Diversified Trust Co Buys Shares of 948 SiTime Corporation $SITM

Diversified Trust Co purchased a new position in shares of SiTime Corporation (NASDAQ:SITM) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 948 shares of the company’s stock, valued at approximately $327,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank acquired a new stake in shares of SiTime during the fourth quarter worth $83,977,000. Whale Rock Capital Management LLC boosted its stake in SiTime by 45.4% in the 4th quarter. Whale Rock Capital Management LLC now owns 698,539 shares of the company’s stock worth $246,717,000 after purchasing an additional 218,038 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in SiTime by 61.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 562,892 shares of the company’s stock worth $198,808,000 after purchasing an additional 213,242 shares in the last quarter. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of SiTime in the 4th quarter valued at about $59,452,000. Finally, Wellington Management Group LLP lifted its holdings in shares of SiTime by 36.8% in the third quarter. Wellington Management Group LLP now owns 537,741 shares of the company’s stock valued at $162,027,000 after purchasing an additional 144,671 shares in the last quarter. 84.31% of the stock is currently owned by institutional investors and hedge funds.

SiTime Trading Down 0.5%

Shares of NASDAQ SITM opened at $672.19 on Friday. The business’s 50 day moving average is $679.31 and its 200-day moving average is $479.34. The firm has a market cap of $17.75 billion, a P/E ratio of -665.53 and a beta of 2.94. SiTime Corporation has a 1-year low of $186.49 and a 1-year high of $901.81.

SiTime (NASDAQ:SITM) last posted its earnings results on Wednesday, May 6th. The company reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $103.51 million. During the same quarter last year, the firm earned $0.26 earnings per share. The company’s revenue was up 88.3% on a year-over-year basis. Analysts forecast that SiTime Corporation will post 3.23 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on SITM shares. Stifel Nicolaus upped their price objective on SiTime from $450.00 to $500.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th. The Goldman Sachs Group restated a “buy” rating and issued a $800.00 target price on shares of SiTime in a research note on Thursday, May 7th. Barclays raised SiTime from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $400.00 to $850.00 in a research report on Thursday, May 7th. UBS Group lifted their price objective on shares of SiTime from $675.00 to $775.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Finally, Needham & Company LLC boosted their price objective on shares of SiTime from $450.00 to $850.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat, SiTime has a consensus rating of “Moderate Buy” and a consensus price target of $661.88.

Insider Activity at SiTime

In related news, CEO Rajesh Vashist sold 15,000 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $750.20, for a total transaction of $11,253,000.00. Following the completion of the sale, the chief executive officer directly owned 387,898 shares in the company, valued at $291,001,079.60. This represents a 3.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Torsten Kreindl sold 710 shares of the company’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $720.00, for a total value of $511,200.00. Following the completion of the sale, the director owned 13,141 shares in the company, valued at $9,461,520. This trade represents a 5.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 73,375 shares of company stock worth $51,931,438 in the last quarter. 1.40% of the stock is currently 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.