SiTime Corporation $SITM Shares Purchased by William Blair Investment Management LLC

Key Points

• William Blair Investment Management LLC increased its holdings in SiTime Corporation by 4.1%, now owning approximately 112,789 shares valued at $24.03 million.
• SiTime's stock has recently seen a significant 5.5% decline, with a current market cap of $7.09 billion and a 12-month trading range between $105.40 and $323.66.
• In the latest quarterly earnings report, SiTime surpassed analyst expectations, reporting earnings of $0.47 per share and revenue growth of 58.3% year-over-year.

William Blair Investment Management LLC boosted its position in SiTime Corporation (NASDAQ:SITM - Free Report) by 4.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 112,789 shares of the company's stock after purchasing an additional 4,469 shares during the quarter. William Blair Investment Management LLC owned about 0.48% of SiTime worth $24,033,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in SITM. GAMMA Investing LLC raised its stake in SiTime by 80.9% in the 1st quarter. GAMMA Investing LLC now owns 1,708 shares of the company's stock valued at $261,000 after purchasing an additional 764 shares during the last quarter. Oppenheimer Asset Management Inc. raised its stake in SiTime by 49.0% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 2,637 shares of the company's stock valued at $403,000 after purchasing an additional 867 shares during the last quarter. Illinois Municipal Retirement Fund raised its stake in SiTime by 9.0% in the 1st quarter. Illinois Municipal Retirement Fund now owns 8,849 shares of the company's stock valued at $1,353,000 after purchasing an additional 734 shares during the last quarter. K.J. Harrison & Partners Inc acquired a new position in SiTime in the 1st quarter valued at $764,000. Finally, Envestnet Asset Management Inc. raised its stake in SiTime by 4.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 15,353 shares of the company's stock valued at $2,347,000 after purchasing an additional 657 shares during the last quarter. 84.31% of the stock is owned by institutional investors and hedge funds.

SiTime Trading Down 5.5%

NASDAQ SITM opened at $272.67 on Monday. The stock has a market cap of $7.09 billion, a PE ratio of -78.35 and a beta of 2.35. SiTime Corporation has a twelve month low of $105.40 and a twelve month high of $323.66. The stock has a fifty day simple moving average of $264.99 and a 200-day simple moving average of $214.89.

SiTime (NASDAQ:SITM - Get Free Report) last released 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 analysts' expectations of $64.66 million. SiTime had a negative return on equity of 7.54% and a negative net margin of 32.15%.The company's revenue was up 58.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.12 EPS. Research analysts predict that SiTime Corporation will post -2.44 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SITM. Stifel Nicolaus increased their price objective on SiTime from $230.00 to $320.00 and gave the company a "buy" rating in a research note on Thursday, September 18th. Raymond James Financial restated an "outperform" rating and issued a $270.00 target price (up from $250.00) on shares of SiTime in a report on Friday, August 29th. Barclays upped their target price on SiTime from $180.00 to $220.00 and gave the company an "underweight" rating in a report on Thursday, August 7th. UBS Group upped their target price on SiTime from $260.00 to $355.00 and gave the company a "buy" rating in a report on Monday, October 6th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of SiTime in a report on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating and two have given a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $274.17.

Insider Activity

In related news, insider Fariborz Assaderaghi sold 3,000 shares of the stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $231.75, for a total transaction of $695,250.00. Following the transaction, the insider owned 90,433 shares of the company's stock, valued at approximately $20,957,847.75. This represents a 3.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Samsheer Ahamad sold 6,000 shares of the stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $250.00, for a total value of $1,500,000.00. Following the transaction, the insider directly owned 61,888 shares in the company, valued at approximately $15,472,000. The trade was a 8.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 36,367 shares of company stock worth $9,330,713 in the last quarter. Insiders own 2.30% of the company's stock.

About SiTime

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.