American Century Companies Inc. Has $92.25 Million Position in SiTime Corporation $SITM

American Century Companies Inc. lifted its stake in SiTime Corporation (NASDAQ:SITM) by 0.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 306,147 shares of the company’s stock after buying an additional 1,694 shares during the period. American Century Companies Inc. owned about 1.17% of SiTime worth $92,246,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Xponance Inc. raised its holdings in SiTime by 6.6% in the 3rd quarter. Xponance Inc. now owns 1,680 shares of the company’s stock valued at $506,000 after acquiring an additional 104 shares in the last quarter. Choreo LLC bought a new stake in shares of SiTime during the third quarter valued at approximately $249,000. Thornburg Investment Management Inc. increased its position in shares of SiTime by 31.5% during the third quarter. Thornburg Investment Management Inc. now owns 21,037 shares of the company’s stock valued at $6,339,000 after purchasing an additional 5,037 shares during the period. Optiver Holding B.V. raised its stake in shares of SiTime by 56.1% in the third quarter. Optiver Holding B.V. now owns 89 shares of the company’s stock valued at $27,000 after purchasing an additional 32 shares in the last quarter. Finally, O Neil Global Advisors Inc. bought a new position in SiTime in the third quarter worth $815,000. 84.31% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at SiTime

In other news, CEO Rajesh Vashist sold 2,000 shares of the firm’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $369.20, for a total value of $738,400.00. Following the completion of the sale, the chief executive officer directly owned 431,609 shares in the company, valued at approximately $159,350,042.80. This trade represents a 0.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Akira Takata sold 3,500 shares of SiTime stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $431.73, for a total value of $1,511,055.00. Following the completion of the transaction, the director directly owned 13,734 shares of the company’s stock, valued at $5,929,379.82. This represents a 20.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 22,762 shares of company stock worth $9,638,517. 2.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SITM. Loop Capital started 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 set a $400.00 target price on shares of SiTime in a research report on Thursday, February 5th. Stifel Nicolaus set a $450.00 price target on shares of SiTime in a research report on Thursday, February 5th. Roth Mkm restated a “buy” rating and set a $450.00 price target on shares of SiTime in a research note on Thursday, February 5th. Finally, Needham & Company LLC lifted their price objective on SiTime from $400.00 to $450.00 and gave the company a “buy” rating in a report on Thursday, February 5th. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, SiTime has an average rating of “Moderate Buy” and a consensus target price of $409.38.

SiTime Stock Down 7.8%

Shares of SITM stock opened at $406.41 on Wednesday. The company has a market capitalization of $10.69 billion, a P/E ratio of -223.30 and a beta of 2.53. SiTime Corporation has a 12-month low of $105.40 and a 12-month high of $446.95. The firm has a 50-day moving average price of $378.85 and a 200 day moving average price of $322.03.

SiTime (NASDAQ:SITM) last posted its quarterly earnings data on Wednesday, February 4th. The company reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.33. SiTime had a negative net margin of 13.13% and a negative return on equity of 2.06%. The company had revenue of $113.29 million during the quarter, compared to analyst estimates of $101.91 million. During the same quarter last year, the business posted $0.48 earnings per share. The company’s revenue was up 66.3% on a year-over-year basis. As a group, research analysts expect that SiTime Corporation will post -2.44 earnings per share for the current 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.