Boothbay Fund Management LLC Purchases 1,914 Shares of SiTime Corporation $SITM

Boothbay Fund Management LLC increased its position in SiTime Corporation (NASDAQ:SITM) by 21.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,989 shares of the company’s stock after buying an additional 1,914 shares during the quarter. Boothbay Fund Management LLC’s holdings in SiTime were worth $3,311,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Optiver Holding B.V. increased its position in shares of SiTime by 56.1% in the third quarter. Optiver Holding B.V. now owns 89 shares of the company’s stock valued at $27,000 after acquiring an additional 32 shares during the period. Hantz Financial Services Inc. boosted its holdings in shares of SiTime by 190.3% during the third quarter. Hantz Financial Services Inc. now owns 90 shares of the company’s stock worth $27,000 after purchasing an additional 59 shares during the period. Salomon & Ludwin LLC bought a new stake in shares of SiTime in the third quarter worth about $47,000. Global Retirement Partners LLC grew its stake in shares of 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 last quarter. Finally, Bessemer Group Inc. increased its holdings in SiTime by 27.4% during the 3rd quarter. Bessemer Group Inc. now owns 186 shares of the company’s stock valued at $55,000 after purchasing an additional 40 shares during the period. 84.31% of the stock is currently owned by institutional investors.

SiTime Stock Up 4.8%

NASDAQ SITM opened at $341.69 on Tuesday. The firm has a market capitalization of $8.99 billion, a PE ratio of -187.74 and a beta of 2.53. The stock’s 50 day moving average is $375.75 and its 200 day moving average is $329.32. SiTime Corporation has a twelve month low of $105.40 and a twelve month high of $446.95.

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

Insider Buying and Selling at SiTime

In other SiTime news, Director Akira Takata sold 3,500 shares of the company’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $431.73, for a total value of $1,511,055.00. Following the sale, the director owned 13,734 shares in the company, valued at approximately $5,929,379.82. This represents a 20.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Raman Chitkara sold 501 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $425.03, for a total transaction of $212,940.03. Following the transaction, the director directly owned 21,508 shares of the company’s stock, valued at $9,141,545.24. This represents a 2.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 23,263 shares of company stock valued at $9,851,457 over the last three months. 2.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on SITM shares. Loop Capital assumed coverage on SiTime in a report on Friday, November 21st. They issued a “buy” rating and a $350.00 price objective for the company. UBS Group upped their target price on SiTime from $430.00 to $485.00 and gave the company a “buy” rating in a report on Thursday, February 5th. Barclays set a $400.00 price target on SiTime in a research note on Thursday, February 5th. Wall Street Zen downgraded shares of SiTime from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Needham & Company LLC upped their price objective on shares of SiTime from $400.00 to $450.00 and gave the stock a “buy” rating in a report on Thursday, February 5th. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $409.38.

SiTime Company 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.