Mutual of America Capital Management LLC Sells 658 Shares of SiTime Co. (NASDAQ:SITM)

Mutual of America Capital Management LLC cut its holdings in SiTime Co. (NASDAQ:SITMGet Rating) by 4.8% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 13,008 shares of the company’s stock after selling 658 shares during the period. Mutual of America Capital Management LLC’s holdings in SiTime were worth $2,121,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mackenzie Financial Corp raised its stake in SiTime by 8.1% during the 1st quarter. Mackenzie Financial Corp now owns 811 shares of the company’s stock valued at $201,000 after buying an additional 61 shares during the last quarter. State of Alaska Department of Revenue raised its stake in SiTime by 4.4% during the 2nd quarter. State of Alaska Department of Revenue now owns 2,235 shares of the company’s stock valued at $364,000 after buying an additional 95 shares during the last quarter. Yousif Capital Management LLC raised its stake in SiTime by 1.2% during the 1st quarter. Yousif Capital Management LLC now owns 8,091 shares of the company’s stock valued at $2,005,000 after buying an additional 98 shares during the last quarter. Northwestern Mutual Investment Management Company LLC raised its stake in SiTime by 4.7% during the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 2,607 shares of the company’s stock valued at $425,000 after buying an additional 118 shares during the last quarter. Finally, Meeder Asset Management Inc. purchased a new stake in SiTime during the 1st quarter valued at $41,000. 72.84% of the stock is owned by institutional investors.

SiTime Stock Performance

Shares of SITM stock opened at $101.53 on Thursday. SiTime Co. has a 52-week low of $73.10 and a 52-week high of $341.77. The firm has a market capitalization of $2.18 billion, a PE ratio of 50.77, a PEG ratio of 6.59 and a beta of 1.90. The stock has a fifty day simple moving average of $87.95 and a two-hundred day simple moving average of $134.79.

Analysts Set New Price Targets

SITM has been the subject of a number of research reports. TheStreet upgraded shares of SiTime from a “d+” rating to a “c” rating in a research note on Monday. Raymond James reduced their price objective on SiTime from $240.00 to $120.00 and set an “outperform” rating for the company in a research note on Thursday, November 3rd. Needham & Company LLC reduced their price objective on SiTime from $125.00 to $115.00 and set a “buy” rating for the company in a research note on Thursday, November 3rd. Credit Suisse Group started coverage on SiTime in a research note on Tuesday, November 15th. They issued an “outperform” rating and a $135.00 price objective for the company. Finally, Barclays cut their price target on SiTime from $130.00 to $96.00 and set an “overweight” rating for the company in a research note on Thursday, November 3rd. Four investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, SiTime presently has an average rating of “Buy” and an average target price of $116.50.

Insiders Place Their Bets

In other SiTime news, insider Fariborz Assaderaghi sold 468 shares of the stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $113.00, for a total transaction of $52,884.00. Following the completion of the transaction, the insider now owns 116,685 shares of the company’s stock, valued at approximately $13,185,405. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Fariborz Assaderaghi sold 468 shares of the stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $113.00, for a total value of $52,884.00. Following the completion of the transaction, the insider now owns 116,685 shares of the company’s stock, valued at approximately $13,185,405. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Katherine Schuelke sold 3,000 shares of the stock in a transaction dated Monday, November 21st. The shares were sold at an average price of $98.89, for a total transaction of $296,670.00. Following the completion of the transaction, the director now directly owns 17,916 shares of the company’s stock, valued at approximately $1,771,713.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,026 shares of company stock worth $500,167. Corporate insiders own 1.16% of the company’s stock.

SiTime Profile

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SiTime Corporation designs, develops, and sells silicon timing systems solutions in Taiwan, Hong Kong, the United States, and internationally. The company provides resonators and clock integrated circuits, and various types of oscillators. Its solutions have applications in various markets, including communications and enterprise, automotive, industrial, Internet of Things, mobile, consumer, and aerospace and defense.

Further Reading

Want to see what other hedge funds are holding SITM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SiTime Co. (NASDAQ:SITMGet Rating).

Institutional Ownership by Quarter for SiTime (NASDAQ:SITM)

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