State of Tennessee Department of Treasury Sells 298 Shares of SiTime Co. (NASDAQ:SITM)

State of Tennessee Department of Treasury lessened its holdings in shares of SiTime Co. (NASDAQ:SITM) by 3.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,873 shares of the company’s stock after selling 298 shares during the quarter. State of Tennessee Department of Treasury’s holdings in SiTime were worth $1,689,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Blue Trust Inc. lifted its stake in shares of SiTime by 44.7% in the 4th quarter. Blue Trust Inc. now owns 217 shares of the company’s stock valued at $47,000 after purchasing an additional 67 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of SiTime in the fourth quarter worth about $58,000. Smartleaf Asset Management LLC boosted its stake in shares of SiTime by 278.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 280 shares of the company’s stock worth $60,000 after acquiring an additional 206 shares in the last quarter. AlphaQuest LLC increased its holdings in shares of SiTime by 8,460.0% during the 4th quarter. AlphaQuest LLC now owns 428 shares of the company’s stock valued at $92,000 after acquiring an additional 423 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new position in shares of SiTime in the 4th quarter valued at approximately $130,000. 84.31% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on SITM. Raymond James reiterated an “outperform” rating and set a $250.00 price target (up previously from $215.00) on shares of SiTime in a report on Thursday, February 6th. Stifel Nicolaus lowered their target price on shares of SiTime from $270.00 to $180.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Needham & Company LLC boosted their target price on shares of SiTime from $225.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Finally, Barclays lowered their price target on SiTime from $180.00 to $110.00 and set an “underweight” rating on the stock in a research report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $204.00.

Insider Activity at SiTime

In other SiTime news, insider Piyush B. Sevalia sold 1,038 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $157.64, for a total value of $163,630.32. Following the completion of the sale, the insider now owns 92,847 shares in the company, valued at approximately $14,636,401.08. This trade represents a 1.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Fariborz Assaderaghi sold 1,003 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $204.42, for a total value of $205,033.26. Following the sale, the insider now owns 99,678 shares in the company, valued at approximately $20,376,176.76. This represents a 1.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,542 shares of company stock worth $978,713. Company insiders own 2.30% of the company’s stock.

SiTime Price Performance

Shares of SiTime stock opened at $146.79 on Wednesday. The company has a market cap of $3.48 billion, a PE ratio of -36.24 and a beta of 1.98. The firm has a fifty day moving average price of $153.31 and a two-hundred day moving average price of $190.15. SiTime Co. has a fifty-two week low of $86.73 and a fifty-two week high of $268.18.

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.