Polar Capital Holdings Plc Has $7 Million Holdings in SiTime Co. (NASDAQ:SITM)

Polar Capital Holdings Plc lessened its stake in SiTime Co. (NASDAQ:SITM) by 47.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,631 shares of the company’s stock after selling 29,540 shares during the quarter. Polar Capital Holdings Plc owned about 0.14% of SiTime worth $7,000,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Mutual of America Capital Management LLC raised its stake in SiTime by 1.7% in the fourth quarter. Mutual of America Capital Management LLC now owns 2,866 shares of the company’s stock valued at $615,000 after purchasing an additional 48 shares in the last quarter. State of Alaska Department of Revenue raised its stake in 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 purchasing an additional 57 shares in the last quarter. Blue Trust Inc. raised its stake in 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 purchasing an additional 67 shares in the last quarter. Summit Investment Advisors Inc. raised its stake in SiTime by 4.5% during the fourth quarter. Summit Investment Advisors Inc. now owns 1,945 shares of the company’s stock worth $417,000 after acquiring an additional 83 shares in the last quarter. Finally, Arizona State Retirement System raised its stake in SiTime by 1.9% during the fourth 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 in the last quarter. Institutional investors and hedge funds own 84.31% of the company’s stock.

Analyst Upgrades and Downgrades

SITM has been the subject of several research analyst reports. Stifel Nicolaus boosted their target price on SiTime from $180.00 to $210.00 and gave the stock a “buy” rating in a research note on Thursday, May 8th. Raymond James reissued an “outperform” rating and set a $250.00 target price (up previously from $215.00) on shares of SiTime in a research note on Thursday, February 6th. Needham & Company LLC boosted 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. Finally, Barclays boosted their target price on SiTime from $110.00 to $135.00 and gave the stock an “underweight” rating in a research note on Thursday, May 8th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $215.00.

SiTime Trading Up 1.5%

SITM opened at $206.00 on Friday. The company’s fifty day moving average price is $157.02 and its two-hundred day moving average price is $190.14. SiTime Co. has a 1-year low of $105.40 and a 1-year high of $268.18. The company has a market cap of $4.89 billion, a price-to-earnings ratio of -50.86 and a beta of 2.24.

SiTime (NASDAQ:SITM) last announced its earnings results on Wednesday, May 7th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.15. SiTime had a negative return on equity of 10.12% and a negative net margin of 46.18%. The firm had revenue of $60.31 million during the quarter, compared to analyst estimates of $54.01 million. During the same period last year, the firm posted ($0.08) EPS. The business’s revenue was up 82.7% compared to the same quarter last year. As a group, equities analysts forecast that SiTime Co. will post -2.44 earnings per share for the current fiscal year.

Insider Transactions at SiTime

In other SiTime news, insider Fariborz Assaderaghi sold 1,268 shares of the firm’s stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $184.92, for a total value of $234,478.56. Following the completion of the transaction, the insider now owns 112,316 shares in the company, valued at $20,769,474.72. This trade represents a 1.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 completion of the transaction, the insider now owns 92,847 shares of the company’s stock, valued at approximately $14,636,401.08. This represents a 1.11% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,074 shares of company stock worth $1,195,421. 2.30% of the stock is owned by company insiders.

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.