Osaic Holdings Inc. Raises Holdings in SiTime Corporation $SITM

Osaic Holdings Inc. raised its holdings in SiTime Corporation (NASDAQ:SITM) by 3,957.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,252 shares of the company’s stock after purchasing an additional 11,950 shares during the quarter. Osaic Holdings Inc.’s holdings in SiTime were worth $2,609,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Invesco Ltd. increased its position in shares of SiTime by 4.8% during the 2nd quarter. Invesco Ltd. now owns 1,019,140 shares of the company’s stock worth $217,158,000 after purchasing an additional 46,721 shares during the last quarter. State Street Corp increased its position in shares of SiTime by 3.7% during the second quarter. State Street Corp now owns 911,280 shares of the company’s stock valued at $194,176,000 after acquiring an additional 32,178 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of SiTime by 22.0% during the second quarter. Ameriprise Financial Inc. now owns 736,281 shares of the company’s stock valued at $156,887,000 after acquiring an additional 132,948 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of SiTime by 11.2% in the 2nd quarter. Geode Capital Management LLC now owns 506,400 shares of the company’s stock valued at $107,918,000 after acquiring an additional 51,063 shares during the period. Finally, Alliancebernstein L.P. lifted its holdings in shares of SiTime by 1.1% in the 2nd quarter. Alliancebernstein L.P. now owns 448,036 shares of the company’s stock worth $95,468,000 after acquiring an additional 4,809 shares during the last quarter. Institutional investors and hedge funds own 84.31% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SITM. Barclays lifted their target price on shares of SiTime from $220.00 to $260.00 and gave the company an “underweight” rating in a report on Thursday, November 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of SiTime in a report on Wednesday, October 8th. Roth Capital reissued a “buy” rating and set a $350.00 target price on shares of SiTime in a research note on Thursday, November 6th. Stifel Nicolaus set a $360.00 target price on SiTime in a research report on Thursday, November 6th. Finally, Loop Capital began coverage on shares of SiTime in a research note on Friday, November 21st. They set a “buy” rating and a $350.00 price target on the stock. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $343.13.

Insider Activity

In other SiTime news, EVP Elizabeth A. Howe sold 5,099 shares of the stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $319.00, for a total value of $1,626,581.00. Following the sale, the executive vice president directly owned 59,070 shares of the company’s stock, valued at approximately $18,843,330. This represents a 7.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Fariborz Assaderaghi sold 1,500 shares of SiTime stock in a transaction on Monday, December 1st. The stock was sold at an average price of $291.58, for a total transaction of $437,370.00. Following the sale, the insider directly owned 84,815 shares of the company’s stock, valued at approximately $24,730,357.70. This trade represents a 1.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 26,599 shares of company stock worth $8,267,891. Insiders own 2.10% of the company’s stock.

SiTime Price Performance

SITM opened at $377.11 on Friday. The business has a fifty day moving average price of $315.12 and a 200 day moving average price of $265.23. SiTime Corporation has a 12 month low of $105.40 and a 12 month high of $387.52. The stock has a market capitalization of $9.84 billion, a price-to-earnings ratio of -127.40 and a beta of 2.55.

SiTime (NASDAQ:SITM) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.16. SiTime had a negative return on equity of 5.69% and a negative net margin of 25.18%.The business had revenue of $83.57 million during the quarter, compared to analysts’ expectations of $78.08 million. During the same quarter last year, the business posted $0.40 EPS. The business’s quarterly revenue was up 44.8% compared to the same quarter last year. On average, research analysts anticipate that SiTime Corporation will post -2.44 earnings per share for the current 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.