1,358 Shares of SiTime Corporation $SITM Acquired by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. acquired a new position in SiTime Corporation (NASDAQ:SITM) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,358 shares of the company’s stock, valued at approximately $885,000.

A number of other hedge funds also recently bought and sold shares of SITM. Tidal Investments LLC raised its position in shares of SiTime by 231.3% in the 2nd quarter. Tidal Investments LLC now owns 7,762 shares of the company’s stock worth $5,787,000 after acquiring an additional 5,419 shares in the last quarter. Tairen Capital Ltd purchased a new stake in shares of SiTime during the 2nd quarter worth $9,320,000. Congress Asset Management Co. bought a new stake in SiTime during the third quarter valued at about $20,866,000. Jupiter Topco LLC bought a new stake in SiTime during the second quarter valued at about $7,326,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in SiTime during the second quarter valued at about $3,862,000. Hedge funds and other institutional investors own 84.31% of the company’s stock.

Insider Buying and Selling

In other news, Director Edward H. Frank sold 1,000 shares of the company’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $745.00, for a total value of $745,000.00. Following the sale, the director owned 10,999 shares in the company, valued at $8,194,255. This represents a 8.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Katherine Schuelke sold 500 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $698.05, for a total value of $349,025.00. Following the sale, the director directly owned 12,010 shares in the company, valued at approximately $8,383,580.50. This trade represents a 4.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 14,874 shares of company stock worth $9,298,908. Corporate insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SITM. Rosenblatt Securities lifted their price objective on shares of SiTime from $750.00 to $900.00 and gave the stock a “buy” rating in a research report on Tuesday, November 3rd. Needham & Company LLC initiated coverage on SiTime in a report on Thursday. They set a “buy” rating and a $600.00 price objective for the company. Roth Capital started coverage on SiTime in a research report on Friday. They issued a “buy” rating for the company. Wells Fargo & Company cut SiTime to an “underweight” rating in a research report on Friday. Finally, Citigroup lowered SiTime to a “neutral” rating in a research report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $687.00.

More SiTime News

Here are the key news stories impacting SiTime this week:

• Positive Sentiment: Seaport Global upgraded SiTime to Buy from Neutral and set a $425 price target, helping lift sentiment after the stock’s post-earnings pullback. SiTime shares surge as Seaport upgrades to Buy
• Positive Sentiment: Third-quarter results beat expectations: SiTime reported adjusted EPS of $4.01 versus the cited $3.62 consensus and revenue of $298.67 million versus $292.65 million. Revenue rose 257.4% year over year, with AI infrastructure demand and the Renesas timing acquisition contributing to growth. SiTime Q3 earnings surpass estimates
• Positive Sentiment: Needham initiated coverage with a Buy rating and a $600 price target, adding another bullish analyst view. Needham analyst recommendations
• Positive Sentiment: Management highlighted AI-driven growth and expanding optical-networking opportunities, while reporting a 70.7% gross margin. Q3 call highlights AI demand and supply constraints
• Neutral Sentiment: UBS maintained its Buy rating but cut its price target to $650 from $750, tempering the analyst outlook even as the rating remained positive. UBS analyst recommendations
• Negative Sentiment: Wafer supply constraints are expected to persist through 2027, potentially limiting SiTime’s ability to meet demand and convert its growth opportunities into sales. Q3 call highlights AI demand and supply constraints

SiTime Price Performance

Shares of NASDAQ:SITM opened at $416.92 on Monday. The company has a current ratio of 5.56, a quick ratio of 4.62 and a debt-to-equity ratio of 0.38. The company’s 50 day moving average is $562.21 and its 200 day moving average is $546.27. SiTime Corporation has a twelve month low of $243.68 and a twelve month high of $901.81. The company has a market cap of $12.54 billion, a PE ratio of 443.53 and a beta of 2.88.

SiTime shares are going to split on Monday, December 7th. The 3-1 split was recently announced. The newly issued shares will be distributed to shareholders after the market closes on Sunday, December 6th.

SiTime (NASDAQ:SITM) last announced its quarterly earnings results on Wednesday, November 4th. The company reported $4.01 earnings per share for the quarter, topping the consensus estimate of $3.62 by $0.39. The company had revenue of $298.67 million for the quarter, compared to the consensus estimate of $292.65 million. SiTime had a return on equity of 9.07% and a net margin of 3.87%. The firm’s revenue for the quarter was up 257.4% compared to the same quarter last year. During the same period last year, the firm earned $0.87 EPS. On average, sell-side analysts forecast that SiTime Corporation will post 6.37 EPS for the current year.

SiTime Company Profile

SiTime Corporation develops silicon-based timing solutions using microelectromechanical systems (MEMS) technology. Its products include MEMS resonators, oscillators and clock generators, which provide timing signals used to synchronize electronic systems.

The company’s components serve applications across communications, data centers, automotive, industrial, aerospace and defense, and consumer electronics. SiTime sells its products to customers and partners worldwide.

Founded in 2005, SiTime became part of Japan’s MegaChips in 2014 and later became a publicly traded company.