SiTime Corporation $SITM Stock Position Lifted by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. grew its position in shares of SiTime Corporation (NASDAQ:SITM) by 13.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 249,714 shares of the company’s stock after acquiring an additional 30,464 shares during the quarter. Goldman Sachs Group Inc. owned about 0.96% of SiTime worth $88,196,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Rakuten Securities Inc. raised its stake in shares of SiTime by 188.5% in the 4th quarter. Rakuten Securities Inc. now owns 75 shares of the company’s stock worth $26,000 after buying an additional 49 shares in the last quarter. Hantz Financial Services Inc. grew its holdings in shares of SiTime by 190.3% in the 3rd quarter. Hantz Financial Services Inc. now owns 90 shares of the company’s stock worth $27,000 after acquiring an additional 59 shares during the last quarter. Optiver Holding B.V. grew its holdings in shares of SiTime by 56.1% in the 3rd quarter. Optiver Holding B.V. now owns 89 shares of the company’s stock worth $27,000 after acquiring an additional 32 shares during the last quarter. Larson Financial Group LLC grew its holdings in shares of SiTime by 3,200.0% during the third quarter. Larson Financial Group LLC now owns 99 shares of the company’s stock valued at $30,000 after buying an additional 96 shares in the last quarter. Finally, Danske Bank A S purchased a new position in shares of SiTime during the fourth quarter valued at $35,000. Institutional investors own 84.31% of the company’s stock.

Insiders Place Their Bets

In related news, insider Piyush B. Sevalia sold 2,419 shares of the firm’s stock in a transaction on Friday, April 17th. The stock was sold at an average price of $484.05, for a total transaction of $1,170,916.95. Following the sale, the insider owned 84,250 shares of the company’s stock, valued at approximately $40,781,212.50. This trade represents a 2.79% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Rajesh Vashist sold 30,000 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $701.13, for a total value of $21,033,900.00. Following the sale, the chief executive officer directly owned 402,898 shares in the company, valued at $282,483,874.74. The trade was a 6.93% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 52,624 shares of company stock worth $35,942,053 over the last three months. Insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on SITM shares. Stifel Nicolaus boosted their price target on SiTime from $450.00 to $500.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SiTime in a research report on Tuesday, April 21st. UBS Group boosted their price target on SiTime from $675.00 to $775.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. 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. Finally, Barclays raised SiTime from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $400.00 to $850.00 in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $661.88.

SiTime Price Performance

NASDAQ SITM opened at $659.52 on Wednesday. The firm has a market cap of $17.41 billion, a PE ratio of -652.99 and a beta of 2.94. SiTime Corporation has a one year low of $186.49 and a one year high of $901.81. The stock’s 50 day simple moving average is $595.95 and its 200 day simple moving average is $443.50.

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

SiTime Company 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.