KBC Group NV Grows Stock Holdings in SiTime Corporation $SITM

KBC Group NV increased its position in SiTime Corporation (NASDAQ:SITM) by 19.9% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 8,807 shares of the company’s stock after buying an additional 1,464 shares during the quarter. KBC Group NV’s holdings in SiTime were worth $3,041,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of SITM. Principal Financial Group Inc. grew its position in shares of SiTime by 3.9% during the fourth quarter. Principal Financial Group Inc. now owns 363,953 shares of the company’s stock worth $128,545,000 after purchasing an additional 13,577 shares in the last quarter. Rockefeller Capital Management L.P. lifted its holdings in SiTime by 1,368.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 3,259 shares of the company’s stock worth $1,151,000 after purchasing an additional 3,037 shares in the last quarter. Stephens Investment Management Group LLC purchased a new position in SiTime in the 1st quarter worth approximately $24,135,000. FengHe Fund Management Pte. Ltd. bought a new position in SiTime in the 4th quarter worth approximately $45,346,000. Finally, Berkshire Capital Holdings Inc. bought a new position in SiTime in the 4th quarter worth approximately $2,889,000. Hedge funds and other institutional investors own 84.31% of the company’s stock.

SiTime Trading Down 3.8%

Shares of SiTime stock opened at $554.46 on Friday. The firm has a market cap of $14.64 billion, a PE ratio of -548.97 and a beta of 2.91. The stock has a 50 day moving average of $667.85 and a 200 day moving average of $513.77. SiTime Corporation has a 12 month low of $186.49 and a 12 month high of $901.81.

SiTime (NASDAQ:SITM) last released its quarterly earnings data on Wednesday, May 6th. The company reported $1.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.30. The business 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 company’s revenue was up 88.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.26 EPS. As a group, equities research analysts forecast that SiTime Corporation will post 3.23 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SITM has been the subject of a number of research analyst reports. Stifel Nicolaus increased their price objective on shares of SiTime from $450.00 to $500.00 and gave the company a “buy” rating in a report on Thursday, April 16th. Roth Capital restated a “buy” rating and set a $900.00 target price on shares of SiTime in a research report on Thursday, May 7th. Needham & Company LLC upped their target price 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. The Goldman Sachs Group reaffirmed a “buy” rating and set a $800.00 target price on shares of SiTime in a research note on Thursday, May 7th. Finally, Zacks Research cut shares of SiTime from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Eight analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, SiTime currently has an average rating of “Moderate Buy” and an average target price of $661.88.

Insider Activity at SiTime

In related news, Director Akira Takata sold 1,500 shares of SiTime stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $860.86, for a total transaction of $1,291,290.00. Following the completion of the transaction, the director directly owned 12,234 shares of the company’s stock, valued at approximately $10,531,761.24. The trade was a 10.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Raman Chitkara sold 2,000 shares of the business’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $727.38, for a total value of $1,454,760.00. Following the transaction, the director owned 19,898 shares of the company’s stock, valued at approximately $14,473,407.24. The trade was a 9.13% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 69,709 shares of company stock valued at $50,230,546 over the last three months. Corporate insiders own 1.40% of the company’s stock.

SiTime 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.