Counterpoint Mutual Funds LLC Makes New Investment in SiTime Corporation $SITM

Counterpoint Mutual Funds LLC bought a new stake in shares of SiTime Corporation (NASDAQ:SITM) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,663 shares of the company’s stock, valued at approximately $574,000.

Other large investors also recently added to or reduced their stakes in the company. Rakuten Securities Inc. boosted its position in shares of SiTime by 188.5% in the fourth quarter. Rakuten Securities Inc. now owns 75 shares of the company’s stock worth $26,000 after buying an additional 49 shares during the period. Larson Financial Group LLC raised its position in SiTime by 3,200.0% during the third quarter. Larson Financial Group LLC now owns 99 shares of the company’s stock valued at $30,000 after buying an additional 96 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in SiTime during the fourth quarter valued at $33,000. Danske Bank A S acquired a new position in SiTime during the fourth quarter valued at $35,000. Finally, Bernard Wealth Management Corp. purchased a new stake in SiTime in the 4th quarter worth about $41,000. 84.31% of the stock is owned by institutional investors and hedge funds.

SiTime Stock Performance

Shares of NASDAQ:SITM opened at $601.66 on Friday. SiTime Corporation has a 1 year low of $186.49 and a 1 year high of $901.81. The business has a fifty day simple moving average of $695.57 and a 200 day simple moving average of $489.90. The firm has a market cap of $15.88 billion, a price-to-earnings ratio of -595.70 and a beta of 2.91.

SiTime (NASDAQ:SITM) last released its quarterly earnings data on Wednesday, May 6th. The company reported $1.44 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $103.51 million. During the same quarter last year, the firm earned $0.26 earnings per share. The business’s revenue for the quarter was up 88.3% on a year-over-year basis. On average, sell-side analysts forecast that SiTime Corporation will post 3.23 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Roth Mkm restated a “buy” rating and set a $900.00 price objective on shares of SiTime in a research report on Thursday, May 7th. Barclays upgraded SiTime from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $400.00 to $850.00 in a report on Thursday, May 7th. Needham & Company LLC increased their price target on shares of SiTime from $450.00 to $850.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Weiss Ratings restated a “sell (d-)” rating on shares of SiTime in a report on Tuesday, April 21st. Finally, Stifel Nicolaus boosted their price objective on shares of SiTime from $450.00 to $500.00 and gave the company a “buy” rating in a research report on Thursday, April 16th. One research 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 company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $661.88.

Insider Activity at SiTime

In other news, Director Christine Heckart sold 1,290 shares of SiTime stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $700.00, for a total transaction of $903,000.00. Following the completion of the sale, the director directly owned 790 shares in the company, valued at $553,000. The trade was a 62.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Torsten Kreindl sold 710 shares of SiTime stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $720.00, for a total value of $511,200.00. Following the sale, the director owned 13,141 shares of the company’s stock, valued at approximately $9,461,520. This represents a 5.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 73,375 shares of company stock worth $51,931,438. 1.40% of the stock is currently owned by corporate insiders.

SiTime 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.