SiTime Corporation $SITM Shares Acquired by Swedbank AB

Swedbank AB lifted its position in shares of SiTime Corporation (NASDAQ:SITM) by 125.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 63,200 shares of the company’s stock after purchasing an additional 35,200 shares during the period. Swedbank AB owned about 0.24% of SiTime worth $19,043,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Invesco Ltd. lifted its holdings in SiTime by 4.8% during the 2nd quarter. Invesco Ltd. now owns 1,019,140 shares of the company’s stock worth $217,158,000 after buying an additional 46,721 shares during the last quarter. State Street Corp raised its position in shares of SiTime by 3.7% during the 2nd quarter. State Street Corp now owns 911,280 shares of the company’s stock worth $194,176,000 after acquiring an additional 32,178 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in SiTime by 22.0% during the second quarter. Ameriprise Financial Inc. now owns 736,281 shares of the company’s stock worth $156,887,000 after purchasing an additional 132,948 shares during the last quarter. Geode Capital Management LLC boosted its holdings in SiTime by 11.2% in the second quarter. Geode Capital Management LLC now owns 506,400 shares of the company’s stock valued at $107,918,000 after purchasing an additional 51,063 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in SiTime by 1.1% in the second quarter. Alliancebernstein L.P. now owns 448,036 shares of the company’s stock valued at $95,468,000 after purchasing an additional 4,809 shares in the last quarter. Hedge funds and other institutional investors own 84.31% of the company’s stock.

SiTime Trading Down 0.3%

SiTime stock opened at $377.11 on Friday. The stock has a 50 day moving average of $315.12 and a two-hundred day moving average of $265.23. SiTime Corporation has a twelve month low of $105.40 and a twelve month high of $387.52. The stock has a market capitalization of $9.84 billion, a price-to-earnings ratio of -127.40 and a beta of 2.55.

SiTime (NASDAQ:SITM) last released its earnings results on Wednesday, November 5th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.16. SiTime had a negative return on equity of 5.69% and a negative net margin of 25.18%.The business had revenue of $83.57 million for the quarter, compared to analyst estimates of $78.08 million. During the same quarter in the previous year, the company posted $0.40 earnings per share. The company’s revenue for the quarter was up 44.8% compared to the same quarter last year. Equities analysts predict that SiTime Corporation will post -2.44 earnings per share for the current year.

Insider Activity

In related news, CEO Rajesh Vashist sold 10,000 shares of the stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $329.00, for a total transaction of $3,290,000.00. Following the completion of the transaction, the chief executive officer directly owned 439,208 shares of the company’s stock, valued at $144,499,432. This represents a 2.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Elizabeth A. Howe sold 5,099 shares of SiTime stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $319.00, for a total value of $1,626,581.00. Following the completion of the sale, the executive vice president directly owned 59,070 shares in the company, valued at $18,843,330. This represents a 7.95% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 26,599 shares of company stock worth $8,267,891 in the last 90 days. Corporate insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Roth Capital restated a “buy” rating and set a $350.00 price objective on shares of SiTime in a research report on Thursday, November 6th. Needham & Company LLC lifted their price target on shares of SiTime from $250.00 to $360.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. Raymond James Financial restated an “outperform” rating on shares of SiTime in a research note on Tuesday, December 2nd. The Goldman Sachs Group started coverage on SiTime in a report on Monday, December 15th. They set a “buy” rating and a $420.00 price objective on the stock. Finally, Loop Capital initiated coverage on SiTime in a report on Friday, November 21st. They issued a “buy” rating and a $350.00 target price for the company. Seven research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $343.13.

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.