14,805 Shares in SiTime Corporation $SITM Bought by Atika Capital Management LLC

Atika Capital Management LLC purchased a new position in shares of SiTime Corporation (NASDAQ:SITM) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 14,805 shares of the company’s stock, valued at approximately $5,113,000. Atika Capital Management LLC owned approximately 0.06% of SiTime at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of SITM. Norges Bank bought a new stake in SiTime in the fourth quarter valued at about $83,977,000. Whale Rock Capital Management LLC raised its position in SiTime by 45.4% in the fourth 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. Price T Rowe Associates Inc. MD lifted its stake in SiTime by 61.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 562,892 shares of the company’s stock worth $198,808,000 after purchasing an additional 213,242 shares during the period. Fuller & Thaler Asset Management Inc. bought a new position in SiTime during the fourth quarter worth about $59,452,000. Finally, Wellington Management Group LLP boosted its holdings in SiTime by 36.8% during the third quarter. Wellington Management Group LLP now owns 537,741 shares of the company’s stock valued at $162,027,000 after purchasing an additional 144,671 shares in the last quarter. Institutional investors own 84.31% of the company’s stock.

SiTime Stock Down 2.4%

SiTime stock opened at $576.41 on Friday. The business’s 50-day simple moving average is $672.24 and its 200 day simple moving average is $513.49. The stock has a market cap of $15.22 billion, a price-to-earnings ratio of -570.70 and a beta of 2.91. SiTime Corporation has a 12-month low of $186.49 and a 12-month high of $901.81.

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

Insider Activity

In other news, Director Akira Takata sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $860.86, for a total transaction of $1,291,290.00. Following the sale, the director owned 12,234 shares of the company’s stock, valued at $10,531,761.24. This trade represents a 10.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Fariborz Assaderaghi sold 1,709 shares of the firm’s stock in a transaction dated 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 sale, the insider directly owned 81,436 shares in the company, valued at approximately $59,569,619.64. This represents a 2.06% decrease in their position. 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. In the last quarter, insiders sold 69,709 shares of company stock valued at $50,230,546. Company insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on SITM shares. Zacks Research lowered SiTime from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Wall Street Zen upgraded SiTime from a “hold” rating to a “buy” rating in a research report on Sunday, July 12th. Roth Capital reiterated a “buy” rating and set a $900.00 price objective on shares of SiTime in a research note on Thursday, May 7th. Needham & Company LLC lifted their price objective on SiTime from $450.00 to $850.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Finally, Barclays raised SiTime from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $400.00 to $850.00 in a report on Thursday, May 7th. Eight research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price 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.