SiTime Corporation $SITM Stock Bought by Profund Advisors LLC

Profund Advisors LLC increased its position in SiTime Corporation (NASDAQ:SITM) by 225.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,640 shares of the company’s stock after buying an additional 1,136 shares during the period. Profund Advisors LLC’s holdings in SiTime were worth $1,069,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in SiTime during the 2nd quarter worth approximately $1,781,937,000. Bank of New York Mellon Corp bought a new position in SiTime in the second quarter worth approximately $123,264,000. Arrowstreet Capital Limited Partnership grew its stake in SiTime by 865.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 79,178 shares of the company’s stock valued at $27,344,000 after acquiring an additional 70,974 shares during the period. Bamco Inc. NY acquired a new stake in SiTime in the second quarter valued at approximately $52,341,000. Finally, TimesSquare Capital Management LLC bought a new stake in shares of SiTime during the second quarter valued at approximately $48,194,000. 84.31% of the stock is owned by institutional investors.

SiTime Trading Up 6.5%

Shares of SiTime stock opened at $444.88 on Wednesday. The company has a market capitalization of $13.38 billion, a P/E ratio of 213.21 and a beta of 2.88. The stock has a fifty day simple moving average of $574.53 and a 200 day simple moving average of $545.83. SiTime Corporation has a 12-month low of $243.68 and a 12-month high of $901.81. The company has a current ratio of 19.44, a quick ratio of 18.50 and a debt-to-equity ratio of 1.29.

SiTime (NASDAQ:SITM) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $2.34 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.39. The business had revenue of $157.43 million for the quarter, compared to analysts’ expectations of $146.46 million. SiTime had a return on equity of 4.99% and a net margin of 3.01%. The business’s revenue was up 126.5% on a year-over-year basis. During the same period last year, the business earned $0.47 EPS. On average, sell-side analysts anticipate that SiTime Corporation will post 6.37 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Wall Street Zen raised SiTime from a “hold” rating to a “buy” rating in a research report on Saturday, October 17th. UBS Group increased their target price on SiTime from $775.00 to $840.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Benchmark started coverage on shares of SiTime in a research report on Wednesday, August 19th. They issued a “buy” rating and a $850.00 price target for the company. Weiss Ratings lowered shares of SiTime from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, October 23rd. Finally, The Goldman Sachs Group restated a “buy” rating and set a $900.00 price objective on shares of SiTime in a report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, SiTime has an average rating of “Moderate Buy” and an average price target of $736.00.

Insider Transactions at SiTime

In other news, Director Katherine Schuelke sold 500 shares of the company’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $698.05, for a total value of $349,025.00. Following the completion of the sale, the director owned 12,010 shares in the company, valued at $8,383,580.50. This represents a 4.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Fariborz Assaderaghi sold 1,374 shares of the stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $701.05, for a total transaction of $963,242.70. Following the completion of the sale, the insider owned 66,861 shares of the company’s stock, valued at approximately $46,872,904.05. This represents a 2.01% decrease in their position. 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. Over the last 90 days, insiders have sold 15,924 shares of company stock worth $10,056,661. 1.40% of the stock is owned by insiders.

About SiTime

SiTime Corporation (NASDAQ: SITM) develops and supplies precision timing solutions for electronic systems. Its products are designed to generate, distribute and maintain accurate timing signals, which help connected devices and infrastructure operate reliably and efficiently.

The company’s portfolio includes silicon MEMS-based resonators and oscillators, clock generators, clock synchronizers, jitter attenuators and other timing components. These products are used in applications such as data centers, telecommunications and networking equipment, automotive systems, industrial machinery, aerospace and defense electronics, and consumer devices.

SiTime’s technology is intended to address demanding requirements for frequency stability, signal integrity, power efficiency and resilience in challenging operating environments.