Public Sector Pension Investment Board Has $9.27 Million Position in SiTime Corporation $SITM

Key Points

• The Public Sector Pension Investment Board increased its holdings in SiTime Corporation by 28.7%, bringing its total ownership to approximately 0.26% of the company, valued at $9.27 million.
• Barclays and Stifel Nicolaus analysts have set target prices for SiTime at $220 and $230, respectively, with the stock currently holding a consensus price target of $236 and a rating of "Moderate Buy."
• SiTime reported a quarterly earnings per share of $0.47, exceeding estimates, with a 58.3% increase in revenue year-over-year, totaling $69.49 million.

Public Sector Pension Investment Board boosted its stake in SiTime Corporation (NASDAQ:SITM - Free Report) by 28.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,612 shares of the company's stock after buying an additional 13,508 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.26% of SiTime worth $9,266,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Fourth Dimension Wealth LLC bought a new position in SiTime during the 4th quarter valued at about $25,000. Opal Wealth Advisors LLC bought a new position in SiTime during the 1st quarter valued at about $32,000. Lazard Asset Management LLC bought a new position in SiTime during the 4th quarter valued at about $81,000. CWM LLC lifted its holdings in SiTime by 69.0% during the 1st quarter. CWM LLC now owns 453 shares of the company's stock valued at $69,000 after purchasing an additional 185 shares during the last quarter. Finally, Aquatic Capital Management LLC bought a new position in SiTime during the 4th quarter valued at about $192,000. 84.31% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Stifel Nicolaus lifted their price target on shares of SiTime from $210.00 to $230.00 and gave the company a "buy" rating in a report on Friday, July 18th. Barclays lifted their price target on shares of SiTime from $180.00 to $220.00 and gave the company an "underweight" rating in a report on Thursday, August 7th. Finally, UBS Group started coverage on shares of SiTime in a report on Thursday. They set a "buy" rating and a $260.00 price target for the company. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $240.00.

SiTime Trading Up 3.4%

Shares of SITM traded up $7.43 on Monday, reaching $228.87. 98,963 shares of the company's stock were exchanged, compared to its average volume of 325,943. The stock has a market capitalization of $5.95 billion, a P/E ratio of -65.78 and a beta of 2.20. The business has a 50 day moving average price of $209.73 and a two-hundred day moving average price of $184.02. SiTime Corporation has a 12 month low of $105.40 and a 12 month high of $268.18.

SiTime (NASDAQ:SITM - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.47 earnings per share for the quarter, topping analysts' consensus estimates of $0.29 by $0.18. The business had revenue of $69.49 million during the quarter, compared to the consensus estimate of $64.66 million. SiTime had a negative net margin of 32.15% and a negative return on equity of 7.54%. SiTime's revenue for the quarter was up 58.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.12 earnings per share. Equities research analysts predict that SiTime Corporation will post -2.44 EPS for the current year.

Insider Buying and Selling at SiTime

In related news, EVP Elizabeth A. Howe sold 1,500 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $208.00, for a total transaction of $312,000.00. Following the completion of the sale, the executive vice president directly owned 71,474 shares of the company's stock, valued at $14,866,592. The trade was a 2.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Fariborz Assaderaghi sold 1,000 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $201.36, for a total transaction of $201,360.00. Following the sale, the insider directly owned 101,319 shares of the company's stock, valued at approximately $20,401,593.84. This trade represents a 0.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 36,645 shares of company stock valued at $7,629,780 over the last 90 days. Company insiders own 2.30% of the company's stock.

SiTime Profile

SiTime Corporation designs, develops, and sells silicon timing systems solutions in Taiwan, Hong Kong, the United States, Singapore, and internationally. The company provides resonators and clock integrated circuits, and various types of oscillators. It serves various markets, including communications, datacenter, enterprise, automotive, industrial, internet of things, mobile, consumer, and aerospace and defense.