Principal Financial Group Inc. Grows Stake in SiTime Corporation $SITM

Key Points

• Principal Financial Group raised its SiTime stake by 3.9% in Q4 to 363,953 shares, representing about 1.39% of the company and worth roughly $128.5 million.
• SiTime topped Q4 expectations with $1.53 EPS (vs. $1.20 est.) and $113.3M revenue (up 66.3% YoY); the stock trades near its 52‑week high with a market cap of $16.46B and a consensus rating of Moderate Buy (avg. target $415.63).
• Institutional investors own 84.31% of SiTime, while insiders have sold about 26,178 shares (~$11.28M) over the past three months and now hold approximately 1.40% of the stock.

Principal Financial Group Inc. increased its holdings in shares of SiTime Corporation (NASDAQ:SITM - Free Report) by 3.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 363,953 shares of the company's stock after purchasing an additional 13,577 shares during the quarter. Principal Financial Group Inc. owned approximately 1.39% of SiTime worth $128,545,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its holdings in SiTime by 36.8% during the third quarter. Wellington Management Group LLP now owns 537,741 shares of the company's stock worth $162,027,000 after purchasing an additional 144,671 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of SiTime by 22.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 736,281 shares of the company's stock valued at $156,887,000 after buying an additional 132,948 shares in the last quarter. FengHe Fund Management Pte. Ltd. purchased a new position in shares of SiTime in the 4th quarter valued at $45,346,000. Vanguard Group Inc. raised its stake in SiTime by 4.7% during the 3rd quarter. Vanguard Group Inc. now owns 2,764,066 shares of the company's stock worth $832,841,000 after acquiring an additional 123,287 shares in the last quarter. Finally, TimesSquare Capital Management LLC lifted its position in SiTime by 455.2% in the third quarter. TimesSquare Capital Management LLC now owns 131,700 shares of the company's stock valued at $39,683,000 after acquiring an additional 107,980 shares during the last quarter. 84.31% of the stock is owned by institutional investors and hedge funds.

SiTime Stock Up 4.5%

NASDAQ SITM opened at $623.33 on Thursday. The firm has a market cap of $16.46 billion, a P/E ratio of -342.49 and a beta of 2.91. SiTime Corporation has a 52-week low of $158.63 and a 52-week high of $627.00. The business's 50-day moving average price is $414.68 and its 200 day moving average price is $366.95.

SiTime (NASDAQ:SITM - Get Free Report) last posted its quarterly earnings data on Wednesday, February 4th. The company reported $1.53 earnings per share for the quarter, topping analysts' consensus estimates of $1.20 by $0.33. SiTime had a negative return on equity of 2.06% and a negative net margin of 13.13%.The company had revenue of $113.29 million during the quarter, compared to analysts' expectations of $101.91 million. During the same period last year, the firm earned $0.48 EPS. The firm's revenue for the quarter was up 66.3% on a year-over-year basis. As a group, analysts anticipate that SiTime Corporation will post 1.31 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SITM. UBS Group raised their price objective on SiTime from $430.00 to $485.00 and gave the stock a "buy" rating in a report on Thursday, February 5th. Barclays set a $400.00 target price on SiTime in a research report on Thursday, February 5th. Wall Street Zen lowered SiTime from a "buy" rating to a "hold" rating in a research report on Saturday, April 11th. Roth Mkm reissued a "buy" rating and issued a $450.00 price objective on shares of SiTime in a report on Thursday, February 5th. Finally, Needham & Company LLC raised their target price on shares of SiTime from $400.00 to $450.00 and gave the stock a "buy" rating in a research report on Thursday, February 5th. Seven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, SiTime currently has a consensus rating of "Moderate Buy" and an average price target of $415.63.

Insider Buying and Selling at SiTime

In related news, insider Piyush B. Sevalia sold 2,419 shares of SiTime stock in a transaction on Friday, April 17th. The shares were sold at an average price of $484.05, for a total value of $1,170,916.95. Following the transaction, the insider directly owned 84,250 shares in the company, valued at $40,781,212.50. This trade represents a 2.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Akira Takata sold 3,500 shares of the company's stock in a transaction on Friday, February 6th. The stock was sold at an average price of $431.73, for a total transaction of $1,511,055.00. Following the transaction, the director owned 13,734 shares of the company's stock, valued at approximately $5,929,379.82. The trade was a 20.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 26,178 shares of company stock valued at $11,282,324. Corporate insiders own 1.40% 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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