Portolan Capital Management LLC Buys Shares of 15,503 SiTime Corporation $SITM

Portolan Capital Management LLC purchased a new stake in shares of SiTime Corporation (NASDAQ:SITM) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 15,503 shares of the company’s stock, valued at approximately $4,671,000.

A number of other large investors have also recently made changes to their positions in the stock. Hantz Financial Services Inc. lifted its position in SiTime by 190.3% during the third quarter. Hantz Financial Services Inc. now owns 90 shares of the company’s stock valued at $27,000 after purchasing an additional 59 shares during the period. Optiver Holding B.V. boosted its holdings in SiTime by 56.1% in the third quarter. Optiver Holding B.V. now owns 89 shares of the company’s stock worth $27,000 after purchasing an additional 32 shares during the last quarter. Salomon & Ludwin LLC bought a new stake in SiTime in the 3rd quarter worth approximately $47,000. Global Retirement Partners LLC grew its position in SiTime by 3,220.0% in the 3rd quarter. Global Retirement Partners LLC now owns 166 shares of the company’s stock worth $50,000 after purchasing an additional 161 shares during the period. Finally, Advisors Asset Management Inc. raised its stake in SiTime by 33.6% during the 1st quarter. Advisors Asset Management Inc. now owns 350 shares of the company’s stock valued at $54,000 after buying an additional 88 shares during the last quarter. 84.31% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

SITM has been the topic of several research analyst reports. Stifel Nicolaus set a $450.00 price target on SiTime in a report on Thursday, February 5th. The Goldman Sachs Group assumed coverage on SiTime in a research report on Monday, December 15th. They set a “buy” rating and a $420.00 price objective for the company. Raymond James Financial reissued an “outperform” rating on shares of SiTime in a report on Tuesday, December 2nd. Needham & Company LLC raised their target price on SiTime from $400.00 to $450.00 and gave the stock a “buy” rating in a research report on Thursday, February 5th. Finally, Barclays set a $400.00 price target on SiTime in a research note on Thursday, February 5th. Seven investment 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’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $409.38.

Insider Activity at SiTime

In related news, Director Akira Takata sold 3,500 shares of the business’s stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $431.73, for a total transaction of $1,511,055.00. Following the completion of the transaction, the director directly owned 13,734 shares in the company, valued at approximately $5,929,379.82. The trade was a 20.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Piyush B. Sevalia sold 566 shares of the stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $413.08, for a total transaction of $233,803.28. Following the completion of the sale, the insider directly owned 93,489 shares of the company’s stock, valued at $38,618,436.12. This represents a 0.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 23,263 shares of company stock worth $9,851,457 in the last quarter. 2.10% of the stock is currently owned by insiders.

SiTime Stock Performance

Shares of SiTime stock opened at $326.13 on Friday. The stock has a market cap of $8.58 billion, a P/E ratio of -179.19 and a beta of 2.53. The stock’s fifty day moving average is $375.58 and its 200 day moving average is $327.43. SiTime Corporation has a one year low of $105.40 and a one year high of $446.95.

SiTime (NASDAQ:SITM) last released its quarterly earnings results on Wednesday, February 4th. The company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.33. The business had revenue of $113.29 million during the quarter, compared to analyst estimates of $101.91 million. SiTime had a negative return on equity of 2.06% and a negative net margin of 13.13%.SiTime’s revenue for the quarter was up 66.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.48 earnings per share. Analysts predict that SiTime Corporation will post -2.44 EPS for the current year.

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.