Vanguard Group Inc. Has $832.84 Million Position in SiTime Corporation $SITM

Vanguard Group Inc. increased its position in shares of SiTime Corporation (NASDAQ:SITM) by 4.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,764,066 shares of the company’s stock after buying an additional 123,287 shares during the quarter. Vanguard Group Inc. owned 10.63% of SiTime worth $832,841,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. State of New Jersey Common Pension Fund D raised its holdings in shares of SiTime by 2.9% in the third quarter. State of New Jersey Common Pension Fund D now owns 9,500 shares of the company’s stock valued at $2,862,000 after purchasing an additional 269 shares during the last quarter. PNC Financial Services Group Inc. grew its position in SiTime by 29.6% in the third quarter. PNC Financial Services Group Inc. now owns 2,137 shares of the company’s stock valued at $644,000 after purchasing an additional 488 shares in the last quarter. HighTower Advisors LLC increased its stake in SiTime by 95.8% in the 3rd quarter. HighTower Advisors LLC now owns 30,368 shares of the company’s stock valued at $9,151,000 after buying an additional 14,859 shares during the last quarter. TimesSquare Capital Management LLC lifted its position in SiTime by 455.2% during the 3rd quarter. TimesSquare Capital Management LLC now owns 131,700 shares of the company’s stock worth $39,683,000 after buying an additional 107,980 shares in the last quarter. Finally, Public Sector Pension Investment Board boosted its stake in shares of SiTime by 19.7% during the 3rd quarter. Public Sector Pension Investment Board now owns 85,194 shares of the company’s stock worth $25,670,000 after buying an additional 14,008 shares during the last quarter. Institutional investors own 84.31% of the company’s stock.

SiTime Trading Up 2.6%

SITM opened at $406.97 on Monday. SiTime Corporation has a 1-year low of $105.40 and a 1-year high of $446.95. The stock’s fifty day simple moving average is $372.94 and its 200 day simple moving average is $312.33. The stock has a market cap of $10.70 billion, a PE ratio of -223.61 and a beta of 2.51.

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

Insider Buying and Selling at SiTime

In related news, Director Akira Takata sold 3,500 shares of the company’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $431.73, for a total value of $1,511,055.00. Following the transaction, the director directly owned 13,734 shares in the company, valued at approximately $5,929,379.82. This represents a 20.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Samsheer Ahamad sold 9,100 shares of the firm’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $441.47, for a total transaction of $4,017,377.00. Following the transaction, the insider directly owned 52,938 shares in the company, valued at $23,370,538.86. This represents a 14.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 25,278 shares of company stock worth $9,796,580 in the last ninety days. Insiders own 2.30% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on SITM. Barclays set a $400.00 target price on SiTime in a research report on Thursday, February 5th. Raymond James Financial reaffirmed an “outperform” rating on shares of SiTime in a research report on Tuesday, December 2nd. Wall Street Zen raised SiTime from a “hold” rating to a “buy” rating in a report on Saturday, February 14th. Weiss Ratings restated a “sell (d-)” rating on shares of SiTime in a report on Thursday, January 22nd. Finally, Needham & Company LLC increased their price target on shares of SiTime from $400.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday, February 5th. Seven 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 stock. Based on data from MarketBeat, SiTime presently has an average rating of “Moderate Buy” and an average price target of $409.38.

About SiTime

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.