9,710 Shares in SiTime Co. (NASDAQ:SITM) Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas purchased a new position in shares of SiTime Co. (NASDAQ:SITM - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 9,710 shares of the company's stock, valued at approximately $2,083,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its stake in shares of SiTime by 44.7% in 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 last quarter. Smartleaf Asset Management LLC lifted its position in SiTime by 278.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 280 shares of the company's stock valued at $60,000 after purchasing an additional 206 shares during the last quarter. AlphaQuest LLC lifted its position in SiTime by 8,460.0% in the fourth quarter. AlphaQuest LLC now owns 428 shares of the company's stock valued at $92,000 after purchasing an additional 423 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in shares of SiTime during the fourth quarter valued at approximately $130,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of SiTime in the fourth quarter worth approximately $140,000. Institutional investors own 84.31% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Barclays upped 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. Stifel Nicolaus upped their price target on SiTime from $250.00 to $270.00 and gave the company a "buy" rating in a research report on Thursday, February 6th. Needham & Company LLC lifted their price objective on SiTime from $225.00 to $250.00 and gave the stock a "buy" rating in a research report on Thursday, February 6th. Finally, Raymond James reissued an "outperform" rating and set a $250.00 target price (up from $215.00) on shares of SiTime in a research note on Thursday, February 6th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, SiTime presently has a consensus rating of "Moderate Buy" and an average price target of $232.00.

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Insider Activity

In related news, insider Fariborz Assaderaghi sold 1,002 shares of the business's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $220.94, for a total transaction of $221,381.88. Following the sale, the insider now owns 100,681 shares of the company's stock, valued at $22,244,460.14. The trade was a 0.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Piyush B. Sevalia sold 1,038 shares of the business's stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 92,847 shares in the company, valued at approximately $14,636,401.08. This represents a 1.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,544 shares of company stock worth $1,200,095 in the last quarter. 2.30% of the stock is owned by company insiders.

SiTime Price Performance

SITM stock traded up $0.46 during trading on Monday, reaching $152.87. The company had a trading volume of 357,769 shares, compared to its average volume of 233,374. The business has a 50 day moving average of $182.06 and a 200 day moving average of $195.83. The company has a market cap of $3.61 billion, a P/E ratio of -37.75 and a beta of 1.85. SiTime Co. has a 52 week low of $72.39 and a 52 week high of $268.18.

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.