American Century Companies Inc. Invests $64.87 Million in SiTime Corporation $SITM

American Century Companies Inc. purchased a new position in SiTime Corporation (NASDAQ:SITM) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 304,453 shares of the company’s stock, valued at approximately $64,873,000. American Century Companies Inc. owned 1.17% of SiTime at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SITM. White Pine Capital LLC grew its holdings in SiTime by 1.6% in the second quarter. White Pine Capital LLC now owns 5,376 shares of the company’s stock valued at $1,146,000 after purchasing an additional 83 shares during the last quarter. Advisors Asset Management Inc. boosted its position in shares of SiTime by 33.6% in the 1st quarter. Advisors Asset Management Inc. now owns 350 shares of the company’s stock worth $54,000 after buying an additional 88 shares in the last quarter. Game Plan Financial Advisors LLC acquired a new stake in SiTime in the 2nd quarter valued at about $25,000. CWM LLC grew its stake in SiTime by 36.2% in the 2nd quarter. CWM LLC now owns 617 shares of the company’s stock valued at $131,000 after acquiring an additional 164 shares during the last quarter. Finally, Yousif Capital Management LLC increased its holdings in SiTime by 3.5% during the 2nd quarter. Yousif Capital Management LLC now owns 7,238 shares of the company’s stock valued at $1,542,000 after acquiring an additional 246 shares in the last quarter. 84.31% of the stock is owned by institutional investors and hedge funds.

SiTime Stock Up 0.9%

Shares of NASDAQ SITM opened at $289.29 on Friday. The stock has a market capitalization of $7.55 billion, a PE ratio of -97.73 and a beta of 2.36. The firm has a fifty day moving average of $290.49 and a 200-day moving average of $242.74. SiTime Corporation has a 52-week low of $105.40 and a 52-week high of $386.00.

SiTime (NASDAQ:SITM) last issued its earnings results on Wednesday, November 5th. The company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.16. The firm had revenue of $83.57 million for the quarter, compared to analysts’ expectations of $78.08 million. SiTime had a negative return on equity of 5.69% and a negative net margin of 25.18%.The firm’s revenue for the quarter was up 44.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.40 earnings per share. Equities research analysts expect that SiTime Corporation will post -2.44 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SITM. Loop Capital assumed coverage on shares of SiTime in a report on Friday, November 21st. They issued a “buy” rating and a $350.00 price target on the stock. Barclays upped their target price on SiTime from $220.00 to $260.00 and gave the company an “underweight” rating in a research note on Thursday, November 6th. UBS Group increased their target price on SiTime from $355.00 to $375.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Needham & Company LLC boosted their price target on SiTime from $250.00 to $360.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of SiTime in a research report on Wednesday, October 8th. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $332.14.

Insiders Place Their Bets

In other news, insider Piyush B. Sevalia sold 2,056 shares of the business’s stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $251.50, for a total transaction of $517,084.00. Following the completion of the sale, the insider owned 78,757 shares in the company, valued at approximately $19,807,385.50. The trade was a 2.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Rajesh Vashist sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $329.00, for a total transaction of $3,290,000.00. Following the completion of the transaction, the chief executive officer owned 439,208 shares in the company, valued at $144,499,432. The trade was a 2.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 42,867 shares of company stock worth $11,972,893. 2.10% of the stock is owned by insiders.

SiTime Company Profile

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.