Illinois Municipal Retirement Fund Trims Stock Position in SiTime Co. (NASDAQ:SITM)

Illinois Municipal Retirement Fund decreased its holdings in SiTime Co. (NASDAQ:SITM) by 12.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 8,115 shares of the company’s stock after selling 1,170 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in SiTime were worth $1,741,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in SITM. LMR Partners LLP increased its position in SiTime by 705.0% in the third quarter. LMR Partners LLP now owns 80,500 shares of the company’s stock worth $13,807,000 after buying an additional 70,500 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of SiTime by 15.4% during the 3rd quarter. Principal Financial Group Inc. now owns 448,930 shares of the company’s stock valued at $76,996,000 after buying an additional 59,931 shares in the last quarter. FMR LLC grew 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 valued at $595,113,000 after acquiring an additional 39,119 shares during the period. Peregrine Investment Management Inc. purchased a new stake in SiTime in the 4th quarter worth approximately $7,779,000. Finally, State Street Corp raised its stake in SiTime by 3.1% during the 3rd quarter. State Street Corp now owns 922,974 shares of the company’s stock worth $158,299,000 after acquiring an additional 27,692 shares during the period. 84.31% of the stock is currently owned by institutional investors.

Insider Transactions at SiTime

In other SiTime news, insider Lionel Bonnot sold 3,501 shares of SiTime stock in a transaction on Monday, February 24th. The shares were sold at an average price of $174.25, for a total value of $610,049.25. Following the completion of the transaction, the insider now directly owns 87,940 shares of the company’s stock, valued at $15,323,545. This trade represents a 3.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Fariborz Assaderaghi sold 1,002 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $216.85, for a total transaction of $217,283.70. Following the sale, the insider now owns 102,683 shares in the company, valued at $22,266,808.55. This represents a 0.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,072 shares of company stock valued at $5,527,988. 2.30% of the stock is currently owned by insiders.

SiTime Stock Performance

Shares of NASDAQ SITM opened at $155.15 on Friday. The firm’s fifty day moving average is $207.80 and its two-hundred day moving average is $190.63. SiTime Co. has a 52-week low of $72.39 and a 52-week high of $268.18. The company has a market cap of $3.66 billion, a P/E ratio of -38.31 and a beta of 1.80.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SITM. Needham & Company LLC upped their price target on shares of SiTime from $225.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Raymond James reaffirmed an “outperform” rating and issued a $250.00 target price (up previously from $215.00) on shares of SiTime in a report on Thursday, February 6th. Barclays increased their price target on SiTime from $130.00 to $160.00 and gave the stock an “underweight” rating in a research note on Friday, January 17th. Stifel Nicolaus boosted their price objective on SiTime from $250.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Finally, Roth Mkm increased their target price on SiTime from $205.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $232.00.

SiTime Company 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.