Summit Global Investments Purchases New Position in SiTime Corporation $SITM

Summit Global Investments purchased a new position in SiTime Corporation (NASDAQ:SITM) in the second quarter, HoldingsChannel reports. The fund purchased 1,215 shares of the company’s stock, valued at approximately $906,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Rakuten Securities Inc. boosted its position in SiTime by 188.5% during the 4th quarter. Rakuten Securities Inc. now owns 75 shares of the company’s stock valued at $26,000 after acquiring an additional 49 shares in the last quarter. Parallel Advisors LLC raised its position in shares of SiTime by 26.2% in the 1st quarter. Parallel Advisors LLC now owns 77 shares of the company’s stock worth $27,000 after acquiring an additional 16 shares in the last quarter. Larson Financial Group LLC raised its position in shares of SiTime by 3,200.0% in the 3rd quarter. Larson Financial Group LLC now owns 99 shares of the company’s stock worth $30,000 after acquiring an additional 96 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of SiTime in the 4th quarter valued at approximately $33,000. Finally, Danske Bank A S purchased a new position in shares of SiTime in the 4th quarter valued at approximately $35,000. 84.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on SITM. Zacks Research raised SiTime from a “hold” rating to a “strong-buy” rating in a research note on Thursday. Wall Street Zen raised SiTime from a “hold” rating to a “buy” rating in a research report on Sunday, July 12th. Weiss Ratings restated a “sell (d-)” rating on shares of SiTime in a report on Friday, July 17th. UBS Group upped their target price on shares of SiTime from $775.00 to $840.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Finally, Needham & Company LLC increased their price target on shares of SiTime from $850.00 to $900.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $688.75.

Insider Transactions at SiTime

In other news, Director Raman Chitkara sold 2,000 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $727.38, for a total transaction of $1,454,760.00. Following the completion of the transaction, the director directly owned 19,898 shares in the company, valued at $14,473,407.24. This trade represents a 9.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Katherine Schuelke sold 500 shares of SiTime 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 completion of the transaction, the director directly owned 12,010 shares of the company’s stock, valued at approximately $8,383,580.50. This represents a 4.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 69,759 shares of company stock valued at $50,046,035. 1.40% of the stock is currently owned by corporate insiders.

SiTime Stock Performance

Shares of SITM opened at $711.91 on Friday. The company has a quick ratio of 18.50, a current ratio of 19.44 and a debt-to-equity ratio of 1.29. The business’s 50 day moving average price is $637.05 and its 200-day moving average price is $540.22. SiTime Corporation has a 52 week low of $204.60 and a 52 week high of $901.81. The stock has a market cap of $21.41 billion, a P/E ratio of 1,452.88 and a beta of 2.94.

SiTime (NASDAQ:SITM) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $2.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.95 by $0.39. The company had revenue of $157.43 million during the quarter, compared to analyst estimates of $146.46 million. SiTime had a return on equity of 4.99% and a net margin of 3.01%.The firm’s revenue for the quarter was up 126.5% on a year-over-year basis. During the same quarter last year, the company earned $0.47 EPS. SiTime has set its Q3 2026 guidance at 3.500-3.650 EPS. Equities research analysts anticipate that SiTime Corporation will post 6.33 earnings per share for the current fiscal year.

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.