New York State Common Retirement Fund Has $2.05 Million Stake in SiTime Corporation (NASDAQ:SITM)

New York State Common Retirement Fund trimmed its position in SiTime Corporation (NASDAQ:SITM - Free Report) by 10.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 13,438 shares of the company's stock after selling 1,593 shares during the period. New York State Common Retirement Fund owned about 0.06% of SiTime worth $2,054,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of SITM. Summit Investment Advisors Inc. grew its stake in shares of SiTime by 4.5% during the fourth quarter. Summit Investment Advisors Inc. now owns 1,945 shares of the company's stock worth $417,000 after purchasing an additional 83 shares in the last quarter. Xponance Inc. increased its stake in shares of SiTime by 7.2% during the first quarter. Xponance Inc. now owns 1,419 shares of the company's stock worth $217,000 after acquiring an additional 95 shares during the period. Vident Advisory LLC increased its stake in shares of SiTime by 5.0% during the fourth quarter. Vident Advisory LLC now owns 2,199 shares of the company's stock worth $472,000 after acquiring an additional 104 shares during the period. Ellevest Inc. grew its position in SiTime by 2.2% during the fourth quarter. Ellevest Inc. now owns 5,254 shares of the company's stock worth $1,127,000 after buying an additional 113 shares during the period. Finally, Fourth Dimension Wealth LLC purchased a new position in shares of SiTime during the fourth quarter valued at approximately $25,000. 84.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at SiTime

In other news, insider Piyush B. Sevalia sold 1,039 shares of the business's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $220.00, for a total value of $228,580.00. Following the completion of the sale, the insider directly owned 85,516 shares in the company, valued at approximately $18,813,520. The trade was a 1.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Samsheer Ahamad sold 4,000 shares of the business's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $200.00, for a total transaction of $800,000.00. Following the transaction, the insider directly owned 72,021 shares in the company, valued at $14,404,200. This trade represents a 5.26% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 65,818 shares of company stock valued at $13,601,258. Insiders own 2.10% of the company's stock.

SiTime Stock Down 1.8%

Shares of SiTime stock traded down $3.46 during trading on Friday, hitting $190.16. The stock had a trading volume of 255,006 shares, compared to its average volume of 334,396. The company has a market capitalization of $4.51 billion, a PE ratio of -50.04 and a beta of 2.20. The stock has a 50 day simple moving average of $208.60 and a 200 day simple moving average of $187.14. SiTime Corporation has a 1 year low of $105.40 and a 1 year high of $268.18.

SiTime (NASDAQ:SITM - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.11 by $0.15. The firm had revenue of $60.31 million during the quarter, compared to analysts' expectations of $54.01 million. SiTime had a negative net margin of 38.60% and a negative return on equity of 9.43%. The company's revenue was up 82.7% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.08) earnings per share. As a group, equities analysts expect that SiTime Corporation will post -2.44 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SITM. Stifel Nicolaus raised their price target on shares of SiTime from $210.00 to $230.00 and gave the company a "buy" rating in a report on Friday, July 18th. Barclays raised their price target on shares of 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 issued a buy rating to the stock. According to data from MarketBeat.com, SiTime currently has an average rating of "Moderate Buy" and a consensus price target of $228.00.

About SiTime

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.