Thornburg Investment Management Inc. Has $6.34 Million Stake in SiTime Corporation $SITM

Thornburg Investment Management Inc. raised its position in shares of SiTime Corporation (NASDAQ:SITM) by 31.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,037 shares of the company’s stock after purchasing an additional 5,037 shares during the quarter. Thornburg Investment Management Inc. owned 0.08% of SiTime worth $6,339,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of SITM. Optiver Holding B.V. raised its position in SiTime by 56.1% during the third quarter. Optiver Holding B.V. now owns 89 shares of the company’s stock valued at $27,000 after buying an additional 32 shares during the period. Verdence Capital Advisors LLC boosted its holdings in shares of SiTime by 3.7% during the third quarter. Verdence Capital Advisors LLC now owns 1,118 shares of the company’s stock worth $309,000 after purchasing an additional 40 shares during the period. Bessemer Group Inc. grew its position in SiTime by 27.4% during the third quarter. Bessemer Group Inc. now owns 186 shares of the company’s stock valued at $55,000 after purchasing an additional 40 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in SiTime by 10.9% in the 3rd quarter. Smartleaf Asset Management LLC now owns 427 shares of the company’s stock valued at $125,000 after buying an additional 42 shares during the period. Finally, Lazard Asset Management LLC lifted its position in SiTime by 7.7% in the 2nd quarter. Lazard Asset Management LLC now owns 654 shares of the company’s stock worth $139,000 after buying an additional 47 shares in the last quarter. Institutional investors and hedge funds own 84.31% of the company’s stock.

SiTime Price Performance

SITM stock opened at $397.86 on Friday. The stock has a market capitalization of $10.46 billion, a price-to-earnings ratio of -218.60 and a beta of 2.51. The company has a 50-day moving average of $376.45 and a two-hundred day moving average of $316.46. SiTime Corporation has a 52-week low of $105.40 and a 52-week high of $446.95.

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

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Barclays set a $400.00 price objective on SiTime in a report on Thursday, February 5th. Roth Mkm reaffirmed a “buy” rating and set a $450.00 price objective on shares of SiTime in a research report on Thursday, February 5th. Weiss Ratings restated a “sell (d-)” rating on shares of SiTime in a report on Thursday, January 22nd. Loop Capital initiated coverage on SiTime in a report on Friday, November 21st. They set a “buy” rating and a $350.00 target price on the stock. Finally, The Goldman Sachs Group began coverage on SiTime in a research note on Monday, December 15th. They set a “buy” rating and a $420.00 price target for the company. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, SiTime currently has a consensus rating of “Moderate Buy” and an average price target of $409.38.

Insider Buying and Selling

In other news, insider Piyush B. Sevalia sold 566 shares of the business’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $413.08, for a total transaction of $233,803.28. Following the transaction, the insider owned 93,489 shares in the company, valued at approximately $38,618,436.12. The trade was a 0.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Rajesh Vashist sold 2,000 shares of the stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $369.20, for a total transaction of $738,400.00. Following the completion of the sale, the chief executive officer owned 431,609 shares of the company’s stock, valued at approximately $159,350,042.80. The trade was a 0.46% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 30,262 shares of company stock worth $11,822,327. 2.10% 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.