VIRGINIA RETIREMENT SYSTEMS ET Al Makes New Investment in SiTime Corporation $SITM

Key Points

• Virginia Retirement Systems acquired 5,180 SiTime shares valued at approximately $3.86 million during the second quarter. Institutional investors collectively own 84.31% of the company.
• Analysts are broadly bullish on SiTime, with an overall “Buy” rating and an average price target of $761.25; Goldman Sachs and Benchmark set targets of $900 and $850, respectively.
• SiTime reported quarterly revenue of $157.43 million, up 126.5% year over year, and earnings of $2.34 per share, exceeding analyst expectations. However, insiders sold 24,550 shares worth about $18.31 million over the past three months.

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in SiTime Corporation (NASDAQ:SITM - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 5,180 shares of the company's stock, valued at approximately $3,862,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Parallel Advisors LLC lifted its position in shares of SiTime by 26.2% during the 1st quarter. Parallel Advisors LLC now owns 77 shares of the company's stock valued at $27,000 after buying an additional 16 shares in the last quarter. Larson Financial Group LLC increased its holdings in SiTime by 3,200.0% in the 3rd quarter. Larson Financial Group LLC now owns 99 shares of the company's stock worth $30,000 after acquiring an additional 96 shares in the last quarter. USA Financial Formulas purchased a new stake in SiTime in the 1st quarter worth $33,000. Caitong International Asset Management Co. Ltd acquired a new position in SiTime during the fourth quarter worth $33,000. Finally, Optiver Holding B.V. raised its position in SiTime by 433.3% during the first quarter. Optiver Holding B.V. now owns 128 shares of the company's stock worth $44,000 after acquiring an additional 104 shares during the period. 84.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on SITM shares. Wall Street Zen raised shares of SiTime from a "hold" rating to a "buy" rating in a report on Sunday, July 12th. Zacks Research raised shares of SiTime from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 13th. Weiss Ratings upgraded shares of SiTime from a "sell (d-)" rating to a "hold (c-)" rating in a research report on Tuesday, August 25th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $900.00 price target on shares of SiTime in a research note on Thursday, August 6th. Finally, Benchmark assumed coverage on SiTime in a report on Wednesday, August 19th. They issued a "buy" rating and a $850.00 price objective on the stock. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $761.25.

SiTime Price Performance

Shares of NASDAQ SITM opened at $589.87 on Thursday. The firm has a 50-day simple moving average of $601.14 and a 200-day simple moving average of $568.10. The stock has a market capitalization of $17.74 billion, a price-to-earnings ratio of 1,203.82 and a beta of 2.86. 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 52 week low of $243.68 and a 52 week high of $901.81.

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

Insiders Place Their Bets

In other news, Director Raman Chitkara sold 2,000 shares of the company's stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $727.38, for a total value of $1,454,760.00. Following the completion of the sale, the director directly owned 19,898 shares in the company, valued at $14,473,407.24. This represents a 9.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Katherine Schuelke sold 500 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $698.05, for a total value of $349,025.00. Following the completion of the sale, the director directly owned 12,010 shares of the company's stock, valued at approximately $8,383,580.50. This represents a 4.00% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 24,550 shares of company stock worth $18,309,538. 1.40% of the stock is currently owned by insiders.

SiTime Profile

SiTime Corporation NASDAQ: SITM is a semiconductor company that develops precision timing solutions based on microelectromechanical systems (MEMS) technology. Its products are designed to generate, distribute and synchronize the timing signals used by electronic systems and are intended to provide alternatives to traditional quartz-based timing components.

The company's portfolio includes MEMS oscillators, clock generators, clock buffers, resonators and related timing devices. These products are used in applications such as data centers, wired and wireless communications infrastructure, automotive systems, industrial equipment, consumer electronics, aerospace and defense systems, and other high-performance electronic devices.

SiTime was founded in 2004 and is headquartered in Santa Clara, California.

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