Stephens Investment Management Group LLC Acquires Shares of 69,885 SiTime Corporation $SITM

Stephens Investment Management Group LLC acquired a new stake in SiTime Corporation (NASDAQ:SITM) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 69,885 shares of the company’s stock, valued at approximately $24,135,000. Stephens Investment Management Group LLC owned 0.26% of SiTime at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. grew its position in SiTime by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 2,825,402 shares of the company’s stock valued at $997,904,000 after acquiring an additional 61,336 shares during the period. Invesco Ltd. lifted its holdings in shares of SiTime by 1.8% during the third quarter. Invesco Ltd. now owns 1,037,305 shares of the company’s stock valued at $312,550,000 after acquiring an additional 18,165 shares during the period. State Street Corp boosted its stake in shares of SiTime by 3.7% in the 2nd quarter. State Street Corp now owns 911,280 shares of the company’s stock valued at $194,176,000 after purchasing an additional 32,178 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of SiTime by 22.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 736,281 shares of the company’s stock valued at $156,887,000 after purchasing an additional 132,948 shares in the last quarter. Finally, Whale Rock Capital Management LLC grew its holdings in shares of 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 last quarter. Institutional investors own 84.31% of the company’s stock.

Insider Buying and Selling at SiTime

In related news, insider Piyush B. Sevalia sold 2,419 shares of SiTime stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $484.05, for a total value of $1,170,916.95. Following the completion of the sale, the insider directly owned 84,250 shares in the company, valued at $40,781,212.50. This trade represents a 2.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Rajesh Vashist sold 30,000 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $701.13, for a total value of $21,033,900.00. Following the sale, the chief executive officer directly owned 402,898 shares of the company’s stock, valued at $282,483,874.74. This represents a 6.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 73,375 shares of company stock valued at $51,931,438 over the last ninety days. Company insiders own 1.40% of the company’s stock.

Analysts Set New Price Targets

SITM has been the topic of a number of recent analyst reports. Needham & Company LLC boosted their price target on shares of SiTime from $450.00 to $850.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. UBS Group lifted their target price on shares of SiTime from $675.00 to $775.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of SiTime in a report on Tuesday, April 21st. Zacks Research upgraded SiTime from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 15th. Finally, Wall Street Zen downgraded SiTime from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $661.88.

SiTime Stock Performance

Shares of SITM stock opened at $601.66 on Monday. SiTime Corporation has a 1 year low of $186.49 and a 1 year high of $901.81. The firm’s 50 day moving average is $695.57 and its 200-day moving average is $490.79. The firm has a market capitalization of $15.88 billion, a price-to-earnings ratio of -595.70 and a beta of 2.91.

SiTime (NASDAQ:SITM) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.30. The firm had revenue of $113.57 million for the quarter, compared to the consensus estimate of $103.51 million. SiTime had a positive return on equity of 0.53% and a negative net margin of 6.38%.The business’s revenue for the quarter was up 88.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.26 EPS. On average, equities research analysts forecast that SiTime Corporation will post 3.23 earnings per share for the current fiscal 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.