ProShare Advisors LLC Acquires 2,469 Shares of SiTime Corporation $SITM

ProShare Advisors LLC increased its holdings in shares of SiTime Corporation (NASDAQ:SITM) by 282.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,344 shares of the company’s stock after buying an additional 2,469 shares during the quarter. ProShare Advisors LLC’s holdings in SiTime were worth $2,180,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of SITM. BlackRock Inc. acquired a new position in SiTime in the 2nd quarter valued at approximately $1,781,937,000. Bank of New York Mellon Corp raised its position in shares of SiTime by 5.4% in the first quarter. Bank of New York Mellon Corp now owns 372,943 shares of the company’s stock valued at $128,796,000 after purchasing an additional 18,983 shares during the period. Bank of America Corp DE lifted its stake in shares of SiTime by 53.7% in the first quarter. Bank of America Corp DE now owns 151,021 shares of the company’s stock worth $52,155,000 after buying an additional 52,754 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of SiTime by 865.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 79,178 shares of the company’s stock worth $27,344,000 after buying an additional 70,974 shares during the last quarter. Finally, Bamco Inc. NY acquired a new stake in shares of SiTime in the second quarter worth $52,341,000. 84.31% of the stock is owned by institutional investors and hedge funds.

SiTime Stock Performance

SITM stock traded up $61.92 during midday trading on Friday, hitting $416.92. The stock had a trading volume of 1,645,227 shares, compared to its average volume of 530,708. The firm has a market capitalization of $12.54 billion, a price-to-earnings ratio of 443.53 and a beta of 2.88. SiTime Corporation has a 52 week low of $243.68 and a 52 week high of $901.81. The stock has a 50-day simple moving average of $562.21 and a 200 day simple moving average of $546.27. The company has a current ratio of 19.44, a quick ratio of 18.50 and a debt-to-equity ratio of 1.29.

SiTime shares are going to split on Monday, December 7th. The 3-1 split was recently announced. The newly minted shares will be distributed to shareholders after the market closes on Sunday, December 6th.

SiTime (NASDAQ:SITM) last announced its quarterly earnings data on Wednesday, November 4th. The company reported $4.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.62 by $0.39. The company had revenue of $298.67 million during the quarter, compared to analysts’ expectations of $292.65 million. SiTime had a net margin of 3.01% and a return on equity of 4.99%. The business’s revenue was up 257.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.87 EPS. As a group, equities research analysts anticipate that SiTime Corporation will post 6.37 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently commented on SITM shares. Raymond James Financial upgraded shares of SiTime from an “outperform” rating to a “strong-buy” rating in a report on Friday. Roth Capital assumed coverage on SiTime in a report on Friday. They issued a “buy” rating on the stock. Citigroup downgraded SiTime to a “neutral” rating in a research report on Friday. Guggenheim assumed coverage on SiTime in a report on Friday. They set a “buy” rating for the company. Finally, Wall Street Zen cut SiTime from a “buy” rating to a “hold” rating in a research report on Saturday. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $687.00.

Insider Buying and Selling

In related news, CEO Rajesh Vashist sold 12,000 shares of the business’s stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $603.47, for a total value of $7,241,640.00. Following the sale, the chief executive officer owned 345,544 shares of the company’s stock, valued at $208,525,437.68. The trade was a 3.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 value of $745,000.00. Following the completion of the sale, the director owned 10,999 shares in the company, valued at $8,194,255. This trade represents a 8.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 14,874 shares of company stock valued at $9,298,908 over the last ninety days. Company insiders own 1.40% of the company’s stock.

Key Headlines Impacting SiTime

Here are the key news stories impacting SiTime this week:

• Positive Sentiment: Seaport Global upgraded SiTime to Buy from Neutral and set a $425 price target, helping lift sentiment after the stock’s post-earnings pullback. SiTime shares surge as Seaport upgrades to Buy
• Positive Sentiment: Third-quarter results beat expectations: SiTime reported adjusted EPS of $4.01 versus the cited $3.62 consensus and revenue of $298.67 million versus $292.65 million. Revenue rose 257.4% year over year, with AI infrastructure demand and the Renesas timing acquisition contributing to growth. SiTime Q3 earnings surpass estimates
• Positive Sentiment: Needham initiated coverage with a Buy rating and a $600 price target, adding another bullish analyst view. Needham analyst recommendations
• Positive Sentiment: Management highlighted AI-driven growth and expanding optical-networking opportunities, while reporting a 70.7% gross margin. Q3 call highlights AI demand and supply constraints
• Neutral Sentiment: UBS maintained its Buy rating but cut its price target to $650 from $750, tempering the analyst outlook even as the rating remained positive. UBS analyst recommendations
• Negative Sentiment: Wafer supply constraints are expected to persist through 2027, potentially limiting SiTime’s ability to meet demand and convert its growth opportunities into sales. Q3 call highlights AI demand and supply constraints

About SiTime

SiTime Corporation (NASDAQ: SITM) develops and supplies precision timing solutions for electronic systems. Its products are designed to generate, distribute and maintain accurate timing signals, which help connected devices and infrastructure operate reliably and efficiently.

The company’s portfolio includes silicon MEMS-based resonators and oscillators, clock generators, clock synchronizers, jitter attenuators and other timing components. These products are used in applications such as data centers, telecommunications and networking equipment, automotive systems, industrial machinery, aerospace and defense electronics, and consumer devices.

SiTime’s technology is intended to address demanding requirements for frequency stability, signal integrity, power efficiency and resilience in challenging operating environments.