Goldman Sachs Group Inc. Has $88.20 Million Stake in SiTime Corporation $SITM

Goldman Sachs Group Inc. grew its stake in SiTime Corporation (NASDAQ:SITM) by 13.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 249,714 shares of the company’s stock after acquiring an additional 30,464 shares during the period. Goldman Sachs Group Inc.’s holdings in SiTime were worth $88,196,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of SITM. Norges Bank bought a new position in shares of SiTime in the 4th quarter valued at about $83,977,000. Wellington Management Group LLP grew its holdings in shares of SiTime by 36.8% in the 3rd quarter. Wellington Management Group LLP now owns 537,741 shares of the company’s stock valued at $162,027,000 after acquiring an additional 144,671 shares in the last quarter. Ameriprise Financial Inc. grew its holdings 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 acquiring an additional 132,948 shares in the last quarter. FengHe Fund Management Pte. Ltd. bought a new position in shares of SiTime in the 4th quarter valued at about $45,346,000. Finally, Vanguard Group Inc. grew its holdings in shares of SiTime by 4.7% in the 3rd quarter. Vanguard Group Inc. now owns 2,764,066 shares of the company’s stock valued at $832,841,000 after acquiring an additional 123,287 shares in 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 transaction of $1,170,916.95. Following the completion of the transaction, the insider owned 84,250 shares in the company, valued at approximately $40,781,212.50. This trade represents a 2.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Rajesh Vashist sold 30,000 shares of SiTime 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 transaction, the chief executive officer owned 402,898 shares of the company’s stock, valued at $282,483,874.74. The trade was a 6.93% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 52,624 shares of company stock valued at $35,942,053 in the last three months. Corporate insiders own 1.40% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Zacks Research upgraded SiTime from a “hold” rating to a “strong-buy” rating in a report on Friday, May 15th. Stifel Nicolaus raised their price objective on SiTime from $450.00 to $500.00 and gave the company a “buy” rating in a report on Thursday, April 16th. Roth Mkm restated a “buy” rating and issued a $900.00 price objective on shares of SiTime in a report on Thursday, May 7th. Wall Street Zen upgraded SiTime from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Finally, UBS Group raised their price objective on SiTime from $675.00 to $775.00 and gave the company a “buy” rating in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $661.88.

SiTime Stock Performance

SiTime stock opened at $659.52 on Wednesday. SiTime Corporation has a 52 week low of $186.49 and a 52 week high of $901.81. The stock has a market capitalization of $17.41 billion, a P/E ratio of -652.99 and a beta of 2.94. The stock has a 50-day simple moving average of $595.95 and a 200 day simple moving average of $443.50.

SiTime (NASDAQ:SITM) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $1.44 EPS 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 business had revenue of $113.57 million during the quarter, compared to analysts’ expectations of $103.51 million. During the same quarter last year, the company posted $0.26 earnings per share. SiTime’s quarterly revenue was up 88.3% on a year-over-year basis. Research analysts forecast that SiTime Corporation will post 3.23 earnings per share for the current year.

About SiTime

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.