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

New York State Common Retirement Fund cut its holdings in SiTime Corporation (NASDAQ:SITM - Free Report) by 10.6% in the 1st quarter, according to its most recent 13F filing with the SEC. 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 0.06% of SiTime worth $2,054,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Fourth Dimension Wealth LLC purchased a new stake in SiTime during the 4th quarter worth $25,000. Opal Wealth Advisors LLC purchased a new position in SiTime in the 1st quarter valued at about $32,000. Aster Capital Management DIFC Ltd purchased a new position in SiTime in the 4th quarter valued at about $58,000. Lazard Asset Management LLC acquired a new stake in shares of SiTime in the 4th quarter valued at about $81,000. Finally, Aquatic Capital Management LLC acquired a new stake in shares of SiTime in the 4th quarter valued at about $192,000. 84.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at SiTime

In other SiTime news, CEO Rajesh Vashist sold 20,000 shares of the business's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $210.65, for a total value of $4,213,000.00. Following the completion of the transaction, the chief executive officer directly owned 490,320 shares of the company's stock, valued at approximately $103,285,908. The trade was a 3.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Vincent P. Pangrazio sold 5,026 shares of the business's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $204.55, for a total transaction of $1,028,068.30. Following the completion of the transaction, the insider directly owned 64,842 shares of the company's stock, valued at approximately $13,263,431.10. This represents a 7.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 65,818 shares of company stock valued at $13,601,258. 2.10% of the stock is owned by company insiders.

SiTime Stock Performance

Shares of NASDAQ:SITM traded down $3.46 on Friday, hitting $190.16. 255,006 shares of the company were exchanged, compared to its average volume of 316,963. The company's 50 day moving average price is $209.01 and its two-hundred day moving average price is $187.74. SiTime Corporation has a one year low of $105.40 and a one year high of $268.18. The firm has a market capitalization of $4.51 billion, a price-to-earnings ratio of -50.04 and a beta of 2.20.

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

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Stifel Nicolaus upped their target price on shares of SiTime from $210.00 to $230.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Barclays increased their price objective 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 equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $228.00.

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.