SiTime Co. (NASDAQ:SITM) Shares Bought by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System raised its position in SiTime Co. (NASDAQ:SITM) by 2.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,100 shares of the company’s stock after acquiring an additional 200 shares during the period. Louisiana State Employees Retirement System’s holdings in SiTime were worth $1,561,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of SITM. Signaturefd LLC boosted its stake in SiTime by 67.4% in the third quarter. Signaturefd LLC now owns 149 shares of the company’s stock valued at $26,000 after acquiring an additional 60 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in SiTime by 59.5% in the second quarter. Nisa Investment Advisors LLC now owns 236 shares of the company’s stock valued at $29,000 after acquiring an additional 88 shares in the last quarter. GAMMA Investing LLC boosted its stake in SiTime by 281.0% in the second quarter. GAMMA Investing LLC now owns 381 shares of the company’s stock valued at $47,000 after acquiring an additional 281 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in SiTime in the second quarter valued at approximately $49,000. Finally, PNC Financial Services Group Inc. boosted its stake in SiTime by 35.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 689 shares of the company’s stock valued at $84,000 after acquiring an additional 180 shares in the last quarter. 84.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Fariborz Assaderaghi sold 1,083 shares of the firm’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $139.05, for a total transaction of $150,591.15. Following the completion of the transaction, the insider now owns 112,584 shares of the company’s stock, valued at $15,654,805.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other SiTime news, insider Lionel Bonnot sold 3,230 shares of SiTime stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $140.55, for a total value of $453,976.50. Following the completion of the transaction, the insider now owns 87,525 shares of the company’s stock, valued at approximately $12,301,638.75. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Fariborz Assaderaghi sold 1,083 shares of SiTime stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $139.05, for a total transaction of $150,591.15. Following the completion of the transaction, the insider now directly owns 112,584 shares of the company’s stock, valued at $15,654,805.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,464 shares of company stock valued at $4,681,973 over the last 90 days. Insiders own 2.30% of the company’s stock.

SiTime Trading Down 7.2 %

NASDAQ SITM opened at $169.01 on Friday. The company has a fifty day simple moving average of $163.20 and a two-hundred day simple moving average of $136.42. SiTime Co. has a 12-month low of $72.39 and a 12-month high of $188.98. The stock has a market cap of $3.91 billion, a P/E ratio of -41.02 and a beta of 1.82.

SiTime (NASDAQ:SITM) last issued its earnings results on Wednesday, August 7th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.08. SiTime had a negative net margin of 60.46% and a negative return on equity of 10.53%. The firm had revenue of $43.90 million during the quarter, compared to analysts’ expectations of $41.01 million. During the same quarter last year, the company posted ($1.17) earnings per share. The firm’s revenue was up 58.5% compared to the same quarter last year. As a group, sell-side analysts forecast that SiTime Co. will post -3.03 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SITM has been the subject of a number of research analyst reports. Barclays cut shares of SiTime from an “equal weight” rating to an “underweight” rating and set a $90.00 price target for the company. in a report on Tuesday, August 27th. Stifel Nicolaus raised their price target on shares of SiTime from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, October 17th.

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.