SiTime Corporation $SITM Shares Purchased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company boosted its holdings in shares of SiTime Corporation (NASDAQ:SITM - Free Report) by 101.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 20,732 shares of the company's stock after purchasing an additional 10,426 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.08% of SiTime worth $7,160,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Parallel Advisors LLC raised its holdings in shares of SiTime by 26.2% in the first quarter. Parallel Advisors LLC now owns 77 shares of the company's stock valued at $27,000 after buying an additional 16 shares during the last quarter. Los Angeles Capital Management LLC grew its holdings in shares of SiTime by 0.3% during the fourth quarter. Los Angeles Capital Management LLC now owns 9,023 shares of the company's stock worth $3,187,000 after buying an additional 25 shares during the last quarter. CWM LLC increased its position in SiTime by 4.2% in the 4th quarter. CWM LLC now owns 951 shares of the company's stock valued at $336,000 after acquiring an additional 38 shares during the period. Corient Private Wealth LLC increased its position in SiTime by 5.9% in the 4th quarter. Corient Private Wealth LLC now owns 703 shares of the company's stock valued at $249,000 after acquiring an additional 39 shares during the period. Finally, Lazard Asset Management LLC raised its stake in SiTime by 7.7% during the 2nd quarter. Lazard Asset Management LLC now owns 654 shares of the company's stock valued at $139,000 after acquiring an additional 47 shares during the last quarter. 84.31% of the stock is currently owned by institutional investors and hedge funds.

SiTime Trading Down 6.9%

Shares of SITM opened at $543.12 on Thursday. SiTime Corporation has a twelve month low of $187.56 and a twelve month high of $901.81. The stock's 50 day moving average is $637.07 and its two-hundred day moving average is $525.29. The firm has a market capitalization of $14.34 billion, a PE ratio of -537.74 and a beta of 2.94.

SiTime (NASDAQ:SITM - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $2.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.95 by $0.39. The business had revenue of $157.43 million during the quarter, compared to the consensus estimate of $146.46 million. SiTime had a positive return on equity of 0.53% and a negative net margin of 6.38%.The company's revenue for the quarter was up 126.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.47 EPS. SiTime has set its Q3 2026 guidance at 3.500-3.650 EPS. On average, sell-side analysts predict that SiTime Corporation will post 3.23 EPS for the current year.

Insider Activity

In other SiTime news, insider Fariborz Assaderaghi sold 1,709 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $731.49, for a total value of $1,250,116.41. Following the completion of the transaction, the insider owned 81,436 shares in the company, valued at approximately $59,569,619.64. This represents a 2.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Christine Heckart sold 1,290 shares of the firm's stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $700.00, for a total value of $903,000.00. Following the completion of the sale, the director directly owned 790 shares of the company's stock, valued at approximately $553,000. This trade represents a 62.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 69,709 shares of company stock valued at $50,230,546 over the last three months. 1.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

SITM has been the subject of a number of recent research reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of SiTime in a research report on Friday, July 17th. Barclays raised SiTime from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $400.00 to $850.00 in a report on Thursday, May 7th. Roth Capital reaffirmed a "buy" rating and set a $900.00 price target on shares of SiTime in a report on Thursday, May 7th. Zacks Research downgraded SiTime from a "strong-buy" rating to a "hold" rating in a report on Monday, July 6th. Finally, The Goldman Sachs Group reiterated a "buy" rating and issued a $800.00 price objective on shares of SiTime in a research report on Thursday, May 7th. Eight analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $661.88.

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.

Want to see what other hedge funds are holding SITM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SiTime Corporation (NASDAQ:SITM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source