KBC Group NV Has $2.59 Million Stock Position in SiTime Corporation $SITM

Key Points

• KBC Group NV raised its stake in SiTime by 41.6% in Q4 to 7,343 shares (an additional 2,159 shares) valued at about $2.59 million at the end of the period.
• Analysts are broadly positive: seven Buy, one Hold and one Sell give SiTime an average rating of "Moderate Buy" with an average target of $415.63, and several firms recently raised targets (e.g., Stifel $500, UBS $485).
• SiTime reported a strong quarter—EPS $1.53 vs. $1.20 expected and revenue $113.29M (up 66.3% YoY)—and the stock is trading near its one-year high (~$503.63) with a $13.3 billion market cap.

KBC Group NV increased its holdings in shares of SiTime Corporation (NASDAQ:SITM - Free Report) by 41.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,343 shares of the company's stock after buying an additional 2,159 shares during the quarter. KBC Group NV's holdings in SiTime were worth $2,593,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Optiver Holding B.V. lifted its stake in shares of SiTime by 56.1% in the 3rd quarter. Optiver Holding B.V. now owns 89 shares of the company's stock valued at $27,000 after acquiring an additional 32 shares during the last quarter. Hantz Financial Services Inc. increased its holdings in SiTime by 190.3% in the 3rd quarter. Hantz Financial Services Inc. now owns 90 shares of the company's stock worth $27,000 after purchasing an additional 59 shares in the last quarter. Larson Financial Group LLC raised its position in SiTime by 3,200.0% in the third quarter. Larson Financial Group LLC now owns 99 shares of the company's stock valued at $30,000 after purchasing an additional 96 shares during the last quarter. Bernard Wealth Management Corp. bought a new position in SiTime in the fourth quarter valued at about $41,000. Finally, Salomon & Ludwin LLC acquired a new stake in shares of SiTime during the third quarter valued at about $47,000. 84.31% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on SITM. Roth Mkm restated a "buy" rating and set a $450.00 price target on shares of SiTime in a report on Thursday, February 5th. UBS Group raised their price objective on shares of SiTime from $430.00 to $485.00 and gave the company a "buy" rating in a report on Thursday, February 5th. Needham & Company LLC boosted their target price on shares of SiTime from $400.00 to $450.00 and gave the stock a "buy" rating in a report on Thursday, February 5th. Barclays set a $400.00 target price on shares of SiTime in a report on Thursday, February 5th. Finally, Stifel Nicolaus raised their price target on shares of SiTime from $450.00 to $500.00 and gave the company a "buy" rating in a research note on Thursday. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, SiTime has an average rating of "Moderate Buy" and an average target price of $415.63.

SiTime Price Performance

SiTime stock opened at $503.63 on Monday. The stock's 50 day moving average is $384.27 and its 200 day moving average is $347.30. SiTime Corporation has a one year low of $123.59 and a one year high of $505.00. The firm has a market cap of $13.30 billion, a P/E ratio of -276.72 and a beta of 2.57.

SiTime (NASDAQ:SITM - Get Free Report) last released its earnings results on Wednesday, February 4th. The company reported $1.53 earnings per share for the quarter, beating analysts' consensus estimates of $1.20 by $0.33. SiTime had a negative net margin of 13.13% and a negative return on equity of 2.06%. The business had revenue of $113.29 million during the quarter, compared to the consensus estimate of $101.91 million. During the same quarter in the prior year, the firm posted $0.48 EPS. The company's revenue for the quarter was up 66.3% compared to the same quarter last year. Equities analysts anticipate that SiTime Corporation will post -2.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Fariborz Assaderaghi sold 4,984 shares of SiTime stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $406.45, for a total value of $2,025,746.80. Following the completion of the transaction, the insider directly owned 89,194 shares of the company's stock, valued at approximately $36,252,901.30. This trade represents a 5.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Raman Chitkara sold 501 shares of the business's stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $425.03, for a total value of $212,940.03. Following the completion of the transaction, the director directly owned 21,508 shares in the company, valued at $9,141,545.24. This represents a 2.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 23,759 shares of company stock valued at $10,111,407 over the last quarter. Company insiders own 2.30% of the company's stock.

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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