Jefferies Financial Group Inc. Purchases New Holdings in SiTime Corporation $SITM

Jefferies Financial Group Inc. purchased a new position in shares of SiTime Corporation (NASDAQ:SITMFree Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,527 shares of the company’s stock, valued at approximately $10,085,000.

A number of other hedge funds have also recently added to or reduced their stakes in SITM. Vanguard Group Inc. lifted its position in shares of SiTime by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 2,825,402 shares of the company’s stock valued at $997,904,000 after acquiring an additional 61,336 shares during the period. BlackRock Inc. acquired a new position in SiTime in the second quarter valued at about $1,781,937,000. 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 worth $312,550,000 after purchasing an additional 18,165 shares during the period. State Street Corp grew its stake in SiTime by 3.7% during the second quarter. State Street Corp now owns 911,280 shares of the company’s stock worth $194,176,000 after buying an additional 32,178 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in SiTime by 22.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 736,281 shares of the company’s stock valued at $156,887,000 after buying an additional 132,948 shares during the period. Institutional investors own 84.31% of the company’s stock.

SiTime Stock Performance

NASDAQ SITM opened at $599.89 on Friday. The firm’s fifty day moving average price is $624.27 and its two-hundred day moving average price is $557.67. The stock has a market cap of $18.04 billion, a PE ratio of 1,224.27 and a beta of 2.94. SiTime Corporation has a fifty-two week low of $222.12 and a fifty-two week high of $901.81. 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 (NASDAQ:SITMGet Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $2.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.39. SiTime had a net margin of 3.01% and a return on equity of 4.99%. The company had revenue of $157.43 million during the quarter, compared to the consensus estimate of $146.46 million. During the same period in the prior year, the business earned $0.47 earnings per share. The company’s revenue for the quarter was up 126.5% compared to the same quarter last year. SiTime has set its Q3 2026 guidance at 3.500-3.650 EPS. On average, equities analysts expect that SiTime Corporation will post 6.33 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Torsten Kreindl sold 1,050 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $721.67, for a total transaction 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Rajesh Vashist sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $701.13, for a total value of $21,033,900.00. Following the completion of the transaction, the chief executive officer directly owned 402,898 shares of the company’s stock, valued at $282,483,874.74. This represents a 6.93% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 66,840 shares of company stock worth $47,960,638. Company insiders own 1.40% of the company’s stock.

Analysts Set New Price Targets

SITM has been the subject of a number of recent analyst reports. Roth Capital reaffirmed a “buy” rating and set a $900.00 price target on shares of SiTime in a report on Thursday, May 7th. Weiss Ratings upgraded SiTime from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Tuesday. Needham & Company LLC raised their target price on SiTime from $850.00 to $900.00 and gave the company a “buy” rating in a report on Thursday, August 6th. The Goldman Sachs Group reissued a “buy” rating and set a $900.00 price target on shares of SiTime in a report on Thursday, August 6th. Finally, UBS Group upped their price objective on SiTime from $775.00 to $840.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Two 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 company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $706.67.

Read Our Latest Research Report on SITM

About SiTime

(Free Report)

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.

See Also

Institutional Ownership by Quarter for SiTime (NASDAQ:SITM)

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