Canada Pension Plan Investment Board purchased a new stake in SiTime Corporation (NASDAQ:SITM – Free Report) in the 2nd quarter, HoldingsChannel.com reports. The fund purchased 30,300 shares of the company’s stock, valued at approximately $22,590,000.
A number of other hedge funds have also recently made changes to their positions in the company. Castleark Management LLC bought a new position in shares of SiTime in the second quarter worth $1,291,000. Osterweis Capital Management Inc. bought a new stake in SiTime during the second quarter valued at $12,428,000. Nicholas Investment Partners LP bought a new stake in SiTime during the second quarter valued at $20,549,000. Legal & General Group Plc purchased a new position in SiTime during the second quarter worth about $22,696,000. Finally, The Manufacturers Life Insurance Company bought a new position in SiTime in the 2nd quarter worth about $11,831,000. 84.31% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities research analysts have issued reports on the stock. UBS Group lifted their target price on shares of SiTime from $775.00 to $840.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Roth Capital reissued a “buy” rating and issued a $900.00 price target on shares of SiTime in a report on Thursday, May 7th. Zacks Research upgraded shares of SiTime from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 13th. Wall Street Zen raised shares of SiTime from a “hold” rating to a “buy” rating in a report on Sunday, July 12th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $900.00 target price on shares of SiTime in a research report on Thursday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $761.25.
Insider Transactions at SiTime
In related news, Director Raman Chitkara sold 2,000 shares of the stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $727.38, for a total transaction of $1,454,760.00. Following the completion of the sale, the director directly owned 19,898 shares in the company, valued at $14,473,407.24. This represents a 9.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Christine Heckart sold 1,290 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $700.00, for a total value of $903,000.00. Following the transaction, the director owned 790 shares in the company, valued at approximately $553,000. The trade was a 62.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 66,840 shares of company stock valued at $47,960,638. 1.40% of the stock is currently owned by corporate insiders.
SiTime Price Performance
Shares of SiTime stock opened at $557.86 on Friday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 18.50 and a current ratio of 19.44. SiTime Corporation has a 52-week low of $222.12 and a 52-week high of $901.81. The company has a fifty day moving average of $620.85 and a 200-day moving average of $557.68. The stock has a market capitalization of $16.77 billion, a price-to-earnings ratio of 1,138.49 and a beta of 2.94.
SiTime (NASDAQ:SITM – Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $2.34 EPS for the quarter, topping analysts’ consensus estimates of $1.95 by $0.39. The company had revenue of $157.43 million for the quarter, compared to analysts’ expectations of $146.46 million. SiTime had a net margin of 3.01% and a return on equity of 4.99%. The firm’s revenue was up 126.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.47 EPS. SiTime has set its Q3 2026 guidance at 3.500-3.650 EPS. Equities research analysts expect that SiTime Corporation will post 6.33 EPS for the current year.
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.
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