corporation will post 3.23 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Zacks Research cut SiTime from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Wall Street Zen raised SiTime from a “hold” rating to a “buy” rating in a research report on Sunday, July 12th. UBS Group upped their price target on shares of SiTime from $675.00 to $775.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Weiss Ratings restated a “sell (d-)” rating on shares of SiTime in a report on Tuesday, April 21st. Finally, Needham & Company LLC upped their price objective on SiTime from $450.00 to $850.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Eight equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $661.88.

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.