New York State Teachers Retirement System Increases Stock Position in SiTime Co. (NASDAQ:SITM)

New York State Teachers Retirement System grew its holdings in shares of SiTime Co. (NASDAQ:SITM) by 0.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,700 shares of the company’s stock after buying an additional 100 shares during the quarter. New York State Teachers Retirement System owned 0.10% of SiTime worth $5,084,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in SITM. LMR Partners LLP grew its holdings in SiTime by 705.0% during the 3rd quarter. LMR Partners LLP now owns 80,500 shares of the company’s stock valued at $13,807,000 after purchasing an additional 70,500 shares during the last quarter. Principal Financial Group Inc. grew its stake in SiTime by 15.4% in the 3rd quarter. Principal Financial Group Inc. now owns 448,930 shares of the company’s stock worth $76,996,000 after acquiring an additional 59,931 shares in the last quarter. FMR LLC grew its stake in SiTime by 1.1% in the 3rd quarter. FMR LLC now owns 3,469,843 shares of the company’s stock worth $595,113,000 after acquiring an additional 39,119 shares in the last quarter. State Street Corp grew its stake in SiTime by 3.1% in the 3rd quarter. State Street Corp now owns 922,974 shares of the company’s stock worth $158,299,000 after acquiring an additional 27,692 shares in the last quarter. Finally, Barclays PLC grew its stake in SiTime by 80.7% in the 3rd quarter. Barclays PLC now owns 37,982 shares of the company’s stock worth $6,515,000 after acquiring an additional 16,964 shares in the last quarter. 84.31% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on SITM. Stifel Nicolaus upped their target price on shares of SiTime from $250.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Needham & Company LLC upped their target price on shares of SiTime from $225.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Roth Mkm upped their target price on shares of SiTime from $205.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Barclays upped their target price on shares of SiTime from $130.00 to $160.00 and gave the stock an “underweight” rating in a research note on Friday, January 17th. Finally, Raymond James restated an “outperform” rating and issued a $250.00 target price (up from $215.00) on shares of SiTime in a research note on Thursday, February 6th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, SiTime presently has a consensus rating of “Moderate Buy” and a consensus price target of $232.00.

Insider Transactions at SiTime

In other SiTime news, insider Fariborz Assaderaghi sold 1,002 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $216.85, for a total value of $217,283.70. Following the completion of the transaction, the insider now owns 102,683 shares of the company’s stock, valued at approximately $22,266,808.55. This trade represents a 0.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Raman Chitkara sold 500 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $265.00, for a total transaction of $132,500.00. Following the completion of the transaction, the director now directly owns 20,719 shares of the company’s stock, valued at approximately $5,490,535. This represents a 2.36 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,934 shares of company stock valued at $4,996,438. Company insiders own 2.30% of the company’s stock.

SiTime Stock Performance

Shares of SITM opened at $180.11 on Friday. The company has a 50 day moving average price of $217.79 and a 200-day moving average price of $188.83. SiTime Co. has a fifty-two week low of $72.39 and a fifty-two week high of $268.18. The stock has a market capitalization of $4.25 billion, a PE ratio of -44.47 and a beta of 1.80.

SiTime Company 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.