SiTime Co. (NASDAQ:SITM) Shares Acquired by Texas Permanent School Fund

Texas Permanent School Fund increased its position in SiTime Co. (NASDAQ:SITM – Get Rating) by 2.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,488 shares of the company’s stock after buying an additional 234 shares during the quarter. Texas Permanent School Fund owned about 0.05% of SiTime worth $904,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. New York State Teachers Retirement System raised its position in shares of SiTime by 41.5% in the 2nd quarter. New York State Teachers Retirement System now owns 21,583 shares of the company’s stock worth $3,519,000 after buying an additional 6,327 shares during the period. Walleye Capital LLC purchased a new position in shares of SiTime in the 2nd quarter worth $512,000. Frontier Capital Management Co. LLC raised its position 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 during the period. PFG Advisors raised its position in shares of SiTime by 50.5% in the 3rd quarter. PFG Advisors now owns 2,861 shares of the company’s stock worth $225,000 after buying an additional 960 shares during the period. Finally, Principal Financial Group Inc. raised its position in shares of SiTime by 19.3% in the 2nd quarter. Principal Financial Group Inc. now owns 394,362 shares of the company’s stock worth $64,292,000 after buying an additional 63,708 shares during the period. 74.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on SITM shares. Raymond James cut their price objective on SiTime from $240.00 to $120.00 and set an “outperform” rating on the stock in a research report on Thursday, November 3rd. Credit Suisse Group started coverage on SiTime in a research report on Tuesday, November 15th. They issued an “outperform” rating and a $135.00 price objective on the stock. TheStreet raised SiTime from a “d+” rating to a “c” rating in a research report on Monday, November 21st. Needham & Company LLC cut their price objective on SiTime from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Thursday, November 3rd. Finally, Barclays cut their price objective 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 equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $116.50.

Insider Transactions at SiTime

In related news, insider Lionel Bonnot sold 399 shares of SiTime stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $87.00, for a total value of $34,713.00. Following the completion of the transaction, the insider now directly owns 104,510 shares in the company, valued at $9,092,370. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Lionel Bonnot sold 399 shares of the business’s stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $87.00, for a total transaction of $34,713.00. Following the sale, the insider now owns 104,510 shares of the company’s stock, valued at $9,092,370. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Vincent P. Pangrazio sold 701 shares of the company’s stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $105.04, for a total value of $73,633.04. Following the completion of the transaction, the insider now directly owns 85,397 shares in the company, valued at approximately $8,970,100.88. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 21,242 shares of company stock valued at $2,155,137. 1.16% of the stock is currently owned by insiders.

SiTime Stock Performance

Shares of NASDAQ SITM opened at $106.53 on Friday. SiTime Co. has a 1 year low of $73.10 and a 1 year high of $270.92. The firm has a market cap of $2.28 billion, a price-to-earnings ratio of 53.27 and a beta of 1.90. The stock’s 50-day simple moving average is $102.09 and its 200-day simple moving average is $111.93.

SiTime (NASDAQ:SITM – Get Rating) last announced its earnings results on Wednesday, November 2nd. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.02). SiTime had a return on equity of 6.71% and a net margin of 14.95%. The business had revenue of $73.10 million for the quarter, compared to analysts’ expectations of $73.03 million. As a group, research analysts predict that SiTime Co. will post 1.04 EPS for the current year.

SiTime Company Profile

(Get Rating)

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.