Fortress Investment Group LLC Has $30.13 Million Stock Holdings in SiTime Corporation $SITM

Fortress Investment Group LLC lessened its holdings in shares of SiTime Corporation (NASDAQ:SITM) by 3.9% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 100,000 shares of the company’s stock after selling 4,100 shares during the quarter. SiTime makes up 4.0% of Fortress Investment Group LLC’s portfolio, making the stock its 5th biggest position. Fortress Investment Group LLC’s holdings in SiTime were worth $30,131,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SITM. Optiver Holding B.V. increased its holdings in shares of 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 acquiring an additional 32 shares in the last quarter. Verdence Capital Advisors LLC raised its position in shares of SiTime by 3.7% during the third quarter. Verdence Capital Advisors LLC now owns 1,118 shares of the company’s stock worth $309,000 after purchasing an additional 40 shares during the period. Bessemer Group Inc. lifted its holdings in shares of SiTime by 27.4% during the 3rd quarter. Bessemer Group Inc. now owns 186 shares of the company’s stock valued at $55,000 after purchasing an additional 40 shares in the last quarter. Smartleaf Asset Management LLC grew its position in shares of SiTime by 10.9% in the 3rd quarter. Smartleaf Asset Management LLC now owns 427 shares of the company’s stock valued at $125,000 after purchasing an additional 42 shares during the period. Finally, Lazard Asset Management LLC grew its position in shares of SiTime by 7.7% in the 2nd quarter. Lazard Asset Management LLC now owns 654 shares of the company’s stock valued at $139,000 after purchasing an additional 47 shares during the period. 84.31% of the stock is currently owned by institutional investors.

Insider Buying and Selling at SiTime

In related news, insider Samsheer Ahamad sold 9,100 shares of the firm’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $441.47, for a total value of $4,017,377.00. Following the completion of the transaction, the insider owned 52,938 shares of the company’s stock, valued at approximately $23,370,538.86. This trade represents a 14.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Rajesh Vashist sold 2,000 shares of SiTime stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $369.20, for a total transaction of $738,400.00. Following the completion of the sale, the chief executive officer owned 431,609 shares in the company, valued at $159,350,042.80. The trade was a 0.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 23,263 shares of company stock valued at $9,851,457 in the last three months. 2.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on SITM. Raymond James Financial restated an “outperform” rating on shares of SiTime in a report on Tuesday, December 2nd. Needham & Company LLC upped their price target on shares of SiTime from $400.00 to $450.00 and gave the company a “buy” rating in a report on Thursday, February 5th. Barclays set a $400.00 price objective on shares of SiTime in a report on Thursday, February 5th. Loop Capital started coverage on shares of SiTime in a research report on Friday, November 21st. They issued a “buy” rating and a $350.00 price objective on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SiTime in a research note on Thursday, January 22nd. Seven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $409.38.

SiTime Stock Performance

NASDAQ SITM opened at $326.13 on Monday. SiTime Corporation has a 52 week low of $105.40 and a 52 week high of $446.95. The stock’s 50 day moving average price is $375.58 and its two-hundred day moving average price is $328.63. The stock has a market capitalization of $8.58 billion, a price-to-earnings ratio of -179.19 and a beta of 2.53.

SiTime (NASDAQ:SITM) last issued its quarterly earnings results on Wednesday, February 4th. The company reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.33. SiTime had a negative net margin of 13.13% and a negative return on equity of 2.06%. The company had revenue of $113.29 million during the quarter, compared to analysts’ expectations of $101.91 million. During the same period last year, the business earned $0.48 EPS. The business’s quarterly revenue was up 66.3% on a year-over-year basis. On average, equities research analysts forecast that SiTime Corporation will post -2.44 EPS for the current year.

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.