SiTime Corporation $SITM Shares Acquired by Universal Beteiligungs und Servicegesellschaft mbH

Universal Beteiligungs und Servicegesellschaft mbH lifted its stake in shares of SiTime Corporation (NASDAQ:SITM) by 21.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 44,363 shares of the company’s stock after acquiring an additional 7,772 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH owned 0.17% of SiTime worth $13,367,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SITM. Royal Bank of Canada increased its holdings in SiTime by 12.5% during the 1st quarter. Royal Bank of Canada now owns 4,411 shares of the company’s stock worth $675,000 after purchasing an additional 491 shares during the period. Advisors Asset Management Inc. grew its position in shares of SiTime by 33.6% during the first quarter. Advisors Asset Management Inc. now owns 350 shares of the company’s stock worth $54,000 after buying an additional 88 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of SiTime by 310.8% during the first quarter. AQR Capital Management LLC now owns 10,754 shares of the company’s stock worth $1,557,000 after buying an additional 8,136 shares during the period. Intech Investment Management LLC increased its stake in shares of SiTime by 21.6% during the first quarter. Intech Investment Management LLC now owns 8,322 shares of the company’s stock worth $1,272,000 after buying an additional 1,477 shares during the period. Finally, GAMMA Investing LLC raised its holdings in SiTime by 53.5% in the second quarter. GAMMA Investing LLC now owns 2,622 shares of the company’s stock valued at $559,000 after acquiring an additional 914 shares in the last quarter. 84.31% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other SiTime news, insider Samsheer Ahamad sold 4,000 shares of SiTime stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $291.10, for a total transaction of $1,164,400.00. Following the transaction, the insider owned 51,711 shares of the company’s stock, valued at $15,053,072.10. The trade was a 7.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Rajesh Vashist sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $369.20, for a total value of $738,400.00. Following the completion of the sale, the chief executive officer owned 431,609 shares of the company’s stock, valued at approximately $159,350,042.80. This represents a 0.46% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 21,500 shares of company stock valued at $6,791,710. Insiders own 2.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on SITM shares. Loop Capital initiated coverage on shares of SiTime in a report on Friday, November 21st. They set a “buy” rating and a $350.00 price target for the company. Stifel Nicolaus lifted their price objective on shares of SiTime from $360.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, January 16th. Needham & Company LLC boosted their target price on shares of SiTime from $250.00 to $360.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. The Goldman Sachs Group started coverage on SiTime in a research note on Monday, December 15th. They issued a “buy” rating and a $420.00 price target on the stock. Finally, UBS Group lifted their price target on SiTime from $355.00 to $375.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Seven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $360.63.

SiTime Trading Down 5.5%

Shares of SiTime stock opened at $342.90 on Friday. The company has a fifty day simple moving average of $340.98 and a 200-day simple moving average of $284.37. The stock has a market cap of $8.95 billion, a price-to-earnings ratio of -115.84 and a beta of 2.49. SiTime Corporation has a 12-month low of $105.40 and a 12-month high of $393.80.

SiTime (NASDAQ:SITM) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.16. SiTime had a negative net margin of 25.18% and a negative return on equity of 5.69%. The firm had revenue of $83.57 million during the quarter, compared to analysts’ expectations of $78.08 million. During the same period in the previous year, the company earned $0.40 earnings per share. SiTime’s quarterly revenue was up 44.8% compared to the same quarter last year. On average, analysts forecast that SiTime Corporation will post -2.44 earnings per share for the current fiscal year.

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.