Zurcher Kantonalbank Zurich Cantonalbank Purchases 1,810 Shares of SiTime Corporation $SITM

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in SiTime Corporation (NASDAQ:SITM) by 66.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,520 shares of the company’s stock after purchasing an additional 1,810 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in SiTime were worth $1,596,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Optiver Holding B.V. lifted its stake in shares of SiTime by 56.1% in the third quarter. Optiver Holding B.V. now owns 89 shares of the company’s stock valued at $27,000 after buying an additional 32 shares in the last quarter. Atlas Brown Inc. increased its position in shares of 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 acquiring an additional 37 shares in the last quarter. CWM LLC raised its holdings in shares of SiTime by 4.2% in the 4th quarter. CWM LLC now owns 951 shares of the company’s stock worth $336,000 after acquiring an additional 38 shares during the last quarter. Verdence Capital Advisors LLC lifted its position in SiTime by 3.7% in the 3rd quarter. Verdence Capital Advisors LLC now owns 1,118 shares of the company’s stock valued at $309,000 after acquiring an additional 40 shares in the last quarter. Finally, Bessemer Group Inc. lifted its position in SiTime by 27.4% in the 3rd quarter. Bessemer Group Inc. now owns 186 shares of the company’s stock valued at $55,000 after acquiring an additional 40 shares in the last quarter. Institutional investors own 84.31% of the company’s stock.

Insiders Place Their Bets

In other SiTime news, Director Raman Chitkara sold 501 shares of the business’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $425.03, for a total value of $212,940.03. Following the transaction, the director directly owned 21,508 shares in the company, valued at $9,141,545.24. The trade was a 2.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Samsheer Ahamad sold 9,100 shares of the firm’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $441.47, for a total transaction of $4,017,377.00. Following the sale, the insider owned 52,938 shares of the company’s stock, valued at approximately $23,370,538.86. The trade was a 14.67% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 26,178 shares of company stock valued at $11,282,324. Company insiders own 2.30% of the company’s stock.

SiTime Price Performance

Shares of NASDAQ:SITM opened at $515.67 on Wednesday. SiTime Corporation has a 1 year low of $138.74 and a 1 year high of $591.13. The company has a market capitalization of $13.61 billion, a PE ratio of -283.34 and a beta of 2.57. The business has a fifty day moving average price of $400.70 and a two-hundred day moving average price of $358.86.

SiTime (NASDAQ:SITM) last released its earnings results on Wednesday, February 4th. The company reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.33. The company had revenue of $113.29 million for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the previous year, the business posted $0.48 EPS. Sell-side analysts anticipate that SiTime Corporation will post 1.31 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on SITM. Stifel Nicolaus boosted their price objective on SiTime from $450.00 to $500.00 and gave the stock a “buy” rating in a report on Thursday, April 16th. Wall Street Zen lowered SiTime from a “buy” rating to a “hold” rating in a report on Saturday, April 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of SiTime in a report on Tuesday, April 21st. Needham & Company LLC increased their price target on SiTime from $400.00 to $450.00 and gave the company a “buy” rating in a research report on Thursday, February 5th. Finally, Barclays set a $400.00 price objective on SiTime in a research note on Thursday, February 5th. Seven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, SiTime currently has an average rating of “Moderate Buy” and a consensus target price of $415.63.

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.