SiTime Co. (NASDAQ:SITM) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D trimmed its position in shares of SiTime Co. (NASDAQ:SITM) by 7.3% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,725 shares of the company’s stock after selling 1,076 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.06% of SiTime worth $2,354,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Driehaus Capital Management LLC purchased a new stake in shares of SiTime in the 2nd quarter valued at approximately $16,831,000. Vanguard Group Inc. lifted its holdings in SiTime by 4.1% during the 1st quarter. Vanguard Group Inc. now owns 2,203,286 shares of the company’s stock worth $205,412,000 after buying an additional 85,800 shares during the last quarter. William Blair Investment Management LLC boosted its position in shares of SiTime by 62.0% during the 2nd quarter. William Blair Investment Management LLC now owns 208,098 shares of the company’s stock worth $25,883,000 after acquiring an additional 79,648 shares in the last quarter. F M Investments LLC purchased a new position in shares of SiTime in the 2nd quarter valued at about $8,909,000. Finally, Principal Financial Group Inc. raised its position in shares of SiTime by 15.4% during 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. Institutional investors and hedge funds own 84.31% of the company’s stock.

Wall Street Analyst Weigh In

SITM has been the topic of several recent analyst reports. Needham & Company LLC increased their price target on shares of SiTime from $140.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Stifel Nicolaus lifted their price target on shares of SiTime from $175.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Barclays upped their price objective on shares of SiTime from $90.00 to $130.00 and gave the company an “underweight” rating in a research note on Friday, November 8th. Finally, Roth Mkm lifted their target price on SiTime from $205.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th.

SiTime Price Performance

Shares of NASDAQ:SITM opened at $202.32 on Thursday. The stock has a market cap of $4.73 billion, a P/E ratio of -48.87 and a beta of 1.83. SiTime Co. has a 1-year low of $72.39 and a 1-year high of $228.12. The firm has a fifty day moving average price of $172.02 and a 200 day moving average price of $144.00.

SiTime (NASDAQ:SITM) last announced its earnings results on Wednesday, November 6th. The company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.14. The business had revenue of $57.70 million during the quarter, compared to the consensus estimate of $55.10 million. SiTime had a negative net margin of 53.55% and a negative return on equity of 9.89%. The business’s quarterly revenue was up 62.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.81) earnings per share. Sell-side analysts expect that SiTime Co. will post -3.03 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Rajesh Vashist sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $170.07, for a total value of $3,401,400.00. Following the transaction, the chief executive officer now owns 424,417 shares of the company’s stock, valued at approximately $72,180,599.19. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other SiTime news, insider Fariborz Assaderaghi sold 1,083 shares of SiTime stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $139.05, for a total value of $150,591.15. Following the sale, the insider now owns 112,584 shares of the company’s stock, valued at approximately $15,654,805.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Rajesh Vashist sold 20,000 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $170.07, for a total value of $3,401,400.00. Following the transaction, the chief executive officer now directly owns 424,417 shares of the company’s stock, valued at approximately $72,180,599.19. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,464 shares of company stock valued at $6,698,053. 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.