2,295 Shares in SiTime Corporation $SITM Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC acquired a new stake in SiTime Corporation (NASDAQ:SITM) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,295 shares of the company’s stock, valued at approximately $679,000.

A number of other large investors also recently bought and sold shares of the company. Royal Bank of Canada boosted its holdings in SiTime by 12.5% in the 1st quarter. Royal Bank of Canada now owns 4,411 shares of the company’s stock valued at $675,000 after purchasing an additional 491 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in shares of SiTime by 33.6% in the first quarter. Advisors Asset Management Inc. now owns 350 shares of the company’s stock valued at $54,000 after buying an additional 88 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of SiTime by 310.8% in the first quarter. AQR Capital Management LLC now owns 10,754 shares of the company’s stock valued at $1,557,000 after buying an additional 8,136 shares in the last quarter. Intech Investment Management LLC grew its holdings in SiTime by 21.6% during the first quarter. Intech Investment Management LLC now owns 8,322 shares of the company’s stock worth $1,272,000 after acquiring an additional 1,477 shares during the period. Finally, Strs Ohio purchased a new position in SiTime in the first quarter worth $734,000. Hedge funds and other institutional investors own 84.31% of the company’s stock.

Insiders Place Their Bets

In related news, insider Samsheer Ahamad sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $291.10, for a total value of $1,164,400.00. Following the sale, the insider directly owned 51,711 shares of the company’s stock, valued at approximately $15,053,072.10. This trade represents a 7.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Fariborz Assaderaghi sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $291.58, for a total transaction of $437,370.00. Following the completion of the sale, the insider owned 84,815 shares of the company’s stock, valued at approximately $24,730,357.70. The trade was a 1.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 21,500 shares of company stock valued at $6,791,710. Insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

SITM has been the subject of a number of research analyst reports. Loop Capital assumed coverage on shares of SiTime in a report on Friday, November 21st. They issued a “buy” rating and a $350.00 price target for the company. Raymond James Financial restated an “outperform” rating on shares of SiTime in a research report on Tuesday, December 2nd. Barclays increased their target price on shares of SiTime from $220.00 to $260.00 and gave the company an “underweight” rating in a report on Thursday, November 6th. UBS Group lifted their price target on shares of SiTime from $355.00 to $375.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. Finally, The Goldman Sachs Group started coverage on SiTime in a report on Monday, December 15th. They issued a “buy” rating and a $420.00 price target on the stock. Seven equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $343.13.

SiTime Stock Performance

SITM stock opened at $342.20 on Friday. The company has a 50 day moving average price of $329.61 and a two-hundred day moving average price of $274.44. The stock has a market capitalization of $8.93 billion, a P/E ratio of -115.61 and a beta of 2.49. SiTime Corporation has a one year low of $105.40 and a one year high of $387.52.

SiTime (NASDAQ:SITM) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.16. The business had revenue of $83.57 million for the quarter, compared to analysts’ expectations of $78.08 million. SiTime had a negative return on equity of 5.69% and a negative net margin of 25.18%.The business’s revenue was up 44.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.40 earnings per share. Research analysts forecast that SiTime Corporation will post -2.44 earnings per share for the current fiscal year.

SiTime 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.