Louisiana State Employees Retirement System Raises Stock Holdings in SiTime Co. (NASDAQ:SITM)

Louisiana State Employees Retirement System lifted its holdings in shares of SiTime Co. (NASDAQ:SITM) by 2.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,900 shares of the company’s stock after purchasing an additional 200 shares during the quarter. Louisiana State Employees Retirement System’s holdings in SiTime were worth $1,107,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP grew its holdings in shares of SiTime by 16.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 246,637 shares of the company’s stock worth $30,112,000 after purchasing an additional 35,491 shares in the last quarter. Norges Bank purchased a new position in shares of SiTime during the fourth quarter worth about $12,662,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of SiTime by 73.5% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 29,500 shares of the company’s stock worth $2,750,000 after purchasing an additional 12,500 shares in the last quarter. International Assets Investment Management LLC boosted its stake in SiTime by 12,108.0% in the fourth quarter. International Assets Investment Management LLC now owns 12,208 shares of the company’s stock worth $1,490,000 after buying an additional 12,108 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its stake in SiTime by 31.5% in the first quarter. CANADA LIFE ASSURANCE Co now owns 18,404 shares of the company’s stock worth $1,712,000 after buying an additional 4,410 shares in the last quarter. Hedge funds and other institutional investors own 84.31% of the company’s stock.

SiTime Stock Performance

Shares of SITM stock opened at $143.03 on Wednesday. SiTime Co. has a fifty-two week low of $72.39 and a fifty-two week high of $165.11. The stock has a 50 day moving average price of $135.75 and a two-hundred day moving average price of $113.81. The company has a market capitalization of $3.27 billion, a P/E ratio of -34.63 and a beta of 1.82.

SiTime (NASDAQ:SITM) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.08. SiTime had a negative return on equity of 10.53% and a negative net margin of 60.46%. The firm had revenue of $43.90 million during the quarter, compared to the consensus estimate of $41.01 million. During the same quarter in the previous year, the company posted ($1.17) earnings per share. The business’s revenue was up 58.5% on a year-over-year basis. As a group, equities analysts predict that SiTime Co. will post -3.03 earnings per share for the current year.

Wall Street Analyst Weigh In

SITM has been the subject of several research reports. Barclays lowered SiTime from an “equal weight” rating to an “underweight” rating and set a $90.00 target price for the company. in a research note on Tuesday. Stifel Nicolaus upped their target price on SiTime from $150.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $130.00 target price on shares of SiTime in a research note on Tuesday, June 25th.

Insider Activity at SiTime

In related news, insider Fariborz Assaderaghi sold 1,083 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $121.61, for a total transaction of $131,703.63. Following the completion of the transaction, the insider now owns 104,186 shares in the company, valued at $12,670,059.46. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider Lionel Bonnot sold 3,230 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $140.55, for a total transaction of $453,976.50. Following the completion of the transaction, the insider now owns 87,525 shares in the company, valued at $12,301,638.75. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Fariborz Assaderaghi sold 1,083 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $121.61, for a total value of $131,703.63. Following the transaction, the insider now owns 104,186 shares of the company’s stock, valued at approximately $12,670,059.46. The disclosure for this sale can be found here. Insiders sold a total of 51,497 shares of company stock worth $6,783,275 over the last quarter. 2.30% of the stock is owned by corporate insiders.

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.