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

Teacher Retirement System of Texas bought a new position in SiTime Co. (NASDAQ:SITM) in the fourth quarter, HoldingsChannel reports. The fund bought 9,710 shares of the company’s stock, valued at approximately $2,083,000.

A number of other institutional investors also recently modified their holdings of the stock. Barclays PLC raised its holdings in shares of SiTime by 80.7% during the third quarter. Barclays PLC now owns 37,982 shares of the company’s stock worth $6,515,000 after acquiring an additional 16,964 shares in the last quarter. Smartleaf Asset Management LLC increased its position in SiTime by 278.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 280 shares of the company’s stock worth $60,000 after purchasing an additional 206 shares during the last quarter. Baader Bank Aktiengesellschaft acquired a new position in SiTime in the 4th quarter worth about $538,000. FMR LLC raised its stake in shares of SiTime by 1.1% during the 3rd quarter. FMR LLC now owns 3,469,843 shares of the company’s stock worth $595,113,000 after purchasing an additional 39,119 shares in the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in shares of SiTime during the 4th quarter valued at about $4,418,000. Institutional investors and hedge funds 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 firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $157.64, for a total value of $163,630.32. Following the sale, the insider now directly owns 92,847 shares of the company’s stock, valued at approximately $14,636,401.08. This trade represents a 1.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Lionel Bonnot sold 3,501 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $174.25, for a total value of $610,049.25. Following the transaction, the insider now directly owns 87,940 shares of the company’s stock, valued at $15,323,545. This represents a 3.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,544 shares of company stock worth $1,200,095 in the last quarter. 2.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on SITM. Stifel Nicolaus increased their price objective on SiTime from $250.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Raymond James restated an “outperform” rating and set a $250.00 price target (up previously from $215.00) on shares of SiTime in a report on Thursday, February 6th. Barclays upped their price objective on shares of SiTime from $130.00 to $160.00 and gave the stock an “underweight” rating in a report on Friday, January 17th. Finally, Needham & Company LLC raised their target price on SiTime from $225.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, SiTime has an average rating of “Moderate Buy” and an average target price of $232.00.

SiTime Trading Down 6.4 %

Shares of SiTime stock opened at $166.65 on Friday. The firm has a fifty day simple moving average of $185.99 and a 200-day simple moving average of $194.81. The stock has a market capitalization of $3.93 billion, a price-to-earnings ratio of -41.15 and a beta of 1.85. SiTime Co. has a 1-year low of $72.39 and a 1-year high of $268.18.

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.