SiTime Corporation (NASDAQ:SITM) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System lessened its stake in SiTime Corporation (NASDAQ:SITM) by 1.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,000 shares of the company’s stock after selling 100 shares during the quarter. Louisiana State Employees Retirement System’s holdings in SiTime were worth $1,376,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in SITM. Emerald Advisers LLC increased its stake in shares of SiTime by 32.6% in the first quarter. Emerald Advisers LLC now owns 115,433 shares of the company’s stock worth $17,646,000 after buying an additional 28,393 shares during the last quarter. Emerald Mutual Fund Advisers Trust raised its holdings in SiTime by 26.8% during the 1st quarter. Emerald Mutual Fund Advisers Trust now owns 48,461 shares of the company’s stock worth $7,408,000 after buying an additional 10,242 shares during the period. Xponance Inc. increased its holdings in shares of SiTime by 7.2% in the 1st quarter. Xponance Inc. now owns 1,419 shares of the company’s stock valued at $217,000 after purchasing an additional 95 shares during the period. Values First Advisors Inc. acquired a new position in SiTime in the first quarter worth approximately $219,000. Finally, Envestnet Asset Management Inc. grew its holdings in SiTime by 4.5% during the first quarter. Envestnet Asset Management Inc. now owns 15,353 shares of the company’s stock valued at $2,347,000 after purchasing an additional 657 shares during the last quarter. 84.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SITM. Stifel Nicolaus lifted their price objective on SiTime from $180.00 to $210.00 and gave the company a “buy” rating in a report on Thursday, May 8th. Barclays lifted their price objective on SiTime from $135.00 to $180.00 and gave the company an “underweight” rating in a report on Wednesday, June 11th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $224.00.

SiTime Price Performance

NASDAQ SITM opened at $209.22 on Friday. SiTime Corporation has a one year low of $105.40 and a one year high of $268.18. The business has a 50 day simple moving average of $208.87 and a 200 day simple moving average of $188.49. The stock has a market capitalization of $4.96 billion, a P/E ratio of -55.06 and a beta of 2.20.

SiTime (NASDAQ:SITM) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.15. SiTime had a negative return on equity of 9.43% and a negative net margin of 38.60%. The business had revenue of $60.31 million for the quarter, compared to analyst estimates of $54.01 million. During the same period last year, the company posted ($0.08) earnings per share. SiTime’s quarterly revenue was up 82.7% compared to the same quarter last year. Equities analysts expect that SiTime Corporation will post -2.44 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Samsheer Ahamad sold 7,728 shares of the company’s stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $207.41, for a total value of $1,602,864.48. Following the completion of the transaction, the insider directly owned 78,095 shares in the company, valued at approximately $16,197,683.95. This represents a 9.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Fariborz Assaderaghi sold 5,112 shares of the stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $205.53, for a total value of $1,050,669.36. Following the completion of the sale, the insider owned 107,204 shares of the company’s stock, valued at approximately $22,033,638.12. This trade represents a 4.55% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 63,818 shares of company stock worth $13,171,258. 2.10% of the stock is owned by corporate 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.