Connor Clark & Lunn Investment Management Ltd. Purchases Shares of 42,601 SiTime Corporation $SITM

Key Points

• Connor Clark & Lunn Investment Management purchased 42,601 SiTime shares valued at approximately $31.8 million, while other institutions also established positions; institutional investors now own 84.31% of the company.
• SiTime reported quarterly EPS of $2.34, exceeding estimates of $1.95, while revenue rose 126.5% year over year to $157.43 million. The stock was recently trading at $580.97, down 5.5%.
• Analyst sentiment remains broadly positive, with an average “Buy” rating and a consensus price target of $706.67, although company insiders sold 68,340 shares worth approximately $49.0 million in the last quarter.

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of SiTime Corporation (NASDAQ:SITM - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 42,601 shares of the company's stock, valued at approximately $31,762,000. Connor Clark & Lunn Investment Management Ltd. owned 0.14% of SiTime at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of SITM. Meiji Yasuda Asset Management Co Ltd. acquired a new stake in SiTime in the 2nd quarter valued at approximately $2,370,000. Elevation Point Wealth Partners LLC acquired a new position in SiTime during the 2nd quarter worth approximately $203,000. Greenland Capital Management LP bought a new position in shares of SiTime during the 2nd quarter worth approximately $485,000. Quantbot Technologies LP bought a new position in shares of SiTime during the 2nd quarter worth approximately $63,000. Finally, Emerald Investment Advisers LLC acquired a new stake in shares of SiTime in the second quarter valued at approximately $11,829,000. 84.31% of the stock is currently owned by institutional investors.

SiTime Trading Down 5.5%

SiTime stock opened at $580.97 on Tuesday. SiTime Corporation has a 52 week low of $222.12 and a 52 week high of $901.81. 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 market capitalization of $17.47 billion, a P/E ratio of 1,185.65 and a beta of 2.94. The stock has a 50-day simple moving average of $630.27 and a 200 day simple moving average of $553.35.

SiTime (NASDAQ:SITM - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $2.34 earnings per share (EPS) for the quarter, beating 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 company had revenue of $157.43 million during the quarter, compared to analysts' expectations of $146.46 million. During the same period last year, the firm posted $0.47 earnings per share. The business's revenue was up 126.5% on a year-over-year basis. SiTime has set its Q3 2026 guidance at 3.500-3.650 EPS. Analysts expect that SiTime Corporation will post 6.33 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently commented on SITM. UBS Group boosted their price objective on shares of SiTime from $775.00 to $840.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. The Goldman Sachs Group reiterated a "buy" rating and issued a $900.00 price target on shares of SiTime in a research note on Thursday, August 6th. Barclays raised shares of SiTime from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $400.00 to $850.00 in a research report on Thursday, May 7th. Weiss Ratings restated a "sell (d-)" rating on shares of SiTime in a report on Friday, July 17th. Finally, Needham & Company LLC upped their target price on SiTime from $850.00 to $900.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Two 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. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $706.67.

Insiders Place Their Bets

In other news, Director Torsten Kreindl sold 1,050 shares of the stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $721.67, for a total value of $757,753.50. Following the transaction, the director directly owned 12,481 shares of the company's stock, valued at $9,007,163.27. This represents a 7.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Edward H. Frank sold 1,000 shares of the firm's stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $745.00, for a total transaction of $745,000.00. Following the sale, the director owned 10,999 shares of the company's stock, valued at approximately $8,194,255. This represents a 8.33% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 68,340 shares of company stock worth $49,029,718 in the last quarter. Company insiders own 1.40% of the company's stock.

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.

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