Rhumbline Advisers Purchases 4,077 Shares of SiTime Corporation $SITM

Rhumbline Advisers lifted its position in SiTime Corporation (NASDAQ:SITM) by 7.5% during the third quarter, Holdings Channel reports. The institutional investor owned 58,779 shares of the company’s stock after buying an additional 4,077 shares during the quarter. Rhumbline Advisers’ holdings in SiTime were worth $17,711,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Invesco Ltd. boosted its stake in SiTime by 4.8% in the second quarter. Invesco Ltd. now owns 1,019,140 shares of the company’s stock valued at $217,158,000 after acquiring an additional 46,721 shares in the last quarter. State Street Corp lifted its holdings in shares of SiTime by 3.7% during the 2nd 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 during the last quarter. Ameriprise Financial Inc. boosted its position in shares of SiTime by 22.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 736,281 shares of the company’s stock worth $156,887,000 after purchasing an additional 132,948 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of SiTime by 11.2% in the 2nd quarter. Geode Capital Management LLC now owns 506,400 shares of the company’s stock worth $107,918,000 after purchasing an additional 51,063 shares in the last quarter. Finally, Alliancebernstein L.P. grew its stake in SiTime by 1.1% during the 2nd quarter. Alliancebernstein L.P. now owns 448,036 shares of the company’s stock worth $95,468,000 after buying an additional 4,809 shares during the last quarter. Institutional investors own 84.31% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on SITM shares. Wall Street Zen raised SiTime from a “hold” rating to a “buy” rating in a report on Saturday. Needham & Company LLC increased their price objective on shares of SiTime from $400.00 to $450.00 and gave the company a “buy” rating in a research report on Thursday, February 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of SiTime in a research note on Thursday, January 22nd. Loop Capital initiated coverage on shares of SiTime in a research report on Friday, November 21st. They set a “buy” rating and a $350.00 target price on the stock. Finally, The Goldman Sachs Group started coverage on shares of SiTime in a report on Monday, December 15th. They issued a “buy” rating and a $420.00 price target for the company. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $409.38.

Insider Buying and Selling at SiTime

In other SiTime news, CEO Rajesh Vashist sold 2,000 shares of the stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $369.20, for a total transaction of $738,400.00. Following the sale, the chief executive officer directly owned 431,609 shares of the company’s stock, valued at approximately $159,350,042.80. This trade represents a 0.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Fariborz Assaderaghi sold 2,112 shares of the business’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $428.08, for a total value of $904,104.96. Following the completion of the transaction, the insider directly owned 97,937 shares of the company’s stock, valued at approximately $41,924,870.96. This trade represents a 2.11% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 24,712 shares of company stock valued at $9,562,777. Company insiders own 2.30% of the company’s stock.

SiTime Stock Down 1.5%

Shares of NASDAQ SITM opened at $414.05 on Wednesday. SiTime Corporation has a 52 week low of $105.40 and a 52 week high of $446.95. The business’s 50 day moving average price is $371.14 and its 200 day moving average price is $308.07. The firm has a market cap of $10.89 billion, a P/E ratio of -227.50 and a beta of 2.51.

SiTime (NASDAQ:SITM) last announced its quarterly earnings data on Wednesday, February 4th. The company reported $1.53 EPS for the quarter, beating the consensus estimate of $1.20 by $0.33. The business had revenue of $113.29 million during the quarter, compared to analysts’ expectations of $101.91 million. SiTime had a negative net margin of 13.13% and a negative return on equity of 2.06%. The business’s quarterly revenue was up 66.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.48 EPS. As a group, research analysts expect that SiTime Corporation will post -2.44 earnings per share for the current year.

About SiTime

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.