Engineers Gate Manager LP Sells 5,607 Shares of SiTime Corporation $SITM

Key Points

• Engineers Gate Manager LP cut its SiTime position by 79.3% in the second quarter, selling 5,607 shares and retaining 1,465 shares valued at approximately $1.09 million.
• SiTime reported quarterly EPS of $2.34, exceeding the $1.95 analyst estimate, while revenue rose 126.5% year over year to $157.43 million. Institutional investors own 84.31% of the company.
• Analysts maintain a generally positive outlook, with the stock carrying a consensus “Buy” rating and an average price target of $717.78; several firms recently raised their targets, although insiders sold 14,550 shares worth about $9.1 million over the past 90 days.

Engineers Gate Manager LP lessened its position in shares of SiTime Corporation (NASDAQ:SITM - Free Report) by 79.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,465 shares of the company's stock after selling 5,607 shares during the period. Engineers Gate Manager LP's holdings in SiTime were worth $1,092,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. bought a new position in SiTime during the second quarter worth about $1,781,937,000. Geode Capital Management LLC raised its position in shares of SiTime by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 539,425 shares of the company's stock valued at $190,550,000 after purchasing an additional 15,850 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of SiTime by 5.4% during the 1st quarter. Bank of New York Mellon Corp now owns 372,943 shares of the company's stock valued at $128,796,000 after buying an additional 18,983 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of SiTime by 13.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 249,714 shares of the company's stock valued at $88,196,000 after buying an additional 30,464 shares in the last quarter. Finally, Norges Bank bought a new position in SiTime in the 4th quarter worth approximately $83,977,000. Institutional investors own 84.31% of the company's stock.

SiTime Stock Up 2.6%

Shares of NASDAQ:SITM opened at $614.27 on Friday. SiTime Corporation has a 52-week low of $243.68 and a 52-week high of $901.81. The firm has a fifty day moving average of $597.31 and a 200 day moving average of $575.92. The firm has a market capitalization of $18.47 billion, a PE ratio of 1,253.61 and a beta of 2.86. 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 (NASDAQ:SITM - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $2.34 earnings per share for the quarter, beating analysts' consensus estimates of $1.95 by $0.39. The business had revenue of $157.43 million for the quarter, compared to the consensus estimate of $146.46 million. SiTime had a return on equity of 4.99% and a net margin of 3.01%.The company's revenue for the quarter was up 126.5% on a year-over-year basis. During the same quarter last year, the business posted $0.47 earnings per share. SiTime has set its Q3 2026 guidance at 3.500-3.650 EPS. As a group, research analysts anticipate that SiTime Corporation will post 6.33 EPS for the current fiscal year.

Insider Transactions at SiTime

In other SiTime news, Director Katherine Schuelke sold 500 shares of the company's stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $698.05, for a total value of $349,025.00. Following the completion of the sale, the director owned 12,010 shares of the company's stock, valued at $8,383,580.50. This represents a 4.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Torsten Kreindl sold 1,050 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $721.67, for a total transaction of $757,753.50. Following the transaction, the director owned 12,481 shares in the company, valued at $9,007,163.27. The trade was a 7.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 14,550 shares of company stock worth $9,093,418. 1.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on SITM shares. UBS Group lifted their price objective on shares of SiTime from $775.00 to $840.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Weiss Ratings raised SiTime from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, September 8th. Needham & Company LLC lifted their price target on SiTime from $850.00 to $900.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Zacks Research upgraded SiTime from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 13th. Finally, Morgan Stanley initiated coverage on SiTime in a research note on Thursday. They set an "overweight" rating and a $370.00 price objective on the stock. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $717.78.

About SiTime

SiTime Corporation NASDAQ: SITM is a semiconductor company that develops precision timing solutions based on microelectromechanical systems (MEMS) technology. Its products are designed to generate, distribute and synchronize the timing signals used by electronic systems and are intended to provide alternatives to traditional quartz-based timing components.

The company's portfolio includes MEMS oscillators, clock generators, clock buffers, resonators and related timing devices. These products are used in applications such as data centers, wired and wireless communications infrastructure, automotive systems, industrial equipment, consumer electronics, aerospace and defense systems, and other high-performance electronic devices.

SiTime was founded in 2004 and is headquartered in Santa Clara, California.

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