Castleark Management LLC Has $11.85 Million Holdings in SiTime Corporation $SITM

by · The Markets Daily

Castleark Management LLC grew its position in SiTime Corporation (NASDAQ:SITM – Free Report) by 3.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 33,554 shares of the company’s stock after purchasing an additional 970 shares during the period. Castleark Management LLC’s holdings in SiTime were worth $11,851,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Advisors Asset Management Inc. grew its position in shares of SiTime by 29.7% in the fourth quarter. Advisors Asset Management Inc. now owns 695 shares of the company’s stock valued at $245,000 after purchasing an additional 159 shares during the last quarter. Hollencrest Capital Management raised its stake in SiTime by 952.2% in the 4th quarter. Hollencrest Capital Management now owns 705 shares of the company’s stock worth $249,000 after purchasing an additional 638 shares in the last quarter. Federation des caisses Desjardins du Quebec boosted its holdings in SiTime by 1,170.3% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 1,842 shares of the company’s stock valued at $651,000 after purchasing an additional 1,697 shares during the period. HRT Financial LP bought a new stake in SiTime in the 4th quarter valued at about $1,292,000. Finally, Cibc World Markets Corp bought a new stake in SiTime in the 4th quarter valued at about $504,000. Institutional investors and hedge funds own 84.31% of the company’s stock.

Insider Transactions at SiTime

In other SiTime news, Director Christine Heckart sold 1,290 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $700.00, for a total value of $903,000.00. Following the sale, the director owned 790 shares of the company’s stock, valued at approximately $553,000. This trade represents a 62.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Fariborz Assaderaghi sold 1,000 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $702.90, for a total value of $702,900.00. Following the completion of the sale, the insider directly owned 78,936 shares in the company, valued at approximately $55,484,114.40. This represents a 1.25% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 52,624 shares of company stock worth $35,942,053. 1.40% of the stock is owned by insiders.

Analysts Set New Price Targets

SITM has been the subject of a number of recent research reports. Wall Street Zen raised shares of SiTime from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Roth Mkm reissued a “buy” rating and set a $900.00 price target on shares of SiTime in a research report on Thursday, May 7th. Barclays raised SiTime from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $400.00 to $850.00 in a research report on Thursday, May 7th. The Goldman Sachs Group reissued a “buy” rating and set a $800.00 price target on shares of SiTime in a research report on Thursday, May 7th. Finally, Needham & Company LLC increased their price target on SiTime from $450.00 to $850.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $661.88.

View Our Latest Analysis on SITM

SiTime Stock Performance

Shares of SITM stock opened at $729.89 on Friday. The stock’s fifty day moving average price is $618.04 and its two-hundred day moving average price is $451.56. The company has a market cap of $19.27 billion, a PE ratio of -722.66 and a beta of 2.94. SiTime Corporation has a fifty-two week low of $186.49 and a fifty-two week high of $901.81.

SiTime (NASDAQ:SITM – Get Free Report) last issued its earnings results on Wednesday, May 6th. The company reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.30. The firm had revenue of $113.57 million for the quarter, compared to the consensus estimate of $103.51 million. SiTime had a positive return on equity of 0.53% and a negative net margin of 6.38%.The company’s revenue was up 88.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.26 EPS. On average, equities analysts predict that SiTime Corporation will post 3.23 EPS for the current fiscal year.

SiTime Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding SITM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SiTime Corporation (NASDAQ:SITM – Free Report).