Fintel reports that Franklin Resources has filed a 13G/A form with the SEC disclosing ownership of 1.17MM shares of SiTime Corp (SITM). This represents 5.5% of the company.
In their previous filing dated February 4, 2022 they reported 1.53MM shares and 7.40% of the company, a decrease in shares of 23.17% and a decrease in total ownership of 1.90% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 4.89% Upside
As of January 30, 2023, the average one-year price target for SiTime is $120.87. The forecasts range from a low of $96.96 to a high of $141.75. The average price target represents an increase of 4.89% from its latest reported closing price of $115.23.
The projected annual revenue for SiTime is $244MM, a decrease of 18.19%. The projected annual EPS is $1.97, a decrease of 8.13%.
Fund Sentiment
There are 556 funds or institutions reporting positions in SiTime. This is a decrease of 33 owner(s) or 5.60%.
Average portfolio weight of all funds dedicated to US:SITM is 0.1787%, a decrease of 28.1392%. Total shares owned by institutions increased in the last three months by 2.44% to 19,207K shares.
What are large shareholders doing?
Trigran Investments holds 690,841 shares representing 3.22% ownership of the company. In it's prior filing, the firm reported owning 428,528 shares, representing an increase of 37.97%. The firm decreased its portfolio allocation in SITM by 69.91% over the last quarter.
Frontier Capital Management Co holds 611,837 shares representing 2.85% ownership of the company. In it's prior filing, the firm reported owning 343,774 shares, representing an increase of 43.81%. The firm decreased its portfolio allocation in SITM by 12.47% over the last quarter.
Wasatch Advisors holds 488,132 shares representing 2.28% ownership of the company. In it's prior filing, the firm reported owning 359,436 shares, representing an increase of 26.36%. The firm decreased its portfolio allocation in SITM by 27.92% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 468,975 shares representing 2.19% ownership of the company. In it's prior filing, the firm reported owning 447,780 shares, representing an increase of 4.52%. The firm decreased its portfolio allocation in SITM by 49.17% over the last quarter.
FDGRX - Fidelity Growth Company Fund holds 454,342 shares representing 2.12% ownership of the company. In it's prior filing, the firm reported owning 409,759 shares, representing an increase of 9.81%. The firm increased its portfolio allocation in SITM by 12.20% over the last quarter.
SiTime Background Information
(This description is provided by the company.)
SiTime Corporation is a market leader in silicon MEMS timing. Its programmable solutions offer a rich feature set that enables customers to differentiate their products with higher performance, smaller size, lower power, and better reliability. With over 2 billion devices shipped, SiTime is changing the timing industry.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
