Federated Hermes Inc. Acquires 25,000 Shares of SiTime Corporation $SITM

Federated Hermes Inc. boosted its holdings in shares of SiTime Corporation (NASDAQ:SITM) by 25.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 125,000 shares of the company’s stock after purchasing an additional 25,000 shares during the quarter. Federated Hermes Inc. owned about 0.48% of SiTime worth $37,664,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in SITM. Game Plan Financial Advisors LLC bought a new stake in shares of SiTime during the second quarter valued at approximately $25,000. Salomon & Ludwin LLC bought a new stake in SiTime in the 3rd quarter valued at $47,000. Global Retirement Partners LLC lifted its stake in SiTime by 3,220.0% in the 3rd quarter. Global Retirement Partners LLC now owns 166 shares of the company’s stock worth $50,000 after purchasing an additional 161 shares in the last quarter. State of Wyoming bought a new position in shares of SiTime during the 2nd quarter valued at about $58,000. Finally, Advisors Asset Management Inc. boosted its holdings in shares of 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 purchasing an additional 88 shares during the last quarter. 84.31% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at SiTime

In related news, insider Fariborz Assaderaghi sold 1,500 shares of the firm’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $291.58, for a total value of $437,370.00. Following the transaction, the insider owned 84,815 shares of the company’s stock, valued at $24,730,357.70. This trade represents a 1.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Samsheer Ahamad sold 4,000 shares of the company’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $291.10, for a total transaction of $1,164,400.00. Following the completion of the transaction, the insider owned 51,711 shares in the company, valued at $15,053,072.10. This represents a 7.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 21,500 shares of company stock worth $6,791,710. Insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SITM. The Goldman Sachs Group started coverage on SiTime in a research report on Monday, December 15th. They issued a “buy” rating and a $420.00 target price on the stock. Barclays set a $360.00 price objective on SiTime and gave the stock an “equal weight” rating in a research note on Thursday, January 15th. Loop Capital initiated coverage on SiTime in a research report on Friday, November 21st. They set a “buy” rating and a $350.00 target price for the company. Stifel Nicolaus boosted their price target on shares of SiTime from $360.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, January 16th. Finally, Roth Mkm reiterated a “buy” rating and set a $350.00 price objective on shares of SiTime in a research report on Thursday, November 6th. Seven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, SiTime has a consensus rating of “Moderate Buy” and a consensus target price of $367.50.

SiTime Stock Performance

Shares of SiTime stock opened at $365.58 on Friday. The stock has a market cap of $9.54 billion, a price-to-earnings ratio of -123.51 and a beta of 2.49. The stock has a 50 day moving average price of $348.64 and a 200-day moving average price of $288.51. SiTime Corporation has a one year low of $105.40 and a one year high of $393.80.

SiTime (NASDAQ:SITM) last posted its quarterly earnings data 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. SiTime had a negative net margin of 25.18% and a negative return on equity of 5.69%. The business had revenue of $83.57 million for the quarter, compared to analysts’ expectations of $78.08 million. During the same quarter in the previous year, the business posted $0.40 earnings per share. The business’s revenue was up 44.8% compared to the same quarter last year. Sell-side analysts predict that SiTime Corporation will post -2.44 earnings per share for the current fiscal year.

SiTime 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.