Counterpoint Mutual Funds LLC Acquires New Holdings in SiTime Co. (NASDAQ:SITM)

Counterpoint Mutual Funds LLC bought a new stake in SiTime Co. (NASDAQ:SITM - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 2,094 shares of the company's stock, valued at approximately $449,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of SITM. Mutual of America Capital Management LLC lifted its position in shares of SiTime by 1.7% in the fourth quarter. Mutual of America Capital Management LLC now owns 2,866 shares of the company's stock valued at $615,000 after buying an additional 48 shares during the last quarter. State of Alaska Department of Revenue lifted its holdings in SiTime by 0.5% during the 4th quarter. State of Alaska Department of Revenue now owns 10,755 shares of the company's stock valued at $2,307,000 after purchasing an additional 57 shares during the last quarter. Blue Trust Inc. boosted its position in SiTime by 44.7% during the fourth quarter. Blue Trust Inc. now owns 217 shares of the company's stock worth $47,000 after purchasing an additional 67 shares during the period. Thrivent Financial for Lutherans increased its holdings in shares of SiTime by 0.6% in the third quarter. Thrivent Financial for Lutherans now owns 14,714 shares of the company's stock valued at $2,524,000 after purchasing an additional 94 shares during the last quarter. Finally, Arizona State Retirement System increased its holdings in shares of SiTime by 1.9% in the fourth quarter. Arizona State Retirement System now owns 5,368 shares of the company's stock valued at $1,152,000 after purchasing an additional 99 shares during the last quarter. Institutional investors own 84.31% of the company's stock.

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SiTime Price Performance

NASDAQ:SITM traded up $1.01 during trading hours on Friday, reaching $178.26. 376,022 shares of the company were exchanged, compared to its average volume of 227,931. The company has a market capitalization of $4.21 billion, a P/E ratio of -44.01 and a beta of 1.85. The business has a 50 day moving average of $191.57 and a 200 day moving average of $193.29. SiTime Co. has a 1-year low of $72.39 and a 1-year high of $268.18.

Wall Street Analyst Weigh In

SITM has been the topic of several research analyst reports. Barclays increased their price target on shares of SiTime from $130.00 to $160.00 and gave the company an "underweight" rating in a report on Friday, January 17th. Needham & Company LLC lifted their price target on SiTime from $225.00 to $250.00 and gave the stock a "buy" rating in a report on Thursday, February 6th. Stifel Nicolaus upped their price objective on SiTime from $250.00 to $270.00 and gave the company a "buy" rating in a report on Thursday, February 6th. Finally, Raymond James reiterated an "outperform" rating and set a $250.00 price objective (up previously from $215.00) on shares of SiTime in a research report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $232.00.

Insider Activity at SiTime

In other SiTime news, insider Fariborz Assaderaghi sold 1,002 shares of the firm's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $220.94, for a total value of $221,381.88. Following the sale, the insider now owns 100,681 shares of the company's stock, valued at approximately $22,244,460.14. This trade represents a 0.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Piyush B. Sevalia sold 1,038 shares of the business's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $157.64, for a total value of $163,630.32. Following the transaction, the insider now directly owns 92,847 shares of the company's stock, valued at $14,636,401.08. This trade represents a 1.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,544 shares of company stock valued at $1,200,095 over the last quarter. 2.30% of the stock is owned by corporate insiders.

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.