1,358 Shares of SiTime Corporation $SITM Purchased by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. bought a new position in shares of SiTime Corporation (NASDAQ:SITM) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,358 shares of the company’s stock, valued at approximately $885,000.

A number of other large investors also recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in SiTime in the 2nd quarter worth approximately $1,781,937,000. Bank of New York Mellon Corp grew its holdings in SiTime by 5.4% during the 1st quarter. Bank of New York Mellon Corp now owns 372,943 shares of the company’s stock valued at $128,796,000 after buying an additional 18,983 shares in the last quarter. Bamco Inc. NY bought a new stake in shares of SiTime during the second quarter valued at approximately $52,341,000. Bank of America Corp DE raised its position in shares of SiTime by 53.7% during the first quarter. Bank of America Corp DE now owns 151,021 shares of the company’s stock valued at $52,155,000 after buying an additional 52,754 shares during the last quarter. Finally, TimesSquare Capital Management LLC bought a new stake in shares of SiTime during the second quarter valued at approximately $48,194,000. 84.31% of the stock is owned by hedge funds and other institutional investors.

SiTime Price Performance

NASDAQ SITM opened at $416.92 on Monday. The company has a quick ratio of 4.62, a current ratio of 5.56 and a debt-to-equity ratio of 0.38. SiTime Corporation has a 52 week low of $243.68 and a 52 week high of $901.81. The firm has a market capitalization of $12.54 billion, a price-to-earnings ratio of 443.53 and a beta of 2.88. The company has a fifty day moving average of $562.21 and a two-hundred day moving average of $546.27.

Shares of SiTime are scheduled to split on Monday, December 7th. The 3-1 split was recently announced. The newly created shares will be issued to shareholders after the market closes on Sunday, December 6th.

SiTime (NASDAQ:SITM) last announced its earnings results on Wednesday, November 4th. The company reported $4.01 earnings per share for the quarter, beating the consensus estimate of $3.62 by $0.39. SiTime had a net margin of 3.87% and a return on equity of 9.07%. The business had revenue of $298.67 million for the quarter, compared to the consensus estimate of $292.65 million. During the same quarter in the prior year, the firm posted $0.87 earnings per share. The business’s revenue for the quarter was up 257.4% on a year-over-year basis. On average, analysts predict that SiTime Corporation will post 6.37 earnings per share for the current year.

Key Headlines Impacting SiTime

Here are the key news stories impacting SiTime this week:

• Positive Sentiment: Seaport Global upgraded SiTime to Buy from Neutral and set a $425 price target, helping lift sentiment after the stock’s post-earnings pullback. SiTime shares surge as Seaport upgrades to Buy
• Positive Sentiment: Third-quarter results beat expectations: SiTime reported adjusted EPS of $4.01 versus the cited $3.62 consensus and revenue of $298.67 million versus $292.65 million. Revenue rose 257.4% year over year, with AI infrastructure demand and the Renesas timing acquisition contributing to growth. SiTime Q3 earnings surpass estimates
• Positive Sentiment: Needham initiated coverage with a Buy rating and a $600 price target, adding another bullish analyst view. Needham analyst recommendations
• Positive Sentiment: Management highlighted AI-driven growth and expanding optical-networking opportunities, while reporting a 70.7% gross margin. Q3 call highlights AI demand and supply constraints
• Neutral Sentiment: UBS maintained its Buy rating but cut its price target to $650 from $750, tempering the analyst outlook even as the rating remained positive. UBS analyst recommendations
• Negative Sentiment: Wafer supply constraints are expected to persist through 2027, potentially limiting SiTime’s ability to meet demand and convert its growth opportunities into sales. Q3 call highlights AI demand and supply constraints

Insider Activity

In other news, Director Katherine Schuelke sold 500 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $698.05, for a total transaction of $349,025.00. Following the transaction, the director owned 12,010 shares of the company’s stock, valued at approximately $8,383,580.50. This represents a 4.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Rajesh Vashist sold 12,000 shares of the stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $603.47, for a total value of $7,241,640.00. Following the completion of the sale, the chief executive officer owned 345,544 shares in the company, valued at approximately $208,525,437.68. The trade was a 3.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 14,874 shares of company stock worth $9,298,908 in the last ninety days. 1.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

SITM has been the subject of a number of research reports. Citigroup lowered shares of SiTime to a “neutral” rating in a research report on Friday. Guggenheim initiated coverage on shares of SiTime in a research note on Friday. They set a “buy” rating for the company. Seaport Research Partners upgraded shares of SiTime from a “neutral” rating to a “buy” rating and set a $425.00 price target on the stock in a report on Friday. Wall Street Zen downgraded shares of SiTime from a “buy” rating to a “hold” rating in a report on Saturday. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $900.00 price target on shares of SiTime in a research note on Thursday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $687.00.

SiTime Profile

SiTime Corporation develops silicon-based timing solutions using microelectromechanical systems (MEMS) technology. Its products include MEMS resonators, oscillators and clock generators, which provide timing signals used to synchronize electronic systems.

The company’s components serve applications across communications, data centers, automotive, industrial, aerospace and defense, and consumer electronics. SiTime sells its products to customers and partners worldwide.

Founded in 2005, SiTime became part of Japan’s MegaChips in 2014 and later became a publicly traded company.