Polymer Capital Management HK LTD Has $7.38 Million Stake in SiTime Co. (NASDAQ:SITM)

Polymer Capital Management HK LTD increased its position in SiTime Co. (NASDAQ:SITM) by 434.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,386 shares of the company’s stock after buying an additional 27,948 shares during the period. SiTime accounts for approximately 1.3% of Polymer Capital Management HK LTD’s investment portfolio, making the stock its 22nd biggest holding. Polymer Capital Management HK LTD owned about 0.15% of SiTime worth $7,377,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of SITM. Barclays PLC increased its position in shares of SiTime by 80.7% during the third quarter. Barclays PLC now owns 37,982 shares of the company’s stock valued at $6,515,000 after acquiring an additional 16,964 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in SiTime by 278.4% in 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. Baader Bank Aktiengesellschaft purchased a new stake in shares of SiTime in the 4th quarter valued at about $538,000. Proficio Capital Partners LLC bought a new position in shares of SiTime in the 4th quarter worth $4,418,000. Finally, Sanctuary Advisors LLC purchased a new stake in SiTime during the third quarter valued at about $166,000. 84.31% of the stock is owned by institutional investors and hedge funds.

SiTime Price Performance

Shares of SITM stock opened at $119.23 on Friday. SiTime Co. has a one year low of $72.39 and a one year high of $268.18. The company has a market capitalization of $2.81 billion, a P/E ratio of -29.44 and a beta of 1.98. The company’s 50-day simple moving average is $172.95 and its two-hundred day simple moving average is $195.24.

Insider Buying and Selling at SiTime

In other news, insider Fariborz Assaderaghi sold 1,003 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $204.42, for a total transaction of $205,033.26. Following the sale, the insider now owns 99,678 shares of the company’s stock, valued at $20,376,176.76. This trade represents a 1.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Lionel Bonnot sold 3,501 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $174.25, for a total value of $610,049.25. Following the transaction, the insider now owns 87,940 shares in the company, valued at $15,323,545. This trade represents a 3.83 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,542 shares of company stock valued at $978,713. 2.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SITM. Raymond James restated an “outperform” rating and issued a $250.00 target price (up previously from $215.00) on shares of SiTime in a report on Thursday, February 6th. Stifel Nicolaus raised their target price on SiTime from $250.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Needham & Company LLC upped their price objective on shares of SiTime from $225.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Finally, Barclays increased their target price on SiTime from $130.00 to $160.00 and gave the stock an “underweight” rating in a research note on Friday, January 17th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $232.00.

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.