Renaissance Technologies LLC Buys Shares of 11,400 SiTime Co. (NASDAQ:SITM)

Renaissance Technologies LLC acquired a new position in SiTime Co. (NASDAQ:SITM - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 11,400 shares of the company's stock, valued at approximately $2,446,000.

A number of other large investors have also recently modified their holdings of the stock. Mutual of America Capital Management LLC increased its holdings in shares of SiTime by 1.7% in the 4th quarter. Mutual of America Capital Management LLC now owns 2,866 shares of the company's stock worth $615,000 after purchasing an additional 48 shares in the last quarter. State of Alaska Department of Revenue raised its position in SiTime by 0.5% in the 4th quarter. State of Alaska Department of Revenue now owns 10,755 shares of the company's stock worth $2,307,000 after buying an additional 57 shares during the last quarter. Blue Trust Inc. lifted its stake in SiTime by 44.7% during the 4th quarter. Blue Trust Inc. now owns 217 shares of the company's stock valued at $47,000 after acquiring an additional 67 shares during the period. Arizona State Retirement System boosted its holdings in shares of SiTime by 1.9% during the 4th quarter. Arizona State Retirement System now owns 5,368 shares of the company's stock valued at $1,152,000 after acquiring an additional 99 shares during the last quarter. Finally, New York State Teachers Retirement System raised its holdings in shares of SiTime by 0.4% during the fourth quarter. New York State Teachers Retirement System now owns 23,700 shares of the company's stock valued at $5,084,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 84.31% of the company's stock.

Insider Buying and Selling

In other news, insider Piyush B. Sevalia sold 1,038 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $157.64, for a total transaction of $163,630.32. Following the completion of the sale, the insider now owns 92,847 shares in the company, valued at approximately $14,636,401.08. This represents a 1.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Lionel Bonnot sold 3,501 shares of the business's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $174.25, for a total value of $610,049.25. Following the sale, the insider now owns 87,940 shares in the company, valued at approximately $15,323,545. The trade was a 3.83 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,542 shares of company stock valued at $978,713. Company insiders own 2.30% of the company's stock.

SiTime Stock Performance

Shares of NASDAQ:SITM traded up $13.69 on Thursday, reaching $160.55. The company's stock had a trading volume of 101,365 shares, compared to its average volume of 240,643. The company has a 50-day simple moving average of $152.65 and a 200 day simple moving average of $189.85. SiTime Co. has a 52-week low of $86.73 and a 52-week high of $268.18. The company has a market cap of $3.81 billion, a P/E ratio of -39.55 and a beta of 1.98.

Analysts Set New Price Targets

A number of research analysts have weighed in on SITM shares. Barclays lowered their target price on SiTime from $180.00 to $110.00 and set an "underweight" rating on the stock in a report on Tuesday, April 22nd. Raymond James reaffirmed an "outperform" rating and issued a $250.00 target price (up previously from $215.00) on shares of SiTime in a report on Thursday, February 6th. Stifel Nicolaus cut their price objective on shares of SiTime from $270.00 to $180.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Finally, Needham & Company LLC boosted their target price on SiTime from $225.00 to $250.00 and gave the stock a "buy" rating in a research report on Thursday, February 6th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $204.00.

SiTime 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.