Rhumbline Advisers Purchases 4,077 Shares of SiTime Corporation $SITM

Rhumbline Advisers raised its position in shares of SiTime Corporation (NASDAQ:SITM) by 7.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,779 shares of the company’s stock after acquiring an additional 4,077 shares during the period. Rhumbline Advisers owned approximately 0.23% of SiTime worth $17,711,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of SITM. Ariose Capital Management Ltd purchased a new position in shares of SiTime during the 3rd quarter worth about $2,974,000. Emerald Mutual Fund Advisers Trust raised its position in SiTime by 10.6% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 98,689 shares of the company’s stock worth $29,736,000 after purchasing an additional 9,492 shares during the period. Federated Hermes Inc. lifted its stake in SiTime by 25.0% in the third quarter. Federated Hermes Inc. now owns 125,000 shares of the company’s stock worth $37,664,000 after purchasing an additional 25,000 shares during the last quarter. Invesco Ltd. boosted its position in shares of SiTime by 4.8% during the second quarter. Invesco Ltd. now owns 1,019,140 shares of the company’s stock valued at $217,158,000 after buying an additional 46,721 shares during the period. Finally, Intech Investment Management LLC grew its stake in shares of SiTime by 241.3% during the second quarter. Intech Investment Management LLC now owns 28,400 shares of the company’s stock valued at $6,051,000 after buying an additional 20,078 shares during the last quarter. 84.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SITM has been the subject of a number of recent analyst reports. UBS Group boosted their price objective on SiTime from $430.00 to $485.00 and gave the company a “buy” rating in a report on Thursday, February 5th. Roth Mkm reiterated a “buy” rating and set a $450.00 target price on shares of SiTime in a research report on Thursday, February 5th. The Goldman Sachs Group started coverage on shares of SiTime in a research note on Monday, December 15th. They set a “buy” rating and a $420.00 target price for the company. Raymond James Financial restated an “outperform” rating on shares of SiTime in a report on Tuesday, December 2nd. Finally, Stifel Nicolaus set a $450.00 price objective on shares of SiTime in a report on Thursday, February 5th. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $409.38.

SiTime Trading Down 1.5%

Shares of SiTime stock opened at $414.05 on Wednesday. The stock’s fifty day moving average price is $371.14 and its 200-day moving average price is $308.07. The firm has a market cap of $10.89 billion, a P/E ratio of -227.50 and a beta of 2.51. SiTime Corporation has a 12 month low of $105.40 and a 12 month high of $446.95.

SiTime (NASDAQ:SITM) last issued its earnings results on Wednesday, February 4th. The company reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.33. SiTime had a negative net margin of 13.13% and a negative return on equity of 2.06%. The company had revenue of $113.29 million for the quarter, compared to analysts’ expectations of $101.91 million. During the same period in the prior year, the business earned $0.48 EPS. The firm’s quarterly revenue was up 66.3% on a year-over-year basis. Analysts forecast that SiTime Corporation will post -2.44 earnings per share for the current year.

Insider Buying and Selling at SiTime

In other SiTime news, insider Fariborz Assaderaghi sold 2,112 shares of the stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $428.08, for a total transaction of $904,104.96. Following the sale, the insider owned 97,937 shares of the company’s stock, valued at approximately $41,924,870.96. This trade represents a 2.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Rajesh Vashist sold 2,000 shares of SiTime stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $369.20, for a total value of $738,400.00. Following the completion of the transaction, the chief executive officer owned 431,609 shares in the company, valued at $159,350,042.80. This represents a 0.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 24,712 shares of company stock valued at $9,562,777. 2.30% of the stock is owned by corporate insiders.

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.