KBC Group NV Grows Stock Holdings in SiTime Corporation $SITM

KBC Group NV boosted its stake in SiTime Corporation (NASDAQ:SITM) by 19.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,807 shares of the company’s stock after purchasing an additional 1,464 shares during the period. KBC Group NV’s holdings in SiTime were worth $3,041,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Los Angeles Capital Management LLC lifted its holdings in shares of SiTime by 0.3% during the 4th quarter. Los Angeles Capital Management LLC now owns 9,023 shares of the company’s stock valued at $3,187,000 after buying an additional 25 shares during the period. CWM LLC grew its holdings in shares of SiTime by 4.2% in the fourth quarter. CWM LLC now owns 951 shares of the company’s stock worth $336,000 after acquiring an additional 38 shares during the period. Corient Private Wealth LLC grew its holdings in shares of SiTime by 5.9% in the fourth quarter. Corient Private Wealth LLC now owns 703 shares of the company’s stock worth $249,000 after acquiring an additional 39 shares during the period. Lazard Asset Management LLC increased its position in SiTime by 7.7% during the second quarter. Lazard Asset Management LLC now owns 654 shares of the company’s stock valued at $139,000 after acquiring an additional 47 shares during the last quarter. Finally, Rakuten Securities Inc. increased its position in SiTime by 188.5% during the fourth quarter. Rakuten Securities Inc. now owns 75 shares of the company’s stock valued at $26,000 after acquiring an additional 49 shares during the last quarter. Institutional investors own 84.31% of the company’s stock.

Wall Street Analyst Weigh In

SITM has been the topic of a number of recent research reports. Wall Street Zen raised SiTime from a “hold” rating to a “buy” rating in a report on Sunday, July 12th. Zacks Research downgraded SiTime from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Roth Capital reaffirmed a “buy” rating and set a $900.00 price target on shares of SiTime in a research report on Thursday, May 7th. Stifel Nicolaus increased their price objective on shares of SiTime from $450.00 to $500.00 and gave the stock a “buy” rating in a research note on Thursday, April 16th. Finally, Needham & Company LLC raised their price objective on shares of SiTime from $450.00 to $850.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Eight investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $661.88.

Insider Transactions at SiTime

In related news, Director Christine Heckart sold 1,290 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $700.00, for a total value of $903,000.00. Following the completion of the sale, the director directly owned 790 shares of the company’s stock, valued at approximately $553,000. This represents a 62.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Akira Takata sold 1,500 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $860.86, for a total transaction of $1,291,290.00. Following the completion of the sale, the director directly owned 12,234 shares of the company’s stock, valued at $10,531,761.24. This represents a 10.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 69,709 shares of company stock valued at $50,230,546. Company insiders own 1.40% of the company’s stock.

SiTime Stock Performance

Shares of SiTime stock opened at $554.46 on Friday. SiTime Corporation has a one year low of $186.49 and a one year high of $901.81. The stock’s fifty day moving average is $667.85 and its 200 day moving average is $513.77. The stock has a market cap of $14.64 billion, a P/E ratio of -548.97 and a beta of 2.91.

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