Sei Investments Co. Acquires 11,619 Shares of SiTime Corporation $SITM

Sei Investments Co. lifted its holdings in shares of SiTime Corporation (NASDAQ:SITM) by 53.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,524 shares of the company’s stock after purchasing an additional 11,619 shares during the quarter. Sei Investments Co.’s holdings in SiTime were worth $11,580,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of SITM. Parallel Advisors LLC raised its stake in SiTime by 26.2% in the first quarter. Parallel Advisors LLC now owns 77 shares of the company’s stock valued at $27,000 after purchasing an additional 16 shares in the last quarter. Los Angeles Capital Management LLC lifted its position in SiTime by 0.3% during the fourth quarter. Los Angeles Capital Management LLC now owns 9,023 shares of the company’s stock valued at $3,187,000 after purchasing an additional 25 shares during the last quarter. CWM LLC grew its stake in SiTime by 4.2% in the 4th quarter. CWM LLC now owns 951 shares of the company’s stock worth $336,000 after buying an additional 38 shares in the last quarter. Corient Private Wealth LLC grew its stake in SiTime by 5.9% in the 4th quarter. Corient Private Wealth LLC now owns 703 shares of the company’s stock worth $249,000 after buying an additional 39 shares in the last quarter. Finally, Lazard Asset Management LLC increased its holdings in shares of 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 during the last quarter. 84.31% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on SITM shares. Zacks Research cut shares of SiTime from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Roth Capital reiterated a “buy” rating and issued a $900.00 target price on shares of SiTime in a research report on Thursday, May 7th. Wall Street Zen raised SiTime from a “hold” rating to a “buy” rating in a research note on Sunday, July 12th. Needham & Company LLC raised their price target on SiTime from $450.00 to $850.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SiTime in a research note on Friday, July 17th. Eight research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $661.88.

SiTime Price Performance

Shares of NASDAQ SITM opened at $535.20 on Friday. SiTime Corporation has a one year low of $186.49 and a one year high of $901.81. The firm’s 50 day simple moving average is $647.50 and its two-hundred day simple moving average is $519.67. The stock has a market capitalization of $14.13 billion, a P/E ratio of -529.90 and a beta of 2.91.

SiTime (NASDAQ:SITM) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $1.44 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 negative net margin of 6.38% and a positive return on equity of 0.53%. The business’s revenue was up 88.3% compared to the same quarter last year. During the same period last year, the firm posted $0.26 earnings per share. As a group, equities analysts expect that SiTime Corporation will post 3.23 earnings per share for the current fiscal year.

Insider Activity at SiTime

In other SiTime news, Director Akira Takata sold 1,500 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $860.86, for a total value of $1,291,290.00. Following the completion of the sale, the director directly owned 12,234 shares of the company’s stock, valued at $10,531,761.24. The trade was a 10.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Raman Chitkara sold 2,000 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $727.38, for a total transaction of $1,454,760.00. Following the sale, 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 ownership of the stock. 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 69,709 shares of company stock worth $50,230,546 in the last 90 days. Corporate insiders own 1.40% of the company’s stock.

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.