Apis Capital Advisors LLC Acquires Shares of 15,800 SiTime Corporation $SITM

Apis Capital Advisors LLC acquired a new stake in SiTime Corporation (NASDAQ:SITM) during the fourth quarter, Holdings Channel reports. The fund acquired 15,800 shares of the company’s stock, valued at approximately $5,580,000. SiTime accounts for approximately 1.0% of Apis Capital Advisors LLC’s investment portfolio, making the stock its 28th largest position.

Other institutional investors have also modified their holdings of the company. Royal Bank of Canada increased its position in shares of 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 last quarter. Advisors Asset Management Inc. increased its position in shares of SiTime by 33.6% during the 1st quarter. Advisors Asset Management Inc. now owns 350 shares of the company’s stock worth $54,000 after purchasing an additional 88 shares during the last quarter. AQR Capital Management LLC increased its position in shares of SiTime by 310.8% during the 1st quarter. AQR Capital Management LLC now owns 10,754 shares of the company’s stock worth $1,557,000 after purchasing an additional 8,136 shares during the last quarter. Intech Investment Management LLC increased its position in shares of SiTime by 21.6% during the 1st quarter. Intech Investment Management LLC now owns 8,322 shares of the company’s stock worth $1,272,000 after purchasing an additional 1,477 shares during the last quarter. Finally, M&T Bank Corp acquired a new stake in shares of SiTime during the 2nd quarter worth about $240,000. Hedge funds and other institutional investors own 84.31% of the company’s stock.

Insiders Place Their Bets

In related news, Director Akira Takata sold 1,500 shares of the company’s stock in a transaction on 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 transaction, the director owned 12,234 shares of the company’s stock, valued at $10,531,761.24. This represents a 10.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Fariborz Assaderaghi sold 1,709 shares of the company’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $731.49, for a total value of $1,250,116.41. Following the transaction, the insider directly owned 81,436 shares in the company, valued at $59,569,619.64. This represents a 2.06% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 74,624 shares of company stock valued at $52,399,813. 1.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

SITM has been the subject of a number of recent analyst reports. Roth Mkm reissued a “buy” rating and set a $900.00 price objective on shares of SiTime in a research report on Thursday, May 7th. Zacks Research raised SiTime from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 15th. Stifel Nicolaus boosted their price objective on SiTime from $450.00 to $500.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th. UBS Group boosted their price objective on SiTime from $675.00 to $775.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Finally, Needham & Company LLC boosted their target price on SiTime from $450.00 to $850.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $661.88.

SiTime Trading Down 1.1%

Shares of NASDAQ SITM opened at $677.21 on Thursday. SiTime Corporation has a twelve month low of $186.49 and a twelve month high of $901.81. The stock has a 50 day moving average of $638.97 and a two-hundred day moving average of $461.49. The stock has a market cap of $17.88 billion, a P/E ratio of -670.50 and a beta of 2.94.

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

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.