Osaic Holdings Inc. Increases Stock Holdings in SiTime Corporation $SITM

Osaic Holdings Inc. grew its stake in shares of SiTime Corporation (NASDAQ:SITM) by 3,957.0% during the second quarter, Holdings Channel reports. The firm owned 12,252 shares of the company’s stock after purchasing an additional 11,950 shares during the period. Osaic Holdings Inc.’s holdings in SiTime were worth $2,609,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of SITM. 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 buying an additional 47 shares during the last quarter. Advisors Asset Management Inc. boosted its stake in SiTime by 18.3% in the second quarter. Advisors Asset Management Inc. now owns 414 shares of the company’s stock valued at $88,000 after acquiring an additional 64 shares in the last quarter. White Pine Capital LLC boosted its stake in SiTime by 1.6% in the second quarter. White Pine Capital LLC now owns 5,376 shares of the company’s stock valued at $1,146,000 after acquiring an additional 83 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in SiTime by 35.6% in the second quarter. Smartleaf Asset Management LLC now owns 385 shares of the company’s stock valued at $82,000 after acquiring an additional 101 shares in the last quarter. Finally, Game Plan Financial Advisors LLC purchased a new position in shares of SiTime during the second quarter worth about $25,000. Institutional investors and hedge funds own 84.31% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on SITM shares. Loop Capital began coverage on SiTime in a report on Friday, November 21st. They issued a “buy” rating and a $350.00 target price for the company. The Goldman Sachs Group assumed coverage on SiTime in a research note on Monday, December 15th. They issued a “buy” rating and a $420.00 price objective for the company. Barclays raised their target price on shares of SiTime from $220.00 to $260.00 and gave the stock an “underweight” rating in a research report on Thursday, November 6th. Stifel Nicolaus set a $360.00 target price on shares of SiTime in a report on Thursday, November 6th. Finally, Needham & Company LLC increased their price target on shares of SiTime from $250.00 to $360.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. Seven investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $343.13.

SiTime Trading Down 0.3%

NASDAQ:SITM opened at $377.11 on Friday. SiTime Corporation has a 12-month low of $105.40 and a 12-month high of $387.52. The stock’s 50 day simple moving average is $315.12 and its 200-day simple moving average is $265.23. The firm has a market cap of $9.84 billion, a P/E ratio of -127.40 and a beta of 2.55.

SiTime (NASDAQ:SITM) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.16. The firm had revenue of $83.57 million for the quarter, compared to analyst estimates of $78.08 million. SiTime had a negative net margin of 25.18% and a negative return on equity of 5.69%. SiTime’s quarterly revenue was up 44.8% on a year-over-year basis. During the same period last year, the firm posted $0.40 EPS. Research analysts forecast that SiTime Corporation will post -2.44 EPS for the current fiscal year.

Insider Activity

In other SiTime news, EVP Elizabeth A. Howe sold 5,099 shares of SiTime stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $319.00, for a total value of $1,626,581.00. Following the sale, the executive vice president owned 59,070 shares of the company’s stock, valued at approximately $18,843,330. The trade was a 7.95% 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. Also, insider Fariborz Assaderaghi sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $291.58, for a total value of $437,370.00. Following the transaction, the insider owned 84,815 shares in the company, valued at $24,730,357.70. The trade was a 1.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 26,599 shares of company stock worth $8,267,891 in the last ninety days. 2.10% of the stock is currently owned by insiders.

SiTime Company 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.