165,330 Shares in SiTime Corporation $SITM Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp bought a new position in shares of SiTime Corporation (NASDAQ:SITM - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 165,330 shares of the company's stock, valued at approximately $123,264,000. Bank of New York Mellon Corp owned about 0.63% of SiTime as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also made changes to their positions in the business. State of Wyoming bought a new position in SiTime in the 2nd quarter worth approximately $248,000. GSA Capital Partners LLP acquired a new stake in SiTime during the 2nd quarter worth $775,000. USA Financial Formulas bought a new stake in shares of SiTime during the 1st quarter valued at $33,000. Summit Global Investments acquired a new position in shares of SiTime in the 2nd quarter valued at $906,000. Finally, Handelsbanken Fonder AB lifted its stake in shares of SiTime by 6.7% in the 2nd quarter. Handelsbanken Fonder AB now owns 7,624 shares of the company's stock valued at $5,684,000 after purchasing an additional 480 shares during the period. 84.31% of the stock is owned by institutional investors.

SiTime Price Performance

Shares of SITM opened at $614.83 on Monday. SiTime Corporation has a 52 week low of $221.52 and a 52 week high of $901.81. The stock has a market capitalization of $18.49 billion, a price-to-earnings ratio of 1,254.76 and a beta of 2.94. The company has a debt-to-equity ratio of 1.29, a quick ratio of 18.50 and a current ratio of 19.44. The stock has a fifty day moving average of $633.50 and a 200-day moving average of $551.73.

SiTime (NASDAQ:SITM - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $2.34 earnings per share for the quarter, topping analysts' consensus estimates of $1.95 by $0.39. SiTime had a return on equity of 4.99% and a net margin of 3.01%.The business had revenue of $157.43 million for the quarter, compared to analyst estimates of $146.46 million. During the same quarter in the previous year, the company posted $0.47 EPS. SiTime's quarterly revenue was up 126.5% compared to the same quarter last year. SiTime has set its Q3 2026 guidance at 3.500-3.650 EPS. As a group, sell-side analysts anticipate that SiTime Corporation will post 6.33 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently commented on SITM shares. UBS Group upped their price objective on shares of SiTime from $775.00 to $840.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Wall Street Zen upgraded SiTime from a "hold" rating to a "buy" rating in a research note on Sunday, July 12th. Roth Capital reissued a "buy" rating and set a $900.00 price target on shares of SiTime in a research report on Thursday, May 7th. Needham & Company LLC increased their price target on SiTime from $850.00 to $900.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Finally, Benchmark assumed coverage on shares of SiTime in a research report on Wednesday. They issued a "buy" rating and a $850.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, SiTime has an average rating of "Buy" and a consensus price target of $706.67.

Insider Buying and Selling

In related news, insider Fariborz Assaderaghi sold 1,500 shares of the company's stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $712.72, for a total value of $1,069,080.00. Following the sale, the insider directly owned 79,936 shares in the company, valued at $56,971,985.92. This represents a 1.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Raman Chitkara sold 2,000 shares of the 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 sale, the director owned 19,898 shares of the company's stock, valued at approximately $14,473,407.24. This trade represents a 9.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 68,340 shares of company stock valued at $49,029,718 over the last 90 days. 1.40% of the stock is currently owned by corporate insiders.

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.

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