Vanguard Group Inc. Purchases 123,287 Shares of SiTime Corporation $SITM

Vanguard Group Inc. lifted its position in shares of SiTime Corporation (NASDAQ:SITM) by 4.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,764,066 shares of the company’s stock after acquiring an additional 123,287 shares during the period. Vanguard Group Inc. owned approximately 0.11% of SiTime worth $832,841,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Verdence Capital Advisors LLC lifted its stake in shares of SiTime by 3.7% in the 3rd quarter. Verdence Capital Advisors LLC now owns 1,118 shares of the company’s stock valued at $309,000 after acquiring an additional 40 shares during the last quarter. Bessemer Group Inc. grew its position in SiTime by 27.4% during the 3rd quarter. Bessemer Group Inc. now owns 186 shares of the company’s stock worth $55,000 after acquiring an additional 40 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in SiTime by 10.9% in the 3rd quarter. Smartleaf Asset Management LLC now owns 427 shares of the company’s stock worth $125,000 after purchasing an additional 42 shares in the last quarter. Lazard Asset Management LLC raised its position in SiTime by 7.7% in the second quarter. Lazard Asset Management LLC now owns 654 shares of the company’s stock valued at $139,000 after purchasing an additional 47 shares during the last quarter. Finally, Atlas Brown Inc. raised its position in SiTime by 2.3% in the third quarter. Atlas Brown Inc. now owns 2,255 shares of the company’s stock valued at $679,000 after purchasing an additional 50 shares during the last quarter. Institutional investors and hedge funds own 84.31% of the company’s stock.

Insider Activity at SiTime

In other SiTime news, insider Samsheer Ahamad sold 9,100 shares of the firm’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $441.47, for a total transaction of $4,017,377.00. Following the transaction, the insider directly owned 52,938 shares in the company, valued at approximately $23,370,538.86. This trade represents a 14.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Rajesh Vashist sold 2,000 shares of SiTime stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $369.20, for a total transaction of $738,400.00. Following the transaction, the chief executive officer directly owned 431,609 shares in the company, valued at $159,350,042.80. This represents a 0.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 25,278 shares of company stock valued at $9,796,580 over the last quarter. 2.30% of the stock is currently owned by company insiders.

SiTime Stock Performance

NASDAQ:SITM opened at $406.97 on Monday. SiTime Corporation has a fifty-two week low of $105.40 and a fifty-two week high of $446.95. The company has a 50 day simple moving average of $372.94 and a two-hundred day simple moving average of $312.33. The company has a market capitalization of $10.70 billion, a PE ratio of -223.61 and a beta of 2.51.

SiTime (NASDAQ:SITM) last posted its quarterly earnings data on Wednesday, February 4th. The company reported $1.53 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.33. The company had revenue of $113.29 million for the quarter, compared to analyst estimates of $101.91 million. SiTime had a negative net margin of 13.13% and a negative return on equity of 2.06%. The company’s quarterly revenue was up 66.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.48 EPS. Research analysts predict that SiTime Corporation will post -2.44 EPS for the current year.

Analysts Set New Price Targets

SITM has been the topic of several research reports. The Goldman Sachs Group began coverage on SiTime in a report on Monday, December 15th. They set a “buy” rating and a $420.00 price target on the stock. Raymond James Financial reiterated an “outperform” rating on shares of SiTime in a research report on Tuesday, December 2nd. Wall Street Zen upgraded shares of SiTime from a “hold” rating to a “buy” rating in a research report on Saturday, February 14th. Roth Mkm reiterated a “buy” rating and set a $450.00 price target on shares of SiTime in a report on Thursday, February 5th. Finally, Barclays set a $400.00 price objective on shares of SiTime in a research note on Thursday, February 5th. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, SiTime currently has a consensus rating of “Moderate Buy” and an average price target of $409.38.

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.