Legal & General Group Plc Takes $22.70 Million Position in SiTime Corporation $SITM

Legal & General Group Plc purchased a new stake in shares of SiTime Corporation (NASDAQ:SITM) during the second quarter, Holdings Channel reports. The institutional investor purchased 30,442 shares of the company’s stock, valued at approximately $22,696,000.

Several other institutional investors and hedge funds also recently bought and sold shares of SITM. The Manufacturers Life Insurance Company purchased a new stake in shares of SiTime during the second quarter worth $11,831,000. Tairen Capital Ltd purchased a new position in shares of SiTime in the second quarter valued at $9,320,000. Sanctuary Advisors LLC purchased a new position in shares of SiTime in the second quarter valued at $995,000. Polymer Capital Management HK LTD bought a new stake in shares of SiTime during the 2nd quarter valued at $1,491,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of SiTime during the 2nd quarter valued at $31,762,000. 84.31% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the company. Benchmark began coverage on SiTime in a research note on Wednesday, August 19th. They issued a “buy” rating and a $850.00 target price for the company. Wall Street Zen upgraded SiTime from a “hold” rating to a “buy” rating in a research report on Sunday, July 12th. Barclays raised shares of SiTime from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $400.00 to $850.00 in a report on Thursday, May 7th. The Goldman Sachs Group restated a “buy” rating and issued a $900.00 price objective on shares of SiTime in a research report on Thursday, August 6th. Finally, Weiss Ratings raised shares of SiTime from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, SiTime has an average rating of “Buy” and a consensus target price of $761.25.

Insider Buying and Selling

In related news, Director Raman Chitkara sold 2,000 shares of the firm’s stock in a transaction that occurred 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 sale, the director directly owned 19,898 shares of the company’s stock, 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 document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Christine Heckart sold 1,290 shares of SiTime stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $700.00, for a total value of $903,000.00. Following the sale, the director directly owned 790 shares of the company’s stock, valued at approximately $553,000. This trade represents a 62.02% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 66,840 shares of company stock valued at $47,960,638 in the last 90 days. 1.40% of the stock is owned by company insiders.

SiTime Price Performance

NASDAQ:SITM opened at $557.86 on Friday. The firm has a market capitalization of $16.77 billion, a price-to-earnings ratio of 1,138.49 and a beta of 2.94. SiTime Corporation has a 52-week low of $222.12 and a 52-week high of $901.81. The stock has a fifty day moving average of $620.85 and a 200 day moving average of $557.68. The company has a debt-to-equity ratio of 1.29, a quick ratio of 18.50 and a current ratio of 19.44.

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