Wasatch Advisors LP cut its holdings in SiTime Corporation (NASDAQ:SITM – Free Report) by 70.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,713 shares of the company’s stock after selling 20,384 shares during the period. Wasatch Advisors LP’s holdings in SiTime were worth $6,496,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of SiTime by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 2,825,402 shares of the company’s stock worth $997,904,000 after purchasing an additional 61,336 shares in the last quarter. Invesco Ltd. lifted its position in SiTime by 1.8% during the third quarter. Invesco Ltd. now owns 1,037,305 shares of the company’s stock valued at $312,550,000 after purchasing an additional 18,165 shares in the last quarter. State Street Corp lifted its position in SiTime by 3.7% during the second quarter. State Street Corp now owns 911,280 shares of the company’s stock valued at $194,176,000 after purchasing an additional 32,178 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in SiTime by 22.0% during the second quarter. Ameriprise Financial Inc. now owns 736,281 shares of the company’s stock valued at $156,887,000 after purchasing an additional 132,948 shares during the period. Finally, Whale Rock Capital Management LLC grew its holdings in SiTime by 45.4% during the fourth quarter. Whale Rock Capital Management LLC now owns 698,539 shares of the company’s stock valued at $246,717,000 after purchasing an additional 218,038 shares during the period. Hedge funds and other institutional investors own 84.31% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research analysts have recently commented on the company. UBS Group raised their price objective on SiTime from $775.00 to $840.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Roth Capital reiterated a “buy” rating and set a $900.00 price objective on shares of SiTime in a research note on Thursday, May 7th. Wall Street Zen raised shares of SiTime from a “hold” rating to a “buy” rating in a report on Sunday, July 12th. Needham & Company LLC raised their target price on shares of SiTime from $850.00 to $900.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $900.00 price target on shares of SiTime in a report on Thursday, August 6th. Eight investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $688.75.
Insider Activity
In other SiTime news, Director Torsten Kreindl sold 1,050 shares of SiTime stock in a transaction on Friday, August 7th. The shares were sold at an average price of $721.67, for a total value of $757,753.50. Following the sale, the director directly owned 12,481 shares in the company, valued at approximately $9,007,163.27. The trade was a 7.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Raman Chitkara sold 2,000 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $727.38, for a total transaction of $1,454,760.00. Following the transaction, the director directly owned 19,898 shares of the company’s stock, valued at $14,473,407.24. This trade represents a 9.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 69,759 shares of company stock valued at $50,046,035. Company insiders own 1.40% of the company’s stock.
SiTime Trading Up 2.0%
Shares of SITM stock opened at $680.52 on Thursday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 18.50 and a current ratio of 19.44. The stock has a fifty day simple moving average of $635.71 and a two-hundred day simple moving average of $536.59. The firm has a market capitalization of $20.46 billion, a PE ratio of 1,388.82 and a beta of 2.94. SiTime Corporation has a 52-week low of $204.60 and a 52-week high of $901.81.
SiTime (NASDAQ:SITM – Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $2.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.95 by $0.39. The firm had revenue of $157.43 million during the quarter, compared to analyst estimates of $146.46 million. SiTime had a return on equity of 4.99% and a net margin of 3.01%.The business’s quarterly revenue was up 126.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.47 earnings per share. SiTime has set its Q3 2026 guidance at 3.500-3.650 EPS. On average, analysts predict that SiTime Corporation will post 3.23 EPS for the current fiscal year.
SiTime 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.
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