State of New Jersey Common Pension Fund D Takes Position in SiTime Co. (NASDAQ:SITM)

State of New Jersey Common Pension Fund D acquired a new stake in shares of SiTime Co. (NASDAQ:SITM) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 14,801 shares of the company’s stock, valued at approximately $1,841,000. State of New Jersey Common Pension Fund D owned about 0.06% of SiTime as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Los Angeles Capital Management LLC acquired a new stake in SiTime in the 2nd quarter worth about $647,000. Arizona State Retirement System boosted its position in shares of SiTime by 10.7% in the second quarter. Arizona State Retirement System now owns 5,122 shares of the company’s stock worth $637,000 after acquiring an additional 493 shares during the last quarter. Rhumbline Advisers grew its holdings in SiTime by 1.5% in the second quarter. Rhumbline Advisers now owns 51,019 shares of the company’s stock valued at $6,346,000 after purchasing an additional 745 shares during the period. Lisanti Capital Growth LLC acquired a new position in SiTime during the second quarter worth approximately $4,009,000. Finally, nVerses Capital LLC purchased a new position in SiTime during the second quarter worth approximately $124,000. 84.31% of the stock is currently owned by hedge funds and other institutional investors.

SiTime Stock Down 0.2 %

Shares of NASDAQ:SITM opened at $163.31 on Tuesday. The company’s 50-day moving average price is $140.64 and its 200 day moving average price is $119.71. The company has a market cap of $3.74 billion, a PE ratio of -39.54 and a beta of 1.82. SiTime Co. has a fifty-two week low of $72.39 and a fifty-two week high of $170.71.

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

Analyst Ratings Changes

SITM has been the topic of several recent research reports. Stifel Nicolaus upped their price target on SiTime from $150.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Needham & Company LLC reaffirmed a “buy” rating and set a $130.00 price target on shares of SiTime in a research note on Tuesday, June 25th. Finally, Barclays cut shares of SiTime from an “equal weight” rating to an “underweight” rating and set a $90.00 price objective for the company. in a research report on Tuesday, August 27th.

Insider Activity at SiTime

In other news, CEO Rajesh Vashist sold 20,000 shares of SiTime stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $170.07, for a total transaction of $3,401,400.00. Following the transaction, the chief executive officer now owns 424,417 shares in the company, valued at $72,180,599.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Piyush B. Sevalia sold 6,331 shares of the company’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $140.20, for a total value of $887,606.20. Following the transaction, the executive vice president now directly owns 83,293 shares of the company’s stock, valued at $11,677,678.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Rajesh Vashist sold 20,000 shares of SiTime stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $170.07, for a total value of $3,401,400.00. Following the sale, the chief executive officer now directly owns 424,417 shares of the company’s stock, valued at approximately $72,180,599.19. The disclosure for this sale can be found here. Insiders sold 46,988 shares of company stock worth $7,166,828 in the last quarter. 2.30% of the stock is owned by company insiders.

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.