Blue Jean Financial LLC Makes New $1.93 Million Investment in SiTime Corporation $SITM

Blue Jean Financial LLC purchased a new position in shares of SiTime Corporation (NASDAQ:SITM) during the 4th quarter, Holdings Channel.com reports. The fund purchased 5,449 shares of the company’s stock, valued at approximately $1,925,000. SiTime accounts for 1.6% of Blue Jean Financial LLC’s investment portfolio, making the stock its 19th biggest position.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its position in SiTime by 3.9% during the 4th quarter. Principal Financial Group Inc. now owns 363,953 shares of the company’s stock worth $128,545,000 after purchasing an additional 13,577 shares during the period. Teachers Retirement System of The State of Kentucky grew its position in SiTime by 145.9% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 12,215 shares of the company’s stock worth $3,681,000 after purchasing an additional 7,247 shares during the period. Cibc World Market Inc. acquired a new stake in SiTime during the 3rd quarter worth about $2,259,000. Royce & Associates LP grew its position in SiTime by 95.0% during the 3rd quarter. Royce & Associates LP now owns 54,476 shares of the company’s stock worth $16,414,000 after purchasing an additional 26,538 shares during the period. Finally, HighTower Advisors LLC grew its position in SiTime by 95.8% during the 3rd quarter. HighTower Advisors LLC now owns 30,368 shares of the company’s stock worth $9,151,000 after purchasing an additional 14,859 shares during the period. 84.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on SITM shares. Needham & Company LLC increased their price target on SiTime from $450.00 to $850.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Roth Mkm reaffirmed a “buy” rating and set a $900.00 price target on shares of SiTime in a research report on Thursday, May 7th. Wall Street Zen raised SiTime from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Stifel Nicolaus increased 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. Finally, UBS Group increased their price target on SiTime from $675.00 to $775.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $661.88.

Insider Buying and Selling at SiTime

In other news, Director Christine Heckart sold 1,290 shares of the stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $700.00, for a total transaction of $903,000.00. Following the sale, the director directly owned 790 shares of the company’s stock, valued at $553,000. This represents a 62.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Akira Takata sold 1,500 shares of the stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $860.86, for a total transaction of $1,291,290.00. Following the sale, the director directly owned 12,234 shares in the company, valued at approximately $10,531,761.24. The trade was a 10.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 52,624 shares of company stock worth $35,942,053. 1.40% of the stock is currently owned by company insiders.

SiTime Stock Up 1.2%

SITM stock opened at $729.89 on Friday. The company’s 50-day simple moving average is $618.04 and its 200-day simple moving average is $451.56. SiTime Corporation has a 52-week low of $186.49 and a 52-week high of $901.81. The firm has a market cap of $19.27 billion, a P/E ratio of -722.66 and a beta of 2.94.

SiTime (NASDAQ:SITM) last posted its earnings results on Wednesday, May 6th. The company reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business 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 company posted $0.26 EPS. The company’s revenue for the quarter was up 88.3% on a year-over-year basis. On average, analysts anticipate that SiTime Corporation will post 3.23 earnings per share for the current fiscal year.

About SiTime

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.