SiTime Co. (NASDAQ:SITM) Stock Position Increased by Texas Permanent School Fund

Texas Permanent School Fund lifted its position in SiTime Co. (NASDAQ:SITMGet Rating) by 5.9% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,254 shares of the company’s stock after buying an additional 628 shares during the period. Texas Permanent School Fund owned approximately 0.05% of SiTime worth $1,835,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of SITM. Polar Capital Holdings Plc bought a new stake in shares of SiTime in the 1st quarter worth $79,076,000. Frontier Capital Management Co. LLC raised its stake in shares of SiTime by 285.0% in the 2nd quarter. Frontier Capital Management Co. LLC now owns 343,774 shares of the company’s stock worth $56,045,000 after buying an additional 254,472 shares in the last quarter. Trigran Investments Inc. raised its stake in shares of SiTime by 31.8% in the 1st quarter. Trigran Investments Inc. now owns 370,485 shares of the company’s stock worth $91,813,000 after buying an additional 89,474 shares in the last quarter. Wasatch Advisors Inc. raised its stake in shares of SiTime by 17.5% in the 1st quarter. Wasatch Advisors Inc. now owns 359,740 shares of the company’s stock worth $89,151,000 after buying an additional 53,646 shares in the last quarter. Finally, State Street Corp raised its stake in shares of SiTime by 8.0% in the 1st quarter. State Street Corp now owns 648,161 shares of the company’s stock worth $160,627,000 after buying an additional 48,087 shares in the last quarter. Institutional investors own 72.84% of the company’s stock.

SiTime Trading Down 8.1 %

NASDAQ:SITM opened at $102.16 on Thursday. The firm has a market capitalization of $2.19 billion, a price-to-earnings ratio of 51.08, a PEG ratio of 6.91 and a beta of 1.90. SiTime Co. has a 1-year low of $73.10 and a 1-year high of $341.77. The business’s fifty day moving average price is $87.51 and its 200 day moving average price is $137.70.

Insider Activity at SiTime

In related news, insider Lionel Bonnot sold 1,159 shares of the company’s stock in a transaction on Thursday, November 10th. The stock was sold at an average price of $100.00, for a total transaction of $115,900.00. Following the transaction, the insider now directly owns 103,351 shares of the company’s stock, valued at $10,335,100. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other SiTime news, insider Fariborz Assaderaghi sold 468 shares of the business’s stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $113.00, for a total value of $52,884.00. Following the transaction, the insider now owns 116,685 shares in the company, valued at $13,185,405. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Lionel Bonnot sold 1,159 shares of the business’s stock in a transaction dated Thursday, November 10th. The shares were sold at an average price of $100.00, for a total value of $115,900.00. Following the completion of the transaction, the insider now owns 103,351 shares in the company, valued at approximately $10,335,100. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,026 shares of company stock valued at $203,497. Company insiders own 1.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Credit Suisse Group initiated coverage on SiTime in a research note on Tuesday. They issued an “outperform” rating and a $135.00 price objective on the stock. Needham & Company LLC cut their target price on SiTime from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Thursday, November 3rd. Raymond James cut their target price on SiTime from $240.00 to $120.00 and set an “outperform” rating on the stock in a research report on Thursday, November 3rd. Finally, Barclays cut their target price on SiTime from $130.00 to $96.00 and set an “overweight” rating on the stock in a research report on Thursday, November 3rd. Four analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $116.50.

SiTime Profile

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SiTime Corporation designs, develops, and sells silicon timing systems solutions in Taiwan, Hong Kong, the United States, and internationally. The company provides resonators and clock integrated circuits, and various types of oscillators. Its solutions have applications in various markets, including communications and enterprise, automotive, industrial, Internet of Things, mobile, consumer, and aerospace and defense.

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Institutional Ownership by Quarter for SiTime (NASDAQ:SITM)

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