Polar Asset Management Partners Inc. Decreases Stock Position in SiTime Co. (NASDAQ:SITM)

Polar Asset Management Partners Inc. lessened its holdings in SiTime Co. (NASDAQ:SITM - Free Report) by 48.2% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 22,000 shares of the company's stock after selling 20,500 shares during the period. Polar Asset Management Partners Inc. owned 0.09% of SiTime worth $4,720,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Blue Trust Inc. raised 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 worth $47,000 after buying an additional 67 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in shares of SiTime in the fourth quarter worth $58,000. Smartleaf Asset Management LLC raised its position in shares of SiTime by 278.4% in the fourth 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. Lazard Asset Management LLC purchased a new stake in shares of SiTime in the fourth quarter worth $81,000. Finally, AlphaQuest LLC raised its position in shares of SiTime by 8,460.0% in the fourth quarter. AlphaQuest LLC now owns 428 shares of the company's stock worth $92,000 after buying an additional 423 shares in the last quarter. Hedge funds and other institutional investors own 84.31% of the company's stock.

Insider Buying and Selling at SiTime

In related news, insider Piyush B. Sevalia sold 1,038 shares of the business's stock in a transaction that occurred 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 completion of 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Rajesh Vashist sold 20,000 shares of the business's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $210.65, for a total transaction of $4,213,000.00. Following the completion of the transaction, the chief executive officer now owns 490,320 shares of the company's stock, valued at approximately $103,285,908. The trade was a 3.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,074 shares of company stock valued at $5,408,421. 2.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Barclays increased their price objective on SiTime from $110.00 to $135.00 and gave the stock an "underweight" rating in a research report on Thursday, May 8th. Needham & Company LLC raised their price target on SiTime from $225.00 to $250.00 and gave the company a "buy" rating in a research report on Thursday, February 6th. Raymond James reaffirmed 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. Finally, Stifel Nicolaus raised 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. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $215.00.

SiTime Trading Up 0.2%

SiTime stock traded up $0.42 during trading hours on Wednesday, hitting $206.96. 61,654 shares of the stock traded hands, compared to its average volume of 244,359. The firm's 50-day moving average price is $159.86 and its two-hundred day moving average price is $190.87. The company has a market cap of $4.91 billion, a PE ratio of -51.16 and a beta of 2.24. SiTime Co. has a one year low of $105.40 and a one year high of $268.18.

SiTime (NASDAQ:SITM - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.15. The business had revenue of $60.31 million for the quarter, compared to analysts' expectations 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 revenue was up 82.7% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.08) EPS. On average, sell-side analysts expect that SiTime Co. will post -2.44 earnings per share for the current fiscal year.

About SiTime

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.