Van ECK Associates Corp Has $11.18 Million Stake in SiTime Corporation $SITM

Key Points

• Van ECK Associates increased its SiTime stake by 32.6% in the second quarter to 14,990 shares valued at approximately $11.18 million. Institutional investors and hedge funds collectively own 84.31% of the company.
• Analysts maintain a positive outlook, with SiTime receiving a consensus “Buy” rating and an average price target of $761.25; UBS and Needham recently raised their targets to $840 and $900, respectively.
• SiTime exceeded quarterly expectations with adjusted EPS of $2.34 versus $1.95 forecast and revenue of $157.43 million, up 126.5% year over year. However, insiders sold 65,550 shares worth about $47.1 million over the past three months.

Van ECK Associates Corp grew its stake in shares of SiTime Corporation (NASDAQ:SITM - Free Report) by 32.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,990 shares of the company's stock after buying an additional 3,683 shares during the period. Van ECK Associates Corp's holdings in SiTime were worth $11,176,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of SITM. BlackRock Inc. acquired a new stake in shares of SiTime in the 2nd quarter valued at approximately $1,781,937,000. Invesco Ltd. grew its holdings in SiTime by 1.8% during the third quarter. Invesco Ltd. now owns 1,037,305 shares of the company's stock valued at $312,550,000 after purchasing an additional 18,165 shares during the period. State Street Corp increased its stake in SiTime by 3.7% in the second quarter. State Street Corp now owns 911,280 shares of the company's stock valued at $194,176,000 after purchasing an additional 32,178 shares in the last quarter. Ameriprise Financial Inc. increased its stake in SiTime by 22.0% in the second quarter. Ameriprise Financial Inc. now owns 736,281 shares of the company's stock valued at $156,887,000 after purchasing an additional 132,948 shares in the last quarter. Finally, Whale Rock Capital Management LLC raised its holdings in SiTime by 45.4% in the fourth quarter. Whale Rock Capital Management LLC now owns 698,539 shares of the company's stock worth $246,717,000 after purchasing an additional 218,038 shares during the period. 84.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. UBS Group lifted their price target on shares of SiTime from $775.00 to $840.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Weiss Ratings raised SiTime from a "sell (d-)" rating to a "hold (c-)" rating in a research note on Tuesday, August 25th. Needham & Company LLC lifted their target price on SiTime from $850.00 to $900.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Roth Capital reissued a "buy" rating and issued a $900.00 target price on shares of SiTime in a research note on Thursday, May 7th. Finally, Wall Street Zen upgraded SiTime from a "hold" rating to a "buy" rating in a report on Sunday, July 12th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, SiTime presently has a consensus rating of "Buy" and a consensus price target of $761.25.

Insider Transactions at SiTime

In other news, Director Torsten Kreindl sold 1,050 shares of the business's stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $721.67, for a total value of $757,753.50. Following the sale, the director directly owned 12,481 shares in the company, valued at $9,007,163.27. The trade was a 7.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Edward H. Frank sold 1,000 shares of the company's stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $745.00, for a total value of $745,000.00. Following the transaction, the director directly owned 10,999 shares of the company's stock, valued at $8,194,255. This represents a 8.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 65,550 shares of company stock worth $47,057,638. 1.40% of the stock is currently owned by company insiders.

SiTime Stock Up 1.4%

Shares of SITM stock opened at $565.42 on Tuesday. The firm has a fifty day moving average of $617.09 and a 200-day moving average of $559.73. The company has a quick ratio of 18.50, a current ratio of 19.44 and a debt-to-equity ratio of 1.29. SiTime Corporation has a 12-month low of $222.12 and a 12-month high of $901.81. The company has a market capitalization of $17.00 billion, a price-to-earnings ratio of 1,153.92 and a beta of 2.94.

SiTime (NASDAQ:SITM - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $2.34 EPS for the quarter, beating the consensus estimate of $1.95 by $0.39. The business had revenue of $157.43 million for the quarter, compared to analysts' expectations of $146.46 million. SiTime had a net margin of 3.01% and a return on equity of 4.99%. The firm's revenue was up 126.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.47 EPS. SiTime has set its Q3 2026 guidance at 3.500-3.650 EPS. As a group, equities research analysts predict that SiTime Corporation will post 6.33 earnings per share for the current fiscal year.

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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