Driehaus Capital Management 13F: Cuts SITM Stake by $138M

Driehaus Capital Scales Back Momentum Bets

Chicago-based Driehaus Capital Management, an investment manager famously known for its aggressive growth style and momentum-chasing strategies, has trimmed its sails on one of its high-performing technology bets. According to its latest Form 13F filing with the Securities and Exchange Commission, the fund cut its position in silicon timing giant SiTime Corporation (NASDAQ: SITM) by 44.8% during the period ended May 15, 2026.

The firm parted with 184,908 shares of the semiconductor specialist. This transaction left Driehaus with 227,965 shares. The remaining stake carried an estimated market value of $169.96 million at the end of the reporting period. Because 13F filings are backward-looking, this data reflects the fund's holdings as of mid-May and may not represent its current portfolio allocation today.

Growth Focus Drives the Portfolio Move

Driehaus Capital typically targets companies with accelerating earnings growth and strong market momentum, often scaling positions up or down quickly as valuations shift. Before this reduction, the fund held 412,873 shares of SiTime. This substantial trim represents a locking in of profits or a reallocation of capital toward other emerging growth ideas, following several other recent adjustments where the fund pared back stakes in healthcare names like Scholar Rock and Kymera Therapeutics.

SiTime Stock Positioned Near Multi-Month Highs

Shares of the Santa Clara, California-based company traded at $745.56 on Saturday, showcasing a powerful recovery from its 52-week low of $243.68. The stock is currently trading well above its 50-day moving average of $626.18 and its 200-day moving average of $539.16. This upward trajectory has pushed the equity closer to its 52-week high of $901.81. This price level gives the semiconductor developer a total market capitalization of $15.08 billion.

Recent Earnings

SiTime last reported annual revenue of $467.85 million, marking a modest revenue growth rate of 1.265% over the prior period. The chip designer is profitable, though it operates on thin margins with a net margin of 0.03012 and a return on equity of 0.013259999. The firm posted an earnings per share of $0.56. Due to its premium valuation and high growth expectations, the stock has an elevated price-to-earnings ratio of 895.6964, though its forward P/E ratio sits at a more modest 33.616066. Financial metrics will be updated when the company reports its next quarterly results on November 4, 2026.

Insider Buying and Selling at SiTime Corporation

A cluster of corporate insiders lightened their holdings in the weeks following the filing period. On June 12, 2026, Executive Vice President Vincent Pangrazio sold 2,000 shares at an average price of $725.32, bringing in $1.45 million. On the same day, Director Raman Chitkara sold 2,000 shares at $727.38 per share, totaling $1.45 million, under a pre-arranged Rule 10b5-1 trading plan.

The selling continued on June 15, 2026, when Chief Executive Officer Rajesh Vashist disposed of 20,000 shares at an average price of $750.15, a transaction valued at $15.00 million executed via a 10b5-1 plan. Executive Vice President Lionel Bonnot also sold 500 shares on June 15, 2026, at $736.02 per share, yielding $368,010.

Wall Street Analysts Remain Highly Optimistic

Equity research analysts have kept a close eye on the silicon timing leader, with several firms publishing positive updates. On August 6, 2026, Needham maintained its buy rating and raised its price target from $850.00 to $900.00. That same day, UBS maintained its buy rating and lifted its target to $840.00 from $775.00. Benchmark initiated coverage on August 20, 2026, with a buy rating and an $850.00 price target.

More recently, Morgan Stanley initiated coverage on September 17, 2026, with an overweight rating and a target of $730.00. Seaport Global took a more cautious approach on September 23, 2026, initiating coverage with a neutral rating. Overall, the consensus among 10 analysts is highly positive, with a mean price target of $849.50.

Semiconductor Innovation in Silicon Timing

SiTime Corporation designs and sells silicon-based timing solutions, which replace traditional quartz crystals in electronics. Its oscillators, clock integrated circuits, and resonators are critical components used to synchronize data flow in artificial intelligence platforms, automotive electronics, and military aerospace technology. As AI data centers demand faster and more reliable components, SiTime has carved out a vital niche in the semiconductor landscape.

What's Ahead for SiTime Corporation

Investors tracking SiTime will want to watch the upcoming earnings release on November 4, 2026, to see if the company's financial growth justifies its premium trading multiples. Additionally, future 13F filings will reveal whether Driehaus Capital continues to scale back its investment or if other institutional growth managers are stepping in to absorb the shares.