Polar Capital Holdings Plc reduced its holdings in shares of SiTime Co. (NASDAQ:SITM - Free Report) by 47.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 32,631 shares of the company's stock after selling 29,540 shares during the period. Polar Capital Holdings Plc owned about 0.14% of SiTime worth $7,000,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of SITM. Blue Trust Inc. lifted its stake in shares of SiTime by 44.7% during the 4th quarter. Blue Trust Inc. now owns 217 shares of the company's stock worth $47,000 after acquiring an additional 67 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new stake in SiTime during the 4th quarter valued at $58,000. Smartleaf Asset Management LLC raised 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 in the last quarter. Lazard Asset Management LLC bought a new stake in SiTime during the 4th quarter valued at $81,000. Finally, AlphaQuest LLC raised its position in SiTime by 8,460.0% during the 4th quarter. AlphaQuest LLC now owns 428 shares of the company's stock valued at $92,000 after purchasing an additional 423 shares in the last quarter. 84.31% of the stock is owned by institutional investors.
SiTime Trading Up 0.2%
Shares of SITM traded up $0.42 during trading hours on Wednesday, hitting $206.96. The company had a trading volume of 61,654 shares, compared to its average volume of 244,359. SiTime Co. has a one year low of $105.40 and a one year high of $268.18. The company's fifty day moving average price is $159.86 and its two-hundred day moving average price is $190.87. The company has a market capitalization of $4.91 billion, a PE ratio of -51.16 and a beta of 2.24.
SiTime (NASDAQ:SITM - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.26 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $54.01 million. During the same period in the previous year, the business earned ($0.08) EPS. The firm's revenue for the quarter was up 82.7% on a year-over-year basis. Analysts forecast that SiTime Co. will post -2.44 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on SITM. Raymond James reaffirmed an "outperform" rating and set a $250.00 target price (up from $215.00) on shares of SiTime in a research report on Thursday, February 6th. Barclays lifted their target price on SiTime from $110.00 to $135.00 and gave the company an "underweight" rating in a research report on Thursday, May 8th. Stifel Nicolaus lifted their target price on SiTime from $180.00 to $210.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Finally, Needham & Company LLC boosted their price target on SiTime from $225.00 to $250.00 and gave the stock a "buy" rating in a research report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $215.00.
Get Our Latest Analysis on SITM
Insider Buying and Selling
In related news, insider Fariborz Assaderaghi sold 1,267 shares of the business's stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $147.80, for a total transaction of $187,262.60. Following the transaction, the insider now directly owns 113,584 shares in the company, valued at $16,787,715.20. The trade was a 1.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Rajesh Vashist sold 20,000 shares of the business's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $210.65, for a total value of $4,213,000.00. Following the transaction, the chief executive officer now owns 490,320 shares in the company, valued at approximately $103,285,908. This trade represents a 3.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,074 shares of company stock worth $5,408,421 in the last ninety days. 2.10% of the stock is owned by insiders.
About SiTime
(
Free Report)
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.
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