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

Polymer Capital Management HK LTD boosted its holdings in shares of SiTime Co. (NASDAQ:SITM - Free Report) by 434.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 34,386 shares of the company's stock after buying an additional 27,948 shares during the quarter. SiTime comprises 1.3% of Polymer Capital Management HK LTD's portfolio, making the stock its 22nd biggest holding. Polymer Capital Management HK LTD owned 0.15% of SiTime worth $7,377,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of SITM. HighTower Advisors LLC increased its holdings in shares of SiTime by 16.4% during the 3rd quarter. HighTower Advisors LLC now owns 12,388 shares of the company's stock valued at $2,137,000 after acquiring an additional 1,748 shares during the last quarter. State Street Corp boosted its position in SiTime by 3.1% during the third quarter. State Street Corp now owns 922,974 shares of the company's stock worth $158,299,000 after purchasing an additional 27,692 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in SiTime during the third quarter valued at approximately $588,000. Public Employees Retirement System of Ohio raised its position in shares of SiTime by 6.1% in the third quarter. Public Employees Retirement System of Ohio now owns 17,960 shares of the company's stock valued at $3,080,000 after purchasing an additional 1,039 shares during the period. Finally, Barclays PLC lifted its stake in shares of SiTime by 80.7% in the third quarter. Barclays PLC now owns 37,982 shares of the company's stock worth $6,515,000 after buying an additional 16,964 shares during the last quarter. 84.31% of the stock is currently owned by institutional investors.

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Analyst Upgrades and Downgrades

A number of research firms recently issued reports on SITM. Raymond James reiterated an "outperform" rating and issued a $250.00 target price (up from $215.00) on shares of SiTime in a research note on Thursday, February 6th. Needham & Company LLC lifted their price objective on SiTime from $225.00 to $250.00 and gave the stock a "buy" rating in a research note on Thursday, February 6th. Stifel Nicolaus boosted their price objective on SiTime from $250.00 to $270.00 and gave the stock a "buy" rating in a research report on Thursday, February 6th. Finally, Barclays raised their target price on SiTime from $130.00 to $160.00 and gave the company an "underweight" rating in a report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, SiTime currently has a consensus rating of "Moderate Buy" and a consensus target price of $232.00.

Insider Buying and Selling at SiTime

In other SiTime news, insider Lionel Bonnot sold 3,501 shares of the business's stock in a transaction 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 sale, the insider now owns 87,940 shares of the company's stock, valued at $15,323,545. The trade was a 3.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Piyush B. Sevalia sold 1,038 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $157.64, for a total transaction of $163,630.32. Following the completion of the transaction, the insider now owns 92,847 shares of the company's stock, valued at approximately $14,636,401.08. This represents a 1.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,542 shares of company stock valued at $978,713 in the last quarter. Corporate insiders own 2.30% of the company's stock.

SiTime Price Performance

Shares of NASDAQ SITM traded down $1.92 during mid-day trading on Friday, hitting $128.13. The company had a trading volume of 151,199 shares, compared to its average volume of 239,025. SiTime Co. has a 12 month low of $72.39 and a 12 month high of $268.18. The firm has a market cap of $3.02 billion, a P/E ratio of -31.34 and a beta of 1.98. The business's 50-day simple moving average is $164.88 and its 200-day simple moving average is $193.67.

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.