HighTower Advisors LLC Sells 3,428 Shares of SiTime Corporation $SITM

HighTower Advisors LLC decreased its holdings in shares of SiTime Corporation (NASDAQ:SITM) by 17.5% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 16,135 shares of the company’s stock after selling 3,428 shares during the period. HighTower Advisors LLC’s holdings in SiTime were worth $12,030,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Tairen Capital Ltd bought a new position in shares of SiTime during the second quarter worth $9,320,000. Stephens Investment Management Group LLC bought a new stake in SiTime in the 1st quarter valued at $24,135,000. Rockefeller Capital Management L.P. raised its stake in shares of SiTime by 1,368.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 3,259 shares of the company’s stock valued at $1,151,000 after purchasing an additional 3,037 shares during the period. Janus Henderson Group PLC grew its holdings in shares of SiTime by 13.2% during the first quarter. Janus Henderson Group PLC now owns 14,448 shares of the company’s stock worth $4,994,000 after buying an additional 1,688 shares in the last quarter. Finally, California State Teachers Retirement System lifted its stake in SiTime by 73,098.9% in the 2nd quarter. California State Teachers Retirement System now owns 18,779,165 shares of the company’s stock valued at $14,000,994,000 after acquiring an additional 18,753,510 shares in the last quarter. 84.31% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SITM has been the topic of a number of recent research reports. Weiss Ratings upgraded shares of SiTime from a “sell (d-)” rating to a “hold (c-)” rating in a report on Tuesday, August 25th. Needham & Company LLC lifted their price objective on shares of SiTime from $850.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Wall Street Zen raised shares of SiTime from a “hold” rating to a “buy” rating in a report on Sunday, July 12th. The Goldman Sachs Group reiterated 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 company a “buy” rating in a research note on Thursday, August 6th. Two investment 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 stock. According to data from MarketBeat.com, SiTime presently has a consensus rating of “Buy” and a consensus target price of $761.25.

Insider Buying and Selling at SiTime

In other news, Director Torsten Kreindl sold 1,050 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $721.67, for a total value of $757,753.50. Following the completion of the transaction, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Edward H. Frank sold 1,000 shares of the company’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $745.00, for a total value of $745,000.00. Following the sale, the director owned 10,999 shares of the company’s stock, valued at $8,194,255. The trade was a 8.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 24,550 shares of company stock valued at $18,309,538 over the last three months. 1.40% of the stock is owned by insiders.

SiTime Trading Down 1.5%

Shares of SiTime stock opened at $589.87 on Thursday. The firm has a 50-day moving average of $601.14 and a 200-day moving average of $568.10. SiTime Corporation has a 52-week low of $243.68 and a 52-week high of $901.81. The stock has a market cap of $17.74 billion, a PE ratio of 1,203.82 and a beta of 2.86. 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:SITM) last released its quarterly earnings results on Wednesday, August 5th. The company reported $2.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.95 by $0.39. The company had revenue of $157.43 million during the quarter, compared to the consensus estimate of $146.46 million. SiTime had a net margin of 3.01% and a return on equity of 4.99%. The firm’s quarterly revenue was up 126.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.47 earnings per share. SiTime has set its Q3 2026 guidance at 3.500-3.650 EPS. As a group, sell-side analysts forecast that SiTime Corporation will post 6.33 EPS for the current year.

About SiTime

SiTime Corporation (NASDAQ: SITM) is a semiconductor company that develops precision timing solutions based on microelectromechanical systems (MEMS) technology. Its products are designed to generate, distribute and synchronize the timing signals used by electronic systems and are intended to provide alternatives to traditional quartz-based timing components.

The company’s portfolio includes MEMS oscillators, clock generators, clock buffers, resonators and related timing devices. These products are used in applications such as data centers, wired and wireless communications infrastructure, automotive systems, industrial equipment, consumer electronics, aerospace and defense systems, and other high-performance electronic devices.

SiTime was founded in 2004 and is headquartered in Santa Clara, California.