Susquehanna Fundamental Investments LLC purchased a new stake in SiTime Corporation (NASDAQ:SITM – Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 5,480 shares of the company’s stock, valued at approximately $4,086,000.
Other large investors have also made changes to their positions in the company. BlackRock Inc. bought a new stake in SiTime during the 2nd quarter worth approximately $1,781,937,000. Norges Bank bought a new position in SiTime in the fourth quarter valued at approximately $83,977,000. Whale Rock Capital Management LLC boosted its holdings in shares of SiTime by 45.4% in the fourth quarter. Whale Rock Capital Management LLC now owns 698,539 shares of the company’s stock valued at $246,717,000 after buying an additional 218,038 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of SiTime by 61.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 562,892 shares of the company’s stock worth $198,808,000 after acquiring an additional 213,242 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. acquired a new stake in shares of SiTime during the fourth quarter worth $59,452,000. Institutional investors own 84.31% of the company’s stock.
SiTime Trading Up 1.4%
SiTime stock opened at $565.42 on Tuesday. The firm has a 50-day moving average of $617.09 and a 200-day moving average of $559.73. SiTime Corporation has a one year low of $222.12 and a one year high of $901.81. The company has a debt-to-equity ratio of 1.29, a current ratio of 19.44 and a quick ratio of 18.50. The company has a market cap of $17.00 billion, a price-to-earnings ratio of 1,153.92 and a beta of 2.94.
Insider Transactions at SiTime
In other news, Director Torsten Kreindl sold 1,050 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $721.67, for a total value of $757,753.50. Following the completion of the sale, the director owned 12,481 shares of the company’s stock, valued at approximately $9,007,163.27. This represents a 7.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Raman Chitkara sold 2,000 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $727.38, for a total value of $1,454,760.00. Following the completion of the sale, the director directly owned 19,898 shares of the company’s stock, valued at approximately $14,473,407.24. The trade was a 9.13% 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 90 days, insiders sold 65,550 shares of company stock valued at $47,057,638. 1.40% of the stock is owned by insiders.
Analyst Ratings Changes
A number of brokerages recently weighed in on SITM. Weiss Ratings raised shares of SiTime from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Tuesday, August 25th. Barclays raised SiTime from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $400.00 to $850.00 in a research note on Thursday, May 7th. Zacks Research raised SiTime from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 13th. 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. Finally, Roth Capital reiterated a “buy” rating and set a $900.00 price objective on shares of SiTime in a report on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $761.25.
Check Out Our Latest Analysis on SITM
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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