Federated Hermes Inc. Grows Position in SiTime Corporation $SITM

Federated Hermes Inc. increased its position in SiTime Corporation (NASDAQ:SITM) by 38.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 100,000 shares of the company’s stock after purchasing an additional 28,000 shares during the period. Federated Hermes Inc. owned 0.38% of SiTime worth $21,308,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Game Plan Financial Advisors LLC bought a new stake in shares of SiTime during the 2nd quarter valued at $25,000. Advisors Asset Management Inc. lifted its position in SiTime by 33.6% during the 1st quarter. Advisors Asset Management Inc. now owns 350 shares of the company’s stock valued at $54,000 after acquiring an additional 88 shares during the period. Nisa Investment Advisors LLC boosted its stake in SiTime by 183.0% during the second quarter. Nisa Investment Advisors LLC now owns 600 shares of the company’s stock worth $128,000 after acquiring an additional 388 shares in the last quarter. CWM LLC grew its holdings in SiTime by 36.2% in the second quarter. CWM LLC now owns 617 shares of the company’s stock worth $131,000 after purchasing an additional 164 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in SiTime in the second quarter worth about $196,000. Institutional investors own 84.31% of the company’s stock.

SiTime Price Performance

Shares of NASDAQ:SITM opened at $366.49 on Wednesday. SiTime Corporation has a 1 year low of $105.40 and a 1 year high of $386.00. The company has a market cap of $9.57 billion, a P/E ratio of -123.81 and a beta of 2.55. The stock’s fifty day moving average price is $295.75 and its 200-day moving average price is $250.59.

SiTime (NASDAQ:SITM) last issued its earnings results on Wednesday, November 5th. The company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.16. The business had revenue of $83.57 million during the quarter, compared to analyst estimates of $78.08 million. SiTime had a negative return on equity of 5.69% and a negative net margin of 25.18%.SiTime’s revenue was up 44.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.40 EPS. On average, sell-side analysts anticipate that SiTime Corporation will post -2.44 earnings per share for the current year.

Insider Activity at SiTime

In other SiTime news, insider Samsheer Ahamad sold 4,000 shares of the business’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $291.10, for a total transaction of $1,164,400.00. Following the completion of the sale, the insider directly owned 51,711 shares in the company, valued at approximately $15,053,072.10. The trade was a 7.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Elizabeth A. Howe sold 5,099 shares of the stock in a transaction 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 transaction, the executive vice president directly owned 59,070 shares in the company, valued at $18,843,330. The trade was a 7.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 32,311 shares of company stock valued at $9,825,229 over the last ninety days. Company insiders own 2.30% of the company’s stock.

Analysts Set New Price Targets

SITM has been the subject of several recent research reports. 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. Loop Capital assumed coverage on SiTime in a report on Friday, November 21st. They issued a “buy” rating and a $350.00 target price on the stock. Roth Capital reissued a “buy” rating and issued a $350.00 target price on shares of SiTime in a research note on Thursday, November 6th. UBS Group lifted their price target on SiTime from $355.00 to $375.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Finally, Stifel Nicolaus set a $360.00 price target on shares of SiTime in a research note on Thursday, November 6th. Six analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, SiTime presently has a consensus rating of “Moderate Buy” and a consensus price target of $332.14.

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.