Hanseatic Management Services Inc. Purchases Shares of 3,225 SiTime Corporation $SITM

Hanseatic Management Services Inc. acquired a new stake in SiTime Corporation (NASDAQ:SITM) in the first quarter, HoldingsChannel reports. The fund acquired 3,225 shares of the company’s stock, valued at approximately $1,114,000.

Other institutional investors also recently modified their holdings of the company. Los Angeles Capital Management LLC lifted its stake in SiTime by 0.3% in the 4th quarter. Los Angeles Capital Management LLC now owns 9,023 shares of the company’s stock valued at $3,187,000 after purchasing an additional 25 shares during the last quarter. Atlas Brown Inc. increased its position in SiTime by 1.6% during the fourth quarter. Atlas Brown Inc. now owns 2,292 shares of the company’s stock worth $810,000 after buying an additional 37 shares during the last quarter. CWM LLC increased its position in SiTime by 4.2% during the fourth quarter. CWM LLC now owns 951 shares of the company’s stock worth $336,000 after buying an additional 38 shares during the last quarter. Corient Private Wealth LLC raised its stake in SiTime by 5.9% in the fourth quarter. Corient Private Wealth LLC now owns 703 shares of the company’s stock valued at $249,000 after buying an additional 39 shares during the period. Finally, Lazard Asset Management LLC raised its stake in SiTime by 7.7% in the second quarter. Lazard Asset Management LLC now owns 654 shares of the company’s stock valued at $139,000 after buying an additional 47 shares during the period. 84.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at SiTime

In other news, Director Torsten Kreindl sold 710 shares of the business’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $720.00, for a total value of $511,200.00. Following the completion of the sale, the director owned 13,141 shares of the company’s stock, valued at approximately $9,461,520. The trade was a 5.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Rajesh Vashist sold 5,000 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $750.00, for a total transaction of $3,750,000.00. Following the completion of the transaction, the chief executive officer owned 9,781 shares in the company, valued at $7,335,750. This trade represents a 33.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 69,709 shares of company stock valued at $50,230,546. 1.40% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SITM. Weiss Ratings reiterated a “sell (d-)” rating on shares of SiTime in a research note on Tuesday, April 21st. Wall Street Zen upgraded SiTime from a “hold” rating to a “buy” rating in a research note on Sunday, July 12th. Zacks Research downgraded SiTime from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Roth Capital reaffirmed a “buy” rating and set a $900.00 price objective on shares of SiTime in a research report on Thursday, May 7th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $800.00 price objective on shares of SiTime in a report on Thursday, May 7th. Eight research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $661.88.

SiTime Trading Down 1.7%

Shares of NASDAQ SITM opened at $554.97 on Friday. The firm has a market cap of $14.65 billion, a P/E ratio of -549.48 and a beta of 2.91. The business’s 50 day moving average is $694.08 and its 200-day moving average is $506.38. SiTime Corporation has a 1-year low of $186.49 and a 1-year high of $901.81.

SiTime (NASDAQ:SITM) last released its quarterly earnings results on Wednesday, May 6th. The company reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $113.57 million during the quarter, compared to the consensus estimate of $103.51 million. During the same period in the previous year, the company posted $0.26 EPS. The firm’s quarterly revenue was up 88.3% on a year-over-year basis. Analysts forecast that SiTime Corporation will post 3.23 EPS 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.