Teacher Retirement System of Texas Makes New Investment in SiTime Co. (NASDAQ:SITM)

Teacher Retirement System of Texas acquired a new stake in SiTime Co. (NASDAQ:SITM) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 9,710 shares of the company’s stock, valued at approximately $2,083,000.

A number of other hedge funds have also made changes to their positions in the stock. Barclays PLC lifted its position in SiTime by 80.7% in the third quarter. Barclays PLC now owns 37,982 shares of the company’s stock worth $6,515,000 after purchasing an additional 16,964 shares during the period. Smartleaf Asset Management LLC raised its stake in shares of 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 buying an additional 206 shares in the last quarter. Baader Bank Aktiengesellschaft acquired a new stake in shares of SiTime in the fourth quarter valued at $538,000. FMR LLC boosted its stake in SiTime by 1.1% during the third quarter. FMR LLC now owns 3,469,843 shares of the company’s stock valued at $595,113,000 after buying an additional 39,119 shares in the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in SiTime during the fourth quarter worth about $4,418,000. Institutional investors and hedge funds own 84.31% of the company’s stock.

SiTime Trading Down 6.4 %

SITM stock opened at $166.65 on Friday. SiTime Co. has a one year low of $72.39 and a one year high of $268.18. The firm has a 50-day moving average of $185.99 and a two-hundred day moving average of $194.81. The firm has a market capitalization of $3.93 billion, a PE ratio of -41.15 and a beta of 1.85.

Insider Activity

In other news, insider Lionel Bonnot sold 3,501 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $174.25, for a total value of $610,049.25. Following the completion of the sale, the insider now owns 87,940 shares of the company’s stock, valued at $15,323,545. This trade represents a 3.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Piyush B. Sevalia sold 1,038 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were 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 in the company, valued at $14,636,401.08. The trade was a 1.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,544 shares of company stock worth $1,200,095 over the last 90 days. 2.30% of the stock is owned by company insiders.

Analyst Ratings Changes

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

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.