SiTime Corporation $SITM Shares Acquired by Legato Capital Management LLC

Legato Capital Management LLC increased its holdings in shares of SiTime Corporation (NASDAQ:SITM) by 171.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,788 shares of the company’s stock after purchasing an additional 6,178 shares during the quarter. Legato Capital Management LLC’s holdings in SiTime were worth $3,457,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of SITM. Vanguard Group Inc. lifted its position in SiTime by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 2,825,402 shares of the company’s stock valued at $997,904,000 after buying an additional 61,336 shares in the last quarter. Invesco Ltd. raised its stake in shares of SiTime by 1.8% in the 3rd quarter. Invesco Ltd. now owns 1,037,305 shares of the company’s stock valued at $312,550,000 after acquiring an additional 18,165 shares during the period. State Street Corp raised its stake in shares of SiTime by 3.7% in the 2nd quarter. State Street Corp now owns 911,280 shares of the company’s stock valued at $194,176,000 after acquiring an additional 32,178 shares during the period. Ameriprise Financial Inc. boosted its position in SiTime by 22.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 736,281 shares of the company’s stock worth $156,887,000 after purchasing an additional 132,948 shares during the period. Finally, Wellington Management Group LLP boosted its position in SiTime by 36.8% during the 3rd quarter. Wellington Management Group LLP now owns 537,741 shares of the company’s stock worth $162,027,000 after purchasing an additional 144,671 shares during the period. Hedge funds and other institutional investors own 84.31% of the company’s stock.

SiTime Price Performance

Shares of SITM stock opened at $728.56 on Friday. SiTime Corporation has a 12 month low of $186.49 and a 12 month high of $901.81. The firm has a market capitalization of $19.23 billion, a P/E ratio of -721.35 and a beta of 2.91. The company’s fifty day moving average price is $510.07 and its two-hundred day moving average price is $408.52.

SiTime (NASDAQ:SITM) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $1.44 EPS for the quarter, topping 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 firm had revenue of $113.57 million for the quarter, compared to analyst estimates of $103.51 million. During the same quarter in the previous year, the business posted $0.26 EPS. The firm’s revenue was up 88.3% compared to the same quarter last year. On average, sell-side analysts anticipate that SiTime Corporation will post 3.23 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. The Goldman Sachs Group reaffirmed a “buy” rating and set a $800.00 price target on shares of SiTime in a research report on Thursday, May 7th. Barclays raised shares of SiTime from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $400.00 to $850.00 in a research report on Thursday, May 7th. Needham & Company LLC upped their price target on shares of SiTime from $450.00 to $850.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Zacks Research raised shares of SiTime from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 15th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SiTime in a research report on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, SiTime has a consensus rating of “Moderate Buy” and a consensus price target of $661.88.

Insider Transactions at SiTime

In related news, insider Fariborz Assaderaghi sold 4,984 shares of SiTime stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $406.45, for a total value of $2,025,746.80. Following the completion of the sale, the insider owned 89,194 shares in the company, valued at approximately $36,252,901.30. The trade was a 5.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Raman Chitkara sold 501 shares of SiTime stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $425.03, for a total transaction of $212,940.03. Following the completion of the sale, the director owned 21,508 shares of the company’s stock, valued at approximately $9,141,545.24. This trade represents a 2.28% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 12,610 shares of company stock worth $6,210,444 over the last three months. 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.