US Bancorp DE Purchases 949 Shares of SiTime Corporation (NASDAQ:SITM)

US Bancorp DE raised its position in shares of SiTime Corporation (NASDAQ:SITM) by 134.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,654 shares of the company’s stock after acquiring an additional 949 shares during the period. US Bancorp DE’s holdings in SiTime were worth $253,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Summit Investment Advisors Inc. boosted its holdings in shares of SiTime by 4.5% during the fourth quarter. Summit Investment Advisors Inc. now owns 1,945 shares of the company’s stock worth $417,000 after acquiring an additional 83 shares during the period. Xponance Inc. boosted its holdings in shares of SiTime by 7.2% during the first quarter. Xponance Inc. now owns 1,419 shares of the company’s stock worth $217,000 after acquiring an additional 95 shares during the period. Vident Advisory LLC boosted its holdings in shares of SiTime by 5.0% during the fourth quarter. Vident Advisory LLC now owns 2,199 shares of the company’s stock worth $472,000 after acquiring an additional 104 shares during the period. Ellevest Inc. boosted its holdings in shares of SiTime by 2.2% during the fourth quarter. Ellevest Inc. now owns 5,254 shares of the company’s stock worth $1,127,000 after acquiring an additional 113 shares during the period. Finally, Fourth Dimension Wealth LLC bought a new stake in shares of SiTime during the fourth quarter worth approximately $25,000. Institutional investors own 84.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SITM. UBS Group began coverage on SiTime in a research note on Thursday. They issued a “buy” rating and a $260.00 price target for the company. Stifel Nicolaus boosted their price target on SiTime from $210.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, July 18th. Finally, Barclays boosted their price target on SiTime from $180.00 to $220.00 and gave the company an “underweight” rating in a research note on Thursday, August 7th. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $240.00.

SiTime Price Performance

NASDAQ SITM opened at $226.74 on Friday. The business has a fifty day moving average price of $209.42 and a two-hundred day moving average price of $184.05. SiTime Corporation has a fifty-two week low of $105.40 and a fifty-two week high of $268.18. The stock has a market capitalization of $5.90 billion, a PE ratio of -65.16 and a beta of 2.20.

SiTime (NASDAQ:SITM) last released its earnings results on Wednesday, August 6th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.18. SiTime had a negative return on equity of 7.54% and a negative net margin of 32.15%. The firm had revenue of $69.49 million during the quarter, compared to analysts’ expectations of $64.66 million. During the same period in the prior year, the company earned $0.12 earnings per share. The company’s quarterly revenue was up 58.3% on a year-over-year basis. As a group, sell-side analysts expect that SiTime Corporation will post -2.44 earnings per share for the current year.

Insider Activity

In other SiTime news, insider Piyush B. Sevalia sold 1,039 shares of the company’s stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $220.00, for a total transaction of $228,580.00. Following the completion of the sale, the insider directly owned 85,516 shares in the company, valued at $18,813,520. This represents a 1.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Elizabeth A. Howe sold 1,500 shares of the company’s stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $208.00, for a total value of $312,000.00. Following the sale, the executive vice president owned 71,474 shares of the company’s stock, valued at $14,866,592. The trade was a 2.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,783 shares of company stock valued at $9,708,517. Corporate insiders own 2.10% 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.