SiTime Co. (NASDAQ:SITM) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its position in shares of SiTime Co. (NASDAQ:SITM) by 15.4% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 448,930 shares of the company’s stock after acquiring an additional 59,931 shares during the quarter. Principal Financial Group Inc.’s holdings in SiTime were worth $76,996,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in SITM. Driehaus Capital Management LLC acquired a new stake in SiTime in the second quarter worth $16,831,000. Vanguard Group Inc. increased its position in SiTime by 4.1% in the first quarter. Vanguard Group Inc. now owns 2,203,286 shares of the company’s stock worth $205,412,000 after buying an additional 85,800 shares during the period. William Blair Investment Management LLC increased its position in SiTime by 62.0% in the second quarter. William Blair Investment Management LLC now owns 208,098 shares of the company’s stock worth $25,883,000 after buying an additional 79,648 shares during the period. F M Investments LLC acquired a new stake in SiTime in the second quarter worth $8,909,000. Finally, Roubaix Capital LLC acquired a new stake in SiTime in the first quarter worth $5,288,000. 84.31% of the stock is owned by institutional investors and hedge funds.

SiTime Stock Performance

NASDAQ:SITM opened at $225.45 on Friday. SiTime Co. has a 1 year low of $72.39 and a 1 year high of $228.12. The stock has a market cap of $5.21 billion, a price-to-earnings ratio of -54.46 and a beta of 1.83. The business has a fifty day moving average of $169.16 and a 200-day moving average of $141.31.

SiTime (NASDAQ:SITM) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.14. SiTime had a negative return on equity of 9.88% and a negative net margin of 53.55%. The company had revenue of $57.70 million during the quarter, compared to analysts’ expectations of $55.10 million. During the same quarter in the prior year, the business posted ($0.81) earnings per share. The company’s revenue for the quarter was up 62.4% compared to the same quarter last year. On average, equities research analysts predict that SiTime Co. will post -3.03 EPS for the current year.

Insider Activity at SiTime

In related news, insider Fariborz Assaderaghi sold 1,083 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $139.05, for a total transaction of $150,591.15. Following the completion of the transaction, the insider now owns 112,584 shares of the company’s stock, valued at $15,654,805.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Rajesh Vashist sold 20,000 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $170.07, for a total transaction of $3,401,400.00. Following the completion of the transaction, the chief executive officer now owns 424,417 shares of the company’s stock, valued at $72,180,599.19. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Fariborz Assaderaghi sold 1,083 shares of the stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $139.05, for a total value of $150,591.15. Following the completion of the transaction, the insider now owns 112,584 shares of the company’s stock, valued at $15,654,805.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 32,464 shares of company stock valued at $5,372,893 over the last 90 days. 2.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Barclays increased their target price on SiTime from $90.00 to $130.00 and gave the stock an “underweight” rating in a research report on Friday. Stifel Nicolaus increased their price target on SiTime from $175.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Needham & Company LLC increased their price target on SiTime from $140.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Roth Mkm increased their price target on SiTime from $205.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday.

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.