SiTime Corporation $SITM Shares Acquired by Clough Capital Partners L P

Clough Capital Partners L P increased its stake in SiTime Corporation (NASDAQ:SITM) by 33.2% during the 4th quarter, Holdings Channel reports. The fund owned 4,871 shares of the company’s stock after purchasing an additional 1,213 shares during the quarter. Clough Capital Partners L P’s holdings in SiTime were worth $1,720,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Los Angeles Capital Management LLC raised its stake in SiTime by 0.3% in the fourth quarter. Los Angeles Capital Management LLC now owns 9,023 shares of the company’s stock valued at $3,187,000 after buying an additional 25 shares in the last quarter. Optiver Holding B.V. raised its stake in 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. raised its stake in SiTime by 1.6% in the fourth quarter. Atlas Brown Inc. now owns 2,292 shares of the company’s stock valued at $810,000 after buying an additional 37 shares in the last quarter. CWM LLC raised its stake in SiTime by 4.2% in the fourth quarter. CWM LLC now owns 951 shares of the company’s stock valued at $336,000 after buying an additional 38 shares in the last quarter. 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 in the last quarter. 84.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other SiTime news, insider Piyush B. Sevalia sold 2,419 shares of SiTime stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $40,781,212.50. The trade was a 2.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Fariborz Assaderaghi sold 1,709 shares of SiTime stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $731.49, for a total value of $1,250,116.41. Following the completion of the sale, the insider directly owned 81,436 shares in the company, valued at $59,569,619.64. This represents a 2.06% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 74,624 shares of company stock valued at $52,399,813. Insiders own 1.40% of the company’s stock.

Analysts Set New Price Targets

SITM has been the topic of a number of analyst reports. UBS Group raised their price target on SiTime from $675.00 to $775.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Stifel Nicolaus raised their price target on SiTime from $450.00 to $500.00 and gave the company a “buy” rating in a research note on Thursday, April 16th. The Goldman Sachs Group restated a “buy” rating and issued a $800.00 price target on shares of SiTime in a research note on Thursday, May 7th. Zacks Research upgraded SiTime from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 15th. Finally, Barclays upgraded SiTime from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $400.00 to $850.00 in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $661.88.

SiTime Stock Down 1.1%

NASDAQ SITM opened at $677.21 on Thursday. SiTime Corporation has a 52-week low of $186.49 and a 52-week high of $901.81. The business’s 50-day moving average price is $638.97 and its 200 day moving average price is $461.49. The firm has a market cap of $17.88 billion, a P/E ratio of -670.50 and a beta of 2.94.

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, topping analysts’ consensus estimates 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 firm had revenue of $113.57 million for the quarter, compared to analyst estimates of $103.51 million. During the same quarter last year, the company posted $0.26 earnings per share. The business’s revenue was up 88.3% on a year-over-year basis. As a group, analysts anticipate that SiTime Corporation will post 3.23 earnings per share 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.