128,389 Shares in SiTime Corporation $SITM Bought by FengHe Fund Management Pte. Ltd.

FengHe Fund Management Pte. Ltd. acquired a new position in shares of SiTime Corporation (NASDAQ:SITM) in the 4th quarter, HoldingsChannel.com reports. The fund acquired 128,389 shares of the company’s stock, valued at approximately $45,346,000. SiTime accounts for about 2.6% of FengHe Fund Management Pte. Ltd.’s portfolio, making the stock its 15th largest position.

Several other hedge funds also recently bought and sold shares of SITM. Wellington Management Group LLP increased its position in SiTime by 36.8% during the third quarter. Wellington Management Group LLP now owns 537,741 shares of the company’s stock worth $162,027,000 after buying an additional 144,671 shares in the last quarter. Ameriprise Financial Inc. increased its position in SiTime by 22.0% during the second quarter. Ameriprise Financial Inc. now owns 736,281 shares of the company’s stock worth $156,887,000 after buying an additional 132,948 shares in the last quarter. Vanguard Group Inc. increased its position in SiTime by 4.7% during the third quarter. Vanguard Group Inc. now owns 2,764,066 shares of the company’s stock worth $832,841,000 after buying an additional 123,287 shares in the last quarter. TimesSquare Capital Management LLC increased its position in SiTime by 455.2% during the third quarter. TimesSquare Capital Management LLC now owns 131,700 shares of the company’s stock worth $39,683,000 after buying an additional 107,980 shares in the last quarter. Finally, UBS Group AG increased its position in SiTime by 47.5% during the third quarter. UBS Group AG now owns 168,491 shares of the company’s stock worth $50,768,000 after buying an additional 54,243 shares in the last quarter. Hedge funds and other institutional investors own 84.31% of the company’s stock.

Insiders Place Their Bets

In other news, Director Akira Takata sold 3,500 shares of SiTime stock in a transaction on Friday, February 6th. The stock was sold at an average price of $431.73, for a total value of $1,511,055.00. Following the completion of the sale, the director owned 13,734 shares of the company’s stock, valued at $5,929,379.82. The trade was a 20.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Raman Chitkara sold 501 shares of SiTime stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $425.03, for a total value of $212,940.03. Following the completion of the sale, the director directly owned 21,508 shares of the company’s stock, valued at approximately $9,141,545.24. This represents a 2.28% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 26,178 shares of company stock valued at $11,282,324. 2.30% of the stock is currently owned by company insiders.

SiTime Stock Down 3.9%

Shares of NASDAQ:SITM opened at $547.98 on Tuesday. The company has a market cap of $14.47 billion, a P/E ratio of -301.09 and a beta of 2.57. SiTime Corporation has a 52 week low of $138.74 and a 52 week high of $591.13. The business has a fifty day simple moving average of $398.66 and a 200-day simple moving average of $357.19.

SiTime (NASDAQ:SITM) last announced its quarterly earnings data on Wednesday, February 4th. The company reported $1.53 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.33. The business had revenue of $113.29 million during the quarter, compared to the consensus estimate of $101.91 million. SiTime had a negative return on equity of 2.06% and a negative net margin of 13.13%.The business’s revenue for the quarter was up 66.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.48 earnings per share. Sell-side analysts expect that SiTime Corporation will post 1.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on SITM. Roth Mkm reissued a “buy” rating and set a $450.00 price target on shares of SiTime in a research report on Thursday, February 5th. UBS Group raised their price target on SiTime from $430.00 to $485.00 and gave the stock a “buy” rating in a research report on Thursday, February 5th. Needham & Company LLC raised their price target on SiTime from $400.00 to $450.00 and gave the stock a “buy” rating in a research report on Thursday, February 5th. Barclays set a $400.00 price target on SiTime in a research report on Thursday, February 5th. Finally, Stifel Nicolaus raised their price target on SiTime from $450.00 to $500.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th. Seven equities research 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. Based on data from MarketBeat, SiTime presently has a consensus rating of “Moderate Buy” and an average target price of $415.63.

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.