State Board of Administration of Florida Retirement System lowered its stake in shares of SiTime Co. (NASDAQ:SITM – Get Rating) by 2.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,764 shares of the company’s stock after selling 160 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in SiTime were worth $940,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in SiTime by 1.3% during the first quarter. BlackRock Inc. now owns 1,706,274 shares of the company’s stock worth $422,847,000 after purchasing an additional 22,522 shares during the period. Vanguard Group Inc. boosted its position in SiTime by 1.2% during the first quarter. Vanguard Group Inc. now owns 1,461,329 shares of the company’s stock worth $362,147,000 after purchasing an additional 16,757 shares during the period. State Street Corp boosted its position in shares of SiTime by 8.0% in the first quarter. State Street Corp now owns 648,161 shares of the company’s stock valued at $160,627,000 after acquiring an additional 48,087 shares during the period. Trigran Investments Inc. boosted its position in shares of SiTime by 15.7% in the second quarter. Trigran Investments Inc. now owns 428,528 shares of the company’s stock valued at $69,864,000 after acquiring an additional 58,043 shares during the period. Finally, Invesco Ltd. boosted its position in shares of SiTime by 2.1% in the first quarter. Invesco Ltd. now owns 398,167 shares of the company’s stock valued at $98,673,000 after acquiring an additional 8,155 shares during the period. Institutional investors own 72.84% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities research analysts have recently weighed in on the company. Needham & Company LLC reduced their price objective on SiTime from $125.00 to $115.00 and set a “buy” rating for the company in a research report on Thursday, November 3rd. Raymond James reduced their price objective on SiTime from $240.00 to $120.00 and set an “outperform” rating for the company in a research report on Thursday, November 3rd. Barclays reduced their price objective on SiTime from $130.00 to $96.00 and set an “overweight” rating for the company in a research report on Thursday, November 3rd. Finally, Credit Suisse Group assumed coverage on SiTime in a research note on Tuesday. They issued an “outperform” rating and a $135.00 target price for the company. Four investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $116.50.
Insiders Place Their Bets
SiTime Price Performance
SiTime stock opened at $102.80 on Friday. The stock has a fifty day moving average price of $87.60 and a two-hundred day moving average price of $137.45. SiTime Co. has a 52-week low of $73.10 and a 52-week high of $341.77. The firm has a market capitalization of $2.20 billion, a P/E ratio of 51.40, a P/E/G ratio of 7.14 and a beta of 1.90.
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.
- Get a free copy of the StockNews.com research report on SiTime (SITM)
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