SiTime Corporation $SITM Shares Acquired by William Blair Investment Management LLC

William Blair Investment Management LLC lifted its holdings in shares of SiTime Corporation (NASDAQ:SITM) by 4.1% during the 2nd quarter, Holdings Channel.com reports. The fund owned 112,789 shares of the company’s stock after buying an additional 4,469 shares during the period. William Blair Investment Management LLC’s holdings in SiTime were worth $24,033,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in SITM. Alliancebernstein L.P. raised its position in shares of SiTime by 2,016.8% during the 1st quarter. Alliancebernstein L.P. now owns 443,227 shares of the company’s stock worth $67,756,000 after acquiring an additional 422,288 shares in the last quarter. Eventide Asset Management LLC grew its stake in SiTime by 5,015.9% during the 1st quarter. Eventide Asset Management LLC now owns 166,214 shares of the company’s stock worth $25,408,000 after buying an additional 162,965 shares during the last quarter. Neuberger Berman Group LLC grew its stake in SiTime by 360.8% during the 1st quarter. Neuberger Berman Group LLC now owns 135,211 shares of the company’s stock worth $20,670,000 after buying an additional 105,868 shares during the last quarter. Ameriprise Financial Inc. grew its stake in SiTime by 17.0% during the 1st quarter. Ameriprise Financial Inc. now owns 603,333 shares of the company’s stock worth $92,233,000 after buying an additional 87,598 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in SiTime by 41.9% during the 1st quarter. Wellington Management Group LLP now owns 277,590 shares of the company’s stock worth $42,435,000 after buying an additional 82,017 shares during the last quarter. Institutional investors and hedge funds own 84.31% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Stifel Nicolaus raised their price target on SiTime from $230.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday, September 18th. Raymond James Financial reiterated an “outperform” rating and issued a $270.00 target price (up from $250.00) on shares of SiTime in a research note on Friday, August 29th. Barclays lifted their target price on SiTime from $180.00 to $220.00 and gave the company an “underweight” rating in a research note on Thursday, August 7th. UBS Group lifted their target price on SiTime from $260.00 to $355.00 and gave the company a “buy” rating in a research note on Monday, October 6th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of SiTime in a research note on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $274.17.

Insider Activity

In other SiTime news, insider Samsheer Ahamad sold 3,811 shares of the company’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $255.03, for a total transaction of $971,919.33. Following the sale, the insider owned 58,077 shares in the company, valued at $14,811,377.31. This represents a 6.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Elizabeth A. Howe sold 5,099 shares of the stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $319.00, for a total value of $1,626,581.00. Following the sale, the executive vice president owned 59,070 shares in the company, valued at $18,843,330. The trade was a 7.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,367 shares of company stock valued at $9,330,713 over the last three months. Company insiders own 2.30% of the company’s stock.

SiTime Stock Down 5.5%

NASDAQ SITM opened at $272.67 on Monday. SiTime Corporation has a fifty-two week low of $105.40 and a fifty-two week high of $323.66. The stock has a market cap of $7.09 billion, a price-to-earnings ratio of -78.35 and a beta of 2.35. The business has a fifty day moving average of $264.99 and a 200-day moving average of $214.89.

SiTime (NASDAQ:SITM) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.18. SiTime had a negative return on equity of 7.54% and a negative net margin of 32.15%.The business had revenue of $69.49 million during the quarter, compared to the consensus estimate of $64.66 million. During the same quarter in the previous year, the business earned $0.12 earnings per share. The business’s revenue for the quarter was up 58.3% on a year-over-year basis. As a group, analysts anticipate that SiTime Corporation will post -2.44 EPS for the current year.

SiTime Profile

SiTime Corporation designs, develops, and sells silicon timing systems solutions in Taiwan, Hong Kong, the United States, Singapore, and internationally. The company provides resonators and clock integrated circuits, and various types of oscillators. It serves various markets, including communications, datacenter, enterprise, automotive, industrial, internet of things, mobile, consumer, and aerospace and defense.