Sei Investments Co. Raises Holdings in SiTime Corporation $SITM

Sei Investments Co. lifted its position in shares of SiTime Corporation (NASDAQ:SITM) by 53.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 33,524 shares of the company’s stock after acquiring an additional 11,619 shares during the quarter. Sei Investments Co. owned approximately 0.13% of SiTime worth $11,580,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Rakuten Securities Inc. lifted its holdings 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 purchasing an additional 49 shares during the last quarter. Parallel Advisors LLC increased its stake in shares of SiTime by 26.2% in the first quarter. Parallel Advisors LLC now owns 77 shares of the company’s stock worth $27,000 after purchasing an additional 16 shares in the last quarter. Larson Financial Group LLC increased its stake in shares of SiTime by 3,200.0% in the third quarter. Larson Financial Group LLC now owns 99 shares of the company’s stock worth $30,000 after purchasing an additional 96 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of SiTime in the fourth quarter valued at approximately $33,000. Finally, Danske Bank A S bought a new stake in shares of SiTime in the fourth quarter valued at approximately $35,000. Hedge funds and other institutional investors own 84.31% of the company’s stock.

Insider Transactions at SiTime

In other news, Director Raman Chitkara sold 2,000 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $727.38, for a total value of $1,454,760.00. Following the transaction, the director owned 19,898 shares of the company’s stock, valued at approximately $14,473,407.24. This represents a 9.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Fariborz Assaderaghi sold 1,709 shares of the stock in a transaction on 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 completion of the sale, the insider owned 81,436 shares in the company, valued at $59,569,619.64. This trade represents a 2.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 69,709 shares of company stock worth $50,230,546. 1.40% of the stock is owned by corporate insiders.

SiTime Trading Up 1.4%

Shares of SiTime stock opened at $535.20 on Friday. The company’s 50-day moving average price is $647.50 and its 200-day moving average price is $519.67. SiTime Corporation has a 12-month low of $186.49 and a 12-month high of $901.81. The company has a market cap of $14.13 billion, a price-to-earnings ratio of -529.90 and a beta of 2.91.

SiTime (NASDAQ:SITM) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $1.44 EPS for the quarter, beating the consensus estimate of $1.14 by $0.30. The company had revenue of $113.57 million during the quarter, compared to analysts’ expectations of $103.51 million. SiTime had a negative net margin of 6.38% and a positive return on equity of 0.53%. SiTime’s revenue for the quarter was up 88.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.26 earnings per share. On average, sell-side analysts predict that SiTime Corporation will post 3.23 earnings per share for the current year.

Analyst Upgrades and Downgrades

SITM has been the subject of several analyst reports. Wall Street Zen raised shares of SiTime from a “hold” rating to a “buy” rating in a report on Sunday, July 12th. Stifel Nicolaus boosted their target price on shares of SiTime from $450.00 to $500.00 and gave the company a “buy” rating in a report on Thursday, April 16th. Needham & Company LLC increased their target price on SiTime from $450.00 to $850.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. UBS Group raised their price target on SiTime from $675.00 to $775.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of SiTime in a research report on Friday, July 17th. Eight investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $661.88.

About SiTime

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.