Strs Ohio Decreases Stock Holdings in SiTime Co. (NASDAQ:SITM)

Strs Ohio trimmed its holdings in SiTime Co. (NASDAQ:SITM) by 63.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,200 shares of the company’s stock after selling 2,100 shares during the quarter. Strs Ohio’s holdings in SiTime were worth $146,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Amalgamated Bank lifted its stake in SiTime by 1.5% in the 3rd quarter. Amalgamated Bank now owns 7,606 shares of the company’s stock worth $869,000 after purchasing an additional 113 shares in the last quarter. Arizona State Retirement System raised its position in shares of SiTime by 2.5% during the 3rd quarter. Arizona State Retirement System now owns 4,687 shares of the company’s stock valued at $535,000 after buying an additional 115 shares during the period. Oppenheimer Asset Management Inc. raised its position in shares of SiTime by 2.9% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 4,287 shares of the company’s stock valued at $490,000 after buying an additional 120 shares during the period. Pathstone Family Office LLC raised its position in shares of SiTime by 5.9% during the 3rd quarter. Pathstone Family Office LLC now owns 2,410 shares of the company’s stock valued at $275,000 after buying an additional 135 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of SiTime by 18.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,483 shares of the company’s stock valued at $398,000 after buying an additional 537 shares during the period. 84.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SITM. Stifel Nicolaus lifted their price target on shares of SiTime from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, January 2nd. Barclays lifted their price target on shares of SiTime from $110.00 to $130.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 16th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $142.00.

SiTime Stock Performance

SiTime stock opened at $89.12 on Wednesday. SiTime Co. has a fifty-two week low of $72.39 and a fifty-two week high of $141.99. The firm has a 50 day moving average price of $88.42 and a 200 day moving average price of $104.94. The company has a market capitalization of $2.04 billion, a PE ratio of -24.55 and a beta of 1.78.

SiTime (NASDAQ:SITM) last posted its earnings results on Tuesday, February 13th. The company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.53) by ($0.01). SiTime had a negative net margin of 55.93% and a negative return on equity of 10.21%. The company had revenue of $42.40 million during the quarter, compared to analyst estimates of $41.65 million. As a group, equities research analysts forecast that SiTime Co. will post -2.3 earnings per share for the current year.

Insiders Place Their Bets

In other SiTime news, insider Fariborz Assaderaghi sold 1,288 shares of the business’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $84.25, for a total value of $108,514.00. Following the completion of the transaction, the insider now owns 110,203 shares in the company, valued at $9,284,602.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders sold a total of 3,602 shares of company stock worth $319,899 over the last 90 days. Corporate insiders own 2.30% of the company’s stock.

About SiTime

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.