Geode Capital Management LLC Has $190.55 Million Holdings in SiTime Corporation $SITM

Geode Capital Management LLC boosted its holdings in SiTime Corporation (NASDAQ:SITM) by 3.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 539,425 shares of the company’s stock after acquiring an additional 15,850 shares during the quarter. Geode Capital Management LLC’s holdings in SiTime were worth $190,550,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Rakuten Securities Inc. grew its holdings in shares of SiTime by 188.5% during the fourth quarter. Rakuten Securities Inc. now owns 75 shares of the company’s stock worth $26,000 after purchasing an additional 49 shares during the last quarter. Hantz Financial Services Inc. grew its holdings in shares of SiTime by 190.3% during the third quarter. Hantz Financial Services Inc. now owns 90 shares of the company’s stock worth $27,000 after purchasing an additional 59 shares during the last quarter. Optiver Holding B.V. grew its holdings in shares of SiTime by 56.1% during the third quarter. Optiver Holding B.V. now owns 89 shares of the company’s stock worth $27,000 after purchasing an additional 32 shares during the last quarter. Larson Financial Group LLC grew its holdings in shares of SiTime by 3,200.0% during the third quarter. Larson Financial Group LLC now owns 99 shares of the company’s stock worth $30,000 after purchasing an additional 96 shares during the last quarter. Finally, Danske Bank A S bought a new stake in shares of SiTime during the fourth quarter worth about $35,000. 84.31% of the stock is currently owned by institutional investors.

SiTime Price Performance

SiTime stock opened at $712.75 on Thursday. The stock’s 50 day moving average is $570.24 and its 200 day moving average is $432.38. The firm has a market cap of $18.82 billion, a P/E ratio of -705.69 and a beta of 2.94. SiTime Corporation has a one year low of $186.49 and a one year high of $901.81.

SiTime (NASDAQ:SITM) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.30. The company had revenue of $113.57 million for the quarter, compared to analyst estimates of $103.51 million. SiTime had a positive return on equity of 0.53% and a negative net margin of 6.38%.The firm’s quarterly revenue was up 88.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.26 earnings per share. Equities analysts anticipate that SiTime Corporation will post 3.23 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Needham & Company LLC boosted their price target on SiTime from $450.00 to $850.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Stifel Nicolaus boosted their price target on SiTime from $450.00 to $500.00 and gave the stock a “buy” rating in a report on Thursday, April 16th. The Goldman Sachs Group restated a “buy” rating and set a $800.00 price target on shares of SiTime in a report on Thursday, May 7th. Wall Street Zen upgraded SiTime from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of SiTime in a report on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $661.88.

Insider Buying and Selling

In related news, insider Fariborz Assaderaghi sold 1,709 shares of SiTime stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $731.49, for a total value of $1,250,116.41. Following the transaction, the insider directly owned 81,436 shares of the company’s stock, valued at $59,569,619.64. The trade was a 2.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Akira Takata sold 1,500 shares of SiTime stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $860.86, for a total value of $1,291,290.00. Following the completion of the transaction, the director directly owned 12,234 shares in the company, valued at approximately $10,531,761.24. This represents a 10.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 10,334 shares of company stock valued at $6,290,953 in the last ninety days. Insiders own 1.40% of the company’s stock.

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.