BlackRock Inc. Invests $1.78 Billion in SiTime Corporation $SITM

Key Points

• BlackRock acquired a new 9.05% stake in SiTime, purchasing 2.39 million shares valued at approximately $1.78 billion. Institutional investors collectively own 84.31% of the company.
• Analyst sentiment is broadly positive: SiTime has a “Moderate Buy” consensus rating and an average price target of $688.75, though one analyst maintains a sell rating.
• SiTime reported strong quarterly results, with EPS of $2.34 versus $1.95 expected and revenue up 126.5% year over year to $157.43 million. However, insiders sold roughly $50.3 million of shares during the last quarter.

BlackRock Inc. bought a new stake in SiTime Corporation (NASDAQ:SITM - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,390,065 shares of the company's stock, valued at approximately $1,781,937,000. BlackRock Inc. owned approximately 9.05% of SiTime as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Principal Financial Group Inc. lifted its position in shares of SiTime by 3.9% during the fourth quarter. Principal Financial Group Inc. now owns 363,953 shares of the company's stock worth $128,545,000 after purchasing an additional 13,577 shares in the last quarter. Stephens Investment Management Group LLC acquired a new stake in SiTime during the 1st quarter valued at $24,135,000. Rockefeller Capital Management L.P. increased its stake in SiTime by 1,368.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 3,259 shares of the company's stock worth $1,151,000 after buying an additional 3,037 shares during the period. Janus Henderson Group PLC increased its stake in SiTime by 13.2% during the 1st quarter. Janus Henderson Group PLC now owns 14,448 shares of the company's stock worth $4,994,000 after buying an additional 1,688 shares during the period. Finally, Bradley Foster & Sargent Inc. CT acquired a new position in SiTime in the 1st quarter worth $2,429,000. 84.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SITM. The Goldman Sachs Group reissued a "buy" rating and issued a $900.00 price objective on shares of SiTime in a research report on Thursday, August 6th. Weiss Ratings reiterated a "sell (d-)" rating on shares of SiTime in a research note on Friday, July 17th. Zacks Research raised SiTime from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 13th. Roth Capital restated a "buy" rating and set a $900.00 price objective on shares of SiTime in a research note on Thursday, May 7th. Finally, Barclays upgraded SiTime from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $400.00 to $850.00 in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, SiTime has an average rating of "Moderate Buy" and a consensus target price of $688.75.

Insider Buying and Selling

In other news, Director Christine Heckart sold 1,290 shares of SiTime stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $700.00, for a total value of $903,000.00. Following the completion of the transaction, the director owned 790 shares in the company, valued at approximately $553,000. This trade represents a 62.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Torsten Kreindl sold 1,050 shares of the business's stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $721.67, for a total value of $757,753.50. Following the completion of the sale, the director owned 12,481 shares of the company's stock, valued at $9,007,163.27. This trade represents a 7.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 70,049 shares of company stock worth $50,279,835. 1.40% of the stock is currently owned by insiders.

SiTime Price Performance

SITM opened at $618.71 on Thursday. The company has a market capitalization of $18.60 billion, a P/E ratio of 1,262.67 and a beta of 2.94. The company has a 50-day moving average of $638.25 and a 200-day moving average of $548.38. 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 Corporation has a 1-year low of $204.60 and a 1-year high of $901.81.

SiTime (NASDAQ:SITM - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $2.34 EPS for the quarter, topping the consensus estimate of $1.95 by $0.39. SiTime had a net margin of 3.01% and a return on equity of 4.99%. The business had revenue of $157.43 million for the quarter, compared to analysts' expectations of $146.46 million. During the same quarter last year, the company posted $0.47 earnings per share. The company'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. Equities analysts expect that SiTime Corporation will post 6.33 EPS for the current fiscal year.

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.

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