Counterpoint Mutual Funds LLC Makes New $449,000 Investment in SiTime Co. (NASDAQ:SITM)

Counterpoint Mutual Funds LLC purchased a new stake in SiTime Co. (NASDAQ:SITM) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 2,094 shares of the company’s stock, valued at approximately $449,000.

Other hedge funds also recently made changes to their positions in the company. Mutual of America Capital Management LLC boosted its stake in SiTime by 1.7% in the 4th quarter. Mutual of America Capital Management LLC now owns 2,866 shares of the company’s stock worth $615,000 after purchasing an additional 48 shares during the period. State of Alaska Department of Revenue boosted its position in shares of SiTime by 0.5% in the fourth quarter. State of Alaska Department of Revenue now owns 10,755 shares of the company’s stock valued at $2,307,000 after acquiring an additional 57 shares during the period. Blue Trust Inc. boosted its position in shares of SiTime by 44.7% in the fourth quarter. Blue Trust Inc. now owns 217 shares of the company’s stock valued at $47,000 after acquiring an additional 67 shares during the period. Thrivent Financial for Lutherans grew its stake in SiTime by 0.6% during the third quarter. Thrivent Financial for Lutherans now owns 14,714 shares of the company’s stock valued at $2,524,000 after acquiring an additional 94 shares in the last quarter. Finally, Arizona State Retirement System increased its holdings in SiTime by 1.9% during the 4th quarter. Arizona State Retirement System now owns 5,368 shares of the company’s stock worth $1,152,000 after acquiring an additional 99 shares during the period. 84.31% of the stock is currently owned by hedge funds and other institutional investors.

SiTime Trading Up 2.1 %

SITM opened at $170.46 on Tuesday. The stock has a market capitalization of $4.02 billion, a P/E ratio of -42.09 and a beta of 1.85. The stock has a 50-day moving average price of $194.80 and a 200-day moving average price of $193.26. SiTime Co. has a 12-month low of $72.39 and a 12-month high of $268.18.

Insiders Place Their Bets

In related news, insider Lionel Bonnot sold 3,501 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $174.25, for a total transaction of $610,049.25. Following the transaction, the insider now directly owns 87,940 shares in the company, valued at $15,323,545. This trade represents a 3.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Fariborz Assaderaghi sold 1,002 shares of SiTime stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $220.94, for a total value of $221,381.88. Following the completion of the transaction, the insider now directly owns 100,681 shares in the company, valued at $22,244,460.14. This trade represents a 0.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,544 shares of company stock valued at $1,200,095 over the last quarter. 2.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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