Polar Capital Holdings Plc Trims Holdings in SiTime Co. (NASDAQ:SITM)

Polar Capital Holdings Plc trimmed its position in SiTime Co. (NASDAQ:SITM - Free Report) by 47.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and 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 approximately 0.14% of SiTime worth $7,000,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of SITM. Blue Trust Inc. increased its holdings in 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 period. Aster Capital Management DIFC Ltd bought a new position in shares of SiTime in the fourth quarter worth $58,000. Smartleaf Asset Management LLC increased its holdings 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 purchasing an additional 206 shares during the period. Lazard Asset Management LLC purchased a new stake in shares of SiTime in the fourth quarter worth $81,000. Finally, AlphaQuest LLC grew its position in SiTime by 8,460.0% during 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. 84.31% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

SITM has been the topic of several recent analyst reports. Stifel Nicolaus raised 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. Needham & Company LLC raised their target price on shares of SiTime from $225.00 to $250.00 and gave the company a "buy" rating in a research note on Thursday, February 6th. Raymond James reiterated 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. Finally, Barclays raised their price objective on shares of SiTime from $110.00 to $135.00 and gave the company an "underweight" rating in a research report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $215.00.

SiTime Stock Down 2.3%

Shares of NASDAQ SITM traded down $4.77 during trading hours on Monday, reaching $205.90. 213,754 shares of the stock traded hands, compared to its average volume of 245,013. The company has a market capitalization of $4.88 billion, a P/E ratio of -50.84 and a beta of 2.24. The company's 50-day simple moving average is $158.11 and its two-hundred day simple moving average is $190.51. SiTime Co. has a 52-week low of $105.40 and a 52-week high of $268.18.

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

Insider Buying and Selling at SiTime

In other news, CEO Rajesh Vashist sold 20,000 shares of the business's stock in a transaction dated 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 completion of the sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Lionel Bonnot sold 3,501 shares of SiTime stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $174.25, for a total value of $610,049.25. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,074 shares of company stock worth $5,408,421 over the last three months. Company insiders own 2.10% of the company's stock.

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.