Caxton Associates LLP Sells 1,491 Shares of SiTime Corporation $SITM

Caxton Associates LLP decreased its position in shares of SiTime Corporation (NASDAQ:SITM) by 32.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,113 shares of the company’s stock after selling 1,491 shares during the quarter. Caxton Associates LLP’s holdings in SiTime were worth $1,075,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Parallel Advisors LLC raised its position in shares of SiTime by 26.2% in the 1st quarter. Parallel Advisors LLC now owns 77 shares of the company’s stock valued at $27,000 after buying an additional 16 shares in the last quarter. Los Angeles Capital Management LLC boosted its stake in shares of SiTime by 0.3% in the 4th quarter. Los Angeles Capital Management LLC now owns 9,023 shares of the company’s stock valued at $3,187,000 after purchasing an additional 25 shares in the last quarter. CWM LLC boosted its position in SiTime by 4.2% in the fourth quarter. CWM LLC now owns 951 shares of the company’s stock valued at $336,000 after buying an additional 38 shares in the last quarter. Corient Private Wealth LLC boosted its holdings in shares of SiTime by 5.9% during the 4th quarter. Corient Private Wealth LLC now owns 703 shares of the company’s stock valued at $249,000 after acquiring an additional 39 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its stake in shares of SiTime by 7.7% during the second quarter. Lazard Asset Management LLC now owns 654 shares of the company’s stock valued at $139,000 after purchasing an additional 47 shares in the last quarter. 84.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SITM has been the topic of several analyst reports. Zacks Research cut shares of 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. Roth Capital reaffirmed a “buy” rating and set a $900.00 target price on shares of SiTime in a report on Thursday, May 7th. The Goldman Sachs Group reiterated a “buy” rating and issued a $800.00 price target on shares of SiTime in a research report on Thursday, May 7th. Finally, Stifel Nicolaus increased their price target on SiTime from $450.00 to $500.00 and gave the company a “buy” rating in a research note on Thursday, April 16th. Eight analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, SiTime has a consensus rating of “Moderate Buy” and a consensus price target of $661.88.

SiTime Stock Performance

Shares of NASDAQ SITM opened at $554.46 on Monday. The company has a market capitalization of $14.64 billion, a P/E ratio of -548.97 and a beta of 2.91. SiTime Corporation has a 52-week low of $186.49 and a 52-week high of $901.81. The company’s 50 day moving average price is $667.85 and its 200-day moving average price is $515.04.

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

Insiders Place Their Bets

In other news, Director Raman Chitkara sold 2,000 shares of SiTime stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $727.38, for a total value of $1,454,760.00. Following the completion of the transaction, the director directly owned 19,898 shares of the company’s stock, valued at approximately $14,473,407.24. This trade represents a 9.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Christine Heckart sold 1,290 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $700.00, for a total value of $903,000.00. Following the completion of the transaction, the director directly owned 790 shares in the company, valued at $553,000. This represents a 62.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 69,709 shares of company stock valued at $50,230,546 over the last quarter. Company insiders own 1.40% of the company’s stock.

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.