Louisiana State Employees Retirement System Acquires Shares of 8,700 SiTime Co. (NASDAQ:SITM)

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

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Amalgamated Bank raised its stake in SiTime by 1.5% during the 3rd quarter. Amalgamated Bank now owns 7,606 shares of the company’s stock valued at $869,000 after acquiring an additional 113 shares during the last quarter. Arizona State Retirement System raised its stake in shares of SiTime by 2.5% during the 3rd quarter. Arizona State Retirement System now owns 4,687 shares of the company’s stock worth $535,000 after buying an additional 115 shares in the last quarter. Oppenheimer Asset Management Inc. raised its stake in shares of SiTime by 2.9% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 4,287 shares of the company’s stock worth $490,000 after buying an additional 120 shares in the last quarter. Pathstone Family Office LLC raised its stake in shares of SiTime by 5.9% during the 3rd quarter. Pathstone Family Office LLC now owns 2,410 shares of the company’s stock worth $275,000 after buying an additional 135 shares in the last quarter. Finally, Cavalier Investments LLC raised its stake in shares of SiTime by 3.5% during the 3rd quarter. Cavalier Investments LLC now owns 9,256 shares of the company’s stock worth $1,057,000 after buying an additional 314 shares in the last quarter. 84.31% of the stock is owned by hedge funds and other institutional investors.

SiTime Price Performance

NASDAQ SITM opened at $74.56 on Wednesday. SiTime Co. has a 1-year low of $72.39 and a 1-year high of $141.99. The company has a market capitalization of $1.71 billion, a P/E ratio of -20.54 and a beta of 1.78. The business has a 50 day moving average price of $90.57 and a 200 day moving average price of $106.04.

SiTime (NASDAQ:SITM) last released its quarterly earnings data 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 firm had revenue of $42.40 million during the quarter, compared to analysts’ expectations of $41.65 million. On average, research analysts expect that SiTime Co. will post -2.3 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Insider Buying and Selling at SiTime

In other SiTime news, insider Fariborz Assaderaghi sold 1,026 shares of the stock in a transaction on Monday, January 29th. The stock was sold at an average price of $116.37, for a total transaction of $119,395.62. Following the sale, the insider now owns 94,056 shares in the company, valued at approximately $10,945,296.72. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last 90 days, insiders have sold 3,340 shares of company stock worth $330,780. 2.30% of the stock is owned by 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.