Kornitzer Capital Management Inc. KS Acquires 1,312 Shares of SiTime Corporation $SITM

Kornitzer Capital Management Inc. KS increased its position in shares of SiTime Corporation (NASDAQ:SITM) by 7.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 19,017 shares of the company’s stock after acquiring an additional 1,312 shares during the period. Kornitzer Capital Management Inc. KS owned about 0.07% of SiTime worth $6,717,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Rakuten Securities Inc. grew its position in SiTime by 188.5% during the 4th quarter. Rakuten Securities Inc. now owns 75 shares of the company’s stock worth $26,000 after acquiring an additional 49 shares during the last quarter. Optiver Holding B.V. grew its position in SiTime by 56.1% during the 3rd quarter. Optiver Holding B.V. now owns 89 shares of the company’s stock worth $27,000 after acquiring an additional 32 shares during the last quarter. Hantz Financial Services Inc. grew its position in SiTime by 190.3% during the 3rd quarter. Hantz Financial Services Inc. now owns 90 shares of the company’s stock worth $27,000 after acquiring an additional 59 shares during the last quarter. Larson Financial Group LLC grew its position in SiTime by 3,200.0% during the 3rd quarter. Larson Financial Group LLC now owns 99 shares of the company’s stock worth $30,000 after acquiring an additional 96 shares during the last quarter. Finally, Danske Bank A S bought a new stake in SiTime during the 4th quarter worth $35,000. Institutional investors own 84.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Wall Street Zen lowered SiTime from a “buy” rating to a “hold” rating in a research report on Saturday, April 11th. UBS Group boosted their price objective on SiTime from $430.00 to $485.00 and gave the stock a “buy” rating in a research report on Thursday, February 5th. Barclays set a $400.00 price objective on SiTime in a research report on Thursday, February 5th. Needham & Company LLC boosted their price objective on SiTime from $400.00 to $450.00 and gave the stock a “buy” rating in a research report on Thursday, February 5th. Finally, Roth Mkm restated a “buy” rating and set a $450.00 price objective on shares of SiTime in a research report on Thursday, February 5th. Seven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, SiTime presently has a consensus rating of “Moderate Buy” and an average price target of $415.63.

SiTime Trading Down 0.6%

NASDAQ SITM opened at $558.63 on Friday. The business’s 50-day moving average price is $406.34 and its two-hundred day moving average price is $361.91. SiTime Corporation has a 12 month low of $158.63 and a 12 month high of $591.13. The firm has a market capitalization of $14.75 billion, a PE ratio of -306.94 and a beta of 2.91.

SiTime (NASDAQ:SITM) last released its quarterly earnings results on Wednesday, February 4th. The company reported $1.53 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.33. SiTime had a negative return on equity of 2.06% and a negative net margin of 13.13%.The firm had revenue of $113.29 million for the quarter, compared to analyst estimates of $101.91 million. During the same quarter in the previous year, the company posted $0.48 EPS. The business’s revenue was up 66.3% on a year-over-year basis. As a group, analysts forecast that SiTime Corporation will post 1.31 earnings per share for the current fiscal year.

Insider Transactions at SiTime

In other SiTime news, insider Piyush B. Sevalia sold 2,419 shares of the company’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $484.05, for a total value of $1,170,916.95. Following the sale, the insider owned 84,250 shares in the company, valued at approximately $40,781,212.50. The trade was a 2.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Fariborz Assaderaghi sold 4,984 shares of the company’s stock in a transaction dated 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 $36,252,901.30. This trade represents a 5.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 26,178 shares of company stock worth $11,282,324. 2.10% of the stock is currently owned by insiders.

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.