SiTime Co. (NASDAQ:SITM) Shares Sold by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. reduced its position in shares of SiTime Co. (NASDAQ:SITM - Free Report) by 48.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,000 shares of the company's stock after selling 20,500 shares during the quarter. Polar Asset Management Partners Inc. owned about 0.09% of SiTime worth $4,720,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Fourth Dimension Wealth LLC bought a new position in shares of SiTime during the 4th quarter worth $25,000. Blue Trust Inc. lifted its stake in SiTime by 44.7% in the fourth quarter. Blue Trust Inc. now owns 217 shares of the company's stock worth $47,000 after acquiring an additional 67 shares during the period. Aster Capital Management DIFC Ltd bought a new position in SiTime during the 4th quarter worth about $58,000. Smartleaf Asset Management LLC increased its position in SiTime by 278.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 280 shares of the company's stock valued at $60,000 after purchasing an additional 206 shares during the period. Finally, Lazard Asset Management LLC purchased a new position in SiTime during the 4th quarter valued at about $81,000. 84.31% of the stock is owned by institutional investors.

SiTime Stock Down 0.3%

Shares of NASDAQ SITM traded down $0.58 during trading hours on Thursday, hitting $197.08. 113,843 shares of the stock were exchanged, compared to its average volume of 245,202. SiTime Co. has a 12 month low of $105.40 and a 12 month high of $268.18. The firm has a fifty day moving average price of $162.78 and a 200-day moving average price of $190.99. The company has a market cap of $4.68 billion, a PE ratio of -48.66 and a beta of 2.24.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Barclays increased their price objective on shares of SiTime from $110.00 to $135.00 and gave the company an "underweight" rating in a research note on Thursday, May 8th. Needham & Company LLC increased their target price on SiTime from $225.00 to $250.00 and gave the company a "buy" rating in a research report on Thursday, February 6th. Stifel Nicolaus lifted their price target on SiTime from $180.00 to $210.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Finally, Raymond James restated an "outperform" rating and set a $250.00 price objective (up from $215.00) on shares of SiTime in a research note on Thursday, February 6th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $215.00.

Insider Activity at SiTime

In related news, insider Piyush B. Sevalia sold 1,038 shares of the company's stock in a transaction on Monday, March 3rd. The stock was 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 of the company's stock, valued at $14,636,401.08. This represents a 1.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Fariborz Assaderaghi sold 1,267 shares of the firm's stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $147.80, for a total value of $187,262.60. Following the completion of the transaction, the insider now owns 113,584 shares of the company's stock, valued at $16,787,715.20. This trade represents a 1.10% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 46,495 shares of company stock valued at $9,500,531 in the last ninety days. Corporate insiders own 2.10% of the company's stock.

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.