SiTime Corporation $SITM Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System decreased its stake in SiTime Corporation (NASDAQ:SITM - Free Report) by 1.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,188 shares of the company's stock after selling 467 shares during the quarter. California State Teachers Retirement System owned approximately 0.08% of SiTime worth $18,779,165 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of SITM. BlackRock Inc. acquired a new position in shares of SiTime during the second quarter valued at about $1,781,937,000. Geode Capital Management LLC grew its holdings in SiTime by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 539,425 shares of the company's stock worth $190,550,000 after acquiring an additional 15,850 shares during the period. Bank of New York Mellon Corp lifted its position in SiTime by 5.4% during the first quarter. Bank of New York Mellon Corp now owns 372,943 shares of the company's stock worth $128,796,000 after buying an additional 18,983 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in SiTime by 13.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 249,714 shares of the company's stock valued at $88,196,000 after buying an additional 30,464 shares during the period. Finally, Norges Bank acquired a new stake in SiTime during the 4th quarter worth $83,977,000. Institutional investors own 84.31% of the company's stock.

Insider Activity at SiTime

In other SiTime news, Director Katherine Schuelke sold 500 shares of the stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $698.05, for a total value of $349,025.00. Following the completion of the sale, the director owned 12,010 shares in the company, valued at approximately $8,383,580.50. This trade represents a 4.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Edward H. Frank sold 1,000 shares of the business's stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $745.00, for a total value of $745,000.00. Following the completion of the transaction, the director owned 10,999 shares in the company, valued at $8,194,255. The trade was a 8.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 14,550 shares of company stock worth $9,093,418. 1.40% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on SITM. Wall Street Zen raised SiTime from a "hold" rating to a "buy" rating in a report on Sunday, July 12th. Needham & Company LLC upped their target price on SiTime from $850.00 to $900.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Weiss Ratings raised shares of SiTime from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, September 8th. Zacks Research raised shares of SiTime from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 13th. Finally, Benchmark started coverage on shares of SiTime in a research note on Wednesday, August 19th. They issued a "buy" rating and a $850.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $761.25.

SiTime Price Performance

NASDAQ SITM traded down $11.64 during midday trading on Tuesday, hitting $546.71. The company had a trading volume of 223,065 shares, compared to its average volume of 470,329. The firm has a 50-day moving average price of $600.69 and a 200-day moving average price of $572.24. SiTime Corporation has a twelve month low of $243.68 and a twelve month high of $901.81. The company has a current ratio of 19.44, a quick ratio of 18.50 and a debt-to-equity ratio of 1.29. The company has a market capitalization of $16.44 billion, a PE ratio of 1,118.09 and a beta of 2.86.

SiTime (NASDAQ:SITM - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $2.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.39. SiTime had a return on equity of 4.99% and a net margin of 3.01%.The company had revenue of $157.43 million for the quarter, compared to analysts' expectations of $146.46 million. During the same period in the previous year, the firm posted $0.47 EPS. SiTime's revenue was up 126.5% compared to the same quarter last year. SiTime has set its Q3 2026 guidance at 3.500-3.650 EPS. As a group, analysts anticipate that SiTime Corporation will post 6.33 earnings per share for the current fiscal year.

SiTime Profile

SiTime Corporation NASDAQ: SITM is a semiconductor company that develops precision timing solutions based on microelectromechanical systems (MEMS) technology. Its products are designed to generate, distribute and synchronize the timing signals used by electronic systems and are intended to provide alternatives to traditional quartz-based timing components.

The company's portfolio includes MEMS oscillators, clock generators, clock buffers, resonators and related timing devices. These products are used in applications such as data centers, wired and wireless communications infrastructure, automotive systems, industrial equipment, consumer electronics, aerospace and defense systems, and other high-performance electronic devices.

SiTime was founded in 2004 and is headquartered in Santa Clara, California.

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