SiTime Corporation $SITM Stake Increased by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS increased its holdings in shares of SiTime Corporation (NASDAQ:SITM) by 7.8% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 17,217 shares of the company’s stock after purchasing an additional 1,246 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in SiTime were worth $11,226,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. purchased a new position in SiTime in the second quarter valued at approximately $1,781,937,000. Bank of New York Mellon Corp lifted its position in SiTime by 5.4% during the first 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. Bank of America Corp DE grew its stake in SiTime by 53.7% during the first quarter. Bank of America Corp DE now owns 151,021 shares of the company’s stock worth $52,155,000 after buying an additional 52,754 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in SiTime by 865.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 79,178 shares of the company’s stock worth $27,344,000 after buying an additional 70,974 shares during the period. Finally, Bamco Inc. NY purchased a new stake in SiTime during the second quarter worth approximately $52,341,000. Institutional investors and hedge funds own 84.31% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on SITM shares. Zacks Research lowered shares of SiTime from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. Roth Capital started coverage on shares of SiTime in a report on Friday. They set a “buy” rating on the stock. UBS Group decreased their price target on shares of SiTime from $750.00 to $650.00 and set a “buy” rating for the company in a research report on Thursday. Needham & Company LLC began coverage on SiTime in a report on Thursday. They issued a “buy” rating and a $600.00 price target for the company. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $900.00 price objective on shares of SiTime in a research report on Thursday, August 6th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $687.00.

Insider Activity

In related news, Director Katherine Schuelke sold 500 shares of SiTime stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $698.05, for a total transaction of $349,025.00. Following the sale, the director owned 12,010 shares of the company’s stock, valued at $8,383,580.50. The trade was a 4.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Edward Frank sold 1,000 shares of the business’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $745.00, for a total transaction of $745,000.00. Following the completion of the transaction, the director owned 10,999 shares in the company, valued at $8,194,255. This represents a 8.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 14,874 shares of company stock valued at $9,298,908 in the last 90 days. Company insiders own 1.40% of the company’s stock.

SiTime Stock Performance

SiTime stock opened at $416.92 on Friday. The firm has a market capitalization of $12.54 billion, a PE ratio of 443.53 and a beta of 2.88. SiTime Corporation has a one year low of $243.68 and a one year high of $901.81. The stock’s 50 day moving average price is $562.21 and its 200 day moving average price is $546.27. The company has a debt-to-equity ratio of 0.38, a quick ratio of 18.50 and a current ratio of 5.56.

SiTime’s stock is scheduled to split before the market opens on Monday, December 7th. The 3-1 split was recently announced. The newly minted shares will be issued to shareholders after the market closes on Sunday, December 6th.

SiTime (NASDAQ:SITM) last posted its quarterly earnings data on Wednesday, November 4th. The company reported $4.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.62 by $0.39. SiTime had a net margin of 3.87% and a return on equity of 9.07%. The company had revenue of $298.67 million for the quarter, compared to analyst estimates of $292.65 million. During the same quarter last year, the firm posted $0.87 earnings per share. The business’s quarterly revenue was up 257.4% on a year-over-year basis. As a group, sell-side analysts expect that SiTime Corporation will post 6.37 EPS for the current fiscal year.

Trending Headlines about 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

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.