Rockefeller Capital Management L.P. Acquires 3,037 Shares of SiTime Corporation $SITM

Rockefeller Capital Management L.P. lifted its holdings in shares of SiTime Corporation (NASDAQ:SITM) by 1,368.0% during the fourth quarter, HoldingsChannel reports. The firm owned 3,259 shares of the company’s stock after acquiring an additional 3,037 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in SiTime were worth $1,151,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of SITM. Norges Bank acquired a new position in shares of SiTime in the 4th quarter valued at approximately $83,977,000. Whale Rock Capital Management LLC raised its holdings in SiTime by 45.4% during the 4th quarter. Whale Rock Capital Management LLC now owns 698,539 shares of the company’s stock worth $246,717,000 after buying an additional 218,038 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in SiTime by 61.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 562,892 shares of the company’s stock valued at $198,808,000 after buying an additional 213,242 shares in the last quarter. Fuller & Thaler Asset Management Inc. bought a new position in SiTime in the fourth quarter valued at approximately $59,452,000. Finally, Wellington Management Group LLP lifted its stake in SiTime by 36.8% in the third quarter. Wellington Management Group LLP now owns 537,741 shares of the company’s stock valued at $162,027,000 after buying an additional 144,671 shares in the last quarter. Institutional investors own 84.31% of the company’s stock.

SiTime Stock Down 14.5%

Shares of SITM stock opened at $601.66 on Friday. The company’s fifty day simple moving average is $694.02 and its 200-day simple moving average is $489.12. The firm has a market cap of $15.88 billion, a PE ratio of -595.70 and a beta of 2.91. SiTime Corporation has a 12 month low of $186.49 and a 12 month high of $901.81.

SiTime (NASDAQ:SITM) last released its earnings results on Wednesday, May 6th. The company reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.30. SiTime had a negative net margin of 6.38% and a positive return on equity of 0.53%. The business had revenue of $113.57 million during the quarter, compared to the consensus estimate of $103.51 million. During the same quarter last year, the firm earned $0.26 earnings per share. The firm’s revenue for the quarter was up 88.3% compared to the same quarter last year. On average, equities analysts predict that SiTime Corporation will post 3.23 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SITM. Roth Mkm reissued a “buy” rating and set a $900.00 price objective on shares of SiTime in a research report on Thursday, May 7th. UBS Group boosted their price objective on shares of SiTime from $675.00 to $775.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Needham & Company LLC upped their target price on shares of SiTime from $450.00 to $850.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Wall Street Zen cut SiTime from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $661.88.

Insider Activity at SiTime

In related news, insider Fariborz Assaderaghi sold 1,709 shares of SiTime stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $731.49, for a total value of $1,250,116.41. Following the sale, the insider owned 81,436 shares of the company’s stock, valued at approximately $59,569,619.64. The trade was a 2.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Akira Takata sold 1,500 shares of the company’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $860.86, for a total value of $1,291,290.00. Following the sale, the director owned 12,234 shares in the company, valued at $10,531,761.24. The trade was a 10.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 73,375 shares of company stock worth $51,931,438. Corporate insiders own 1.40% of the company’s stock.

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.