SiTime Corporation $SITM Stock Sold by Lisanti Capital Growth LLC

Lisanti Capital Growth LLC decreased its holdings in SiTime Corporation (NASDAQ:SITM) by 53.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,480 shares of the company’s stock after selling 1,725 shares during the period. Lisanti Capital Growth LLC’s holdings in SiTime were worth $965,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Root Financial Partners LLC acquired a new stake in shares of SiTime during the third quarter worth approximately $25,000. Parallel Advisors LLC grew its position in SiTime by 26.2% during the first quarter. Parallel Advisors LLC now owns 77 shares of the company’s stock valued at $27,000 after purchasing an additional 16 shares in the last quarter. USA Financial Formulas purchased a new position in SiTime during the first quarter valued at approximately $33,000. V Square Quantitative Management LLC acquired a new position in SiTime in the 3rd quarter valued at approximately $35,000. Finally, Optiver Holding B.V. increased its stake in SiTime by 433.3% in the 1st quarter. Optiver Holding B.V. now owns 128 shares of the company’s stock valued at $44,000 after buying an additional 104 shares during the period. Institutional investors and hedge funds own 84.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Wall Street Zen downgraded shares of SiTime from a “buy” rating to a “hold” rating in a research report on Saturday, November 7th. Zacks Research lowered shares of SiTime from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 5th. Seaport Research Partners upgraded SiTime from a “neutral” rating to a “buy” rating and set a $425.00 target price on the stock in a research note on Friday, November 6th. Guggenheim assumed coverage on SiTime in a research note on Friday, November 6th. They issued a “buy” rating for the company. Finally, Citigroup cut SiTime to a “neutral” rating in a research note on Friday, November 6th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $687.00.

Insider Transactions at SiTime

In related news, Director Edward Frank sold 1,000 shares of the company’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $745.00, for a total transaction of $745,000.00. Following the completion of the sale, the director directly owned 10,999 shares of the company’s stock, valued at approximately $8,194,255. This represents a 8.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Rajesh Vashist sold 12,000 shares of the firm’s stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $603.47, for a total transaction of $7,241,640.00. Following the completion of the transaction, the chief executive officer owned 345,544 shares in the company, valued at $208,525,437.68. The trade was a 3.36% 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 14,374 shares of company stock worth $8,949,883. 1.40% of the stock is owned by insiders.

SiTime Stock Performance

Shares of NASDAQ SITM opened at $472.56 on Thursday. The business’s 50-day simple moving average is $556.17 and its 200-day simple moving average is $547.72. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.62 and a current ratio of 5.56. SiTime Corporation has a 52 week low of $243.68 and a 52 week high of $901.81. The firm has a market cap of $14.28 billion, a price-to-earnings ratio of 502.72 and a beta of 2.88.

Shares of SiTime are set to split before the market opens on Monday, December 7th. The 3-1 split was recently announced. The newly minted shares will be payable to shareholders after the closing bell on Sunday, December 6th.

SiTime (NASDAQ:SITM) last announced its quarterly earnings results on Wednesday, November 4th. The company reported $4.01 EPS for the quarter, beating the consensus estimate of $3.62 by $0.39. SiTime had a return on equity of 9.07% and a net margin of 3.87%. The company had revenue of $298.67 million for the quarter, compared to the consensus estimate of $292.65 million. During the same quarter last year, the company posted $0.87 earnings per share. The company’s revenue for the quarter was up 257.4% compared to the same quarter last year. As a group, equities research analysts expect that SiTime Corporation will post 6.37 earnings per share for the current fiscal year.

SiTime Company Profile

SiTime Corporation develops silicon-based timing solutions using microelectromechanical systems (MEMS) technology. Its products include MEMS resonators, oscillators and clock generators, which provide timing signals used to synchronize electronic systems. The company’s components serve applications across communications, data centers, automotive, industrial, aerospace and defense, and consumer electronics. SiTime sells its products to customers and partners worldwide. Founded in 2005, SiTime became part of Japan’s MegaChips in 2014 and later became a publicly traded company.