Louisiana State Employees Retirement System Takes Position in SiTime Co. (NASDAQ:SITM)

Louisiana State Employees Retirement System purchased a new stake in shares of SiTime Co. (NASDAQ:SITM) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 8,700 shares of the company’s stock, valued at approximately $1,062,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. FMR LLC grew its holdings in shares of SiTime by 7.5% during the 3rd quarter. FMR LLC now owns 3,054,878 shares of the company’s stock valued at $349,020,000 after acquiring an additional 212,615 shares in the last quarter. Vanguard Group Inc. boosted its holdings in SiTime by 2.9% in the third quarter. Vanguard Group Inc. now owns 2,066,610 shares of the company’s stock worth $236,110,000 after purchasing an additional 58,629 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in SiTime by 8.2% in the third quarter. Ameriprise Financial Inc. now owns 613,583 shares of the company’s stock worth $70,102,000 after purchasing an additional 46,672 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in SiTime by 4.7% in the third quarter. Principal Financial Group Inc. now owns 358,017 shares of the company’s stock worth $40,903,000 after purchasing an additional 16,092 shares in the last quarter. Finally, Bamco Inc. NY boosted its holdings in SiTime by 1.4% in the third quarter. Bamco Inc. NY now owns 257,445 shares of the company’s stock worth $29,413,000 after purchasing an additional 3,600 shares in the last quarter. 84.31% of the stock is currently owned by hedge funds and other institutional investors.

SiTime Price Performance

SiTime stock opened at $74.56 on Wednesday. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of -20.54 and a beta of 1.78. SiTime Co. has a fifty-two week low of $72.39 and a fifty-two week high of $141.99. The firm has a fifty day moving average price of $90.57 and a two-hundred day moving average price of $106.04.

SiTime (NASDAQ:SITM) last released its earnings results on Tuesday, February 13th. The company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.53) by ($0.01). SiTime had a negative net margin of 55.93% and a negative return on equity of 10.21%. The company had revenue of $42.40 million during the quarter, compared to the consensus estimate of $41.65 million. As a group, sell-side analysts expect that SiTime Co. will post -2.3 earnings per share for the current year.

Insider Activity at SiTime

In related news, insider Fariborz Assaderaghi sold 1,288 shares of the stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $90.57, for a total value of $116,654.16. Following the completion of the sale, the insider now owns 111,491 shares in the company, valued at $10,097,739.87. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders sold 3,340 shares of company stock worth $330,780. Company insiders own 2.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on SITM shares. Barclays upped their price objective on shares of SiTime from $110.00 to $130.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 16th. Stifel Nicolaus upped their price objective on shares of SiTime from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, January 2nd. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, SiTime has an average rating of “Moderate Buy” and an average target price of $142.00.

SiTime Profile

SiTime Corporation designs, develops, and sells silicon timing systems solutions in Taiwan, Hong Kong, the United States, Singapore, and internationally. The company provides resonators and clock integrated circuits, and various types of oscillators. It serves various markets, including communications, datacenter, enterprise, automotive, industrial, internet of things, mobile, consumer, and aerospace and defense.