Polar Asset Management Partners Inc. Sells 26,400 Shares of SiTime Co. (NASDAQ:SITM)

Polar Asset Management Partners Inc. reduced its stake in SiTime Co. (NASDAQ:SITM) by 38.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,500 shares of the company’s stock after selling 26,400 shares during the period. Polar Asset Management Partners Inc. owned 0.18% of SiTime worth $7,289,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Signaturefd LLC grew its stake in SiTime by 67.4% during the third quarter. Signaturefd LLC now owns 149 shares of the company’s stock valued at $26,000 after acquiring an additional 60 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of SiTime by 59.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 236 shares of the company’s stock worth $29,000 after purchasing an additional 88 shares during the period. GAMMA Investing LLC boosted its stake in shares of SiTime by 281.0% during the 2nd quarter. GAMMA Investing LLC now owns 381 shares of the company’s stock worth $47,000 after purchasing an additional 281 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new stake in SiTime during the 2nd quarter valued at about $49,000. Finally, Van ECK Associates Corp bought a new stake in SiTime during the 3rd quarter valued at about $123,000. Hedge funds and other institutional investors own 84.31% of the company’s stock.

SiTime Stock Up 1.0 %

Shares of NASDAQ:SITM opened at $219.28 on Wednesday. SiTime Co. has a 52-week low of $72.39 and a 52-week high of $228.12. The company has a 50 day moving average of $190.15 and a two-hundred day moving average of $154.55. The company has a market capitalization of $5.12 billion, a price-to-earnings ratio of -52.97 and a beta of 1.86.

SiTime (NASDAQ:SITM) last released its earnings results on Wednesday, November 6th. The company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.14. SiTime had a negative return on equity of 9.89% and a negative net margin of 53.55%. The firm had revenue of $57.70 million for the quarter, compared to analyst estimates of $55.10 million. During the same period in the previous year, the company earned ($0.81) earnings per share. SiTime’s revenue was up 62.4% compared to the same quarter last year. On average, equities analysts anticipate that SiTime Co. will post -2.98 earnings per share for the current year.

Insiders Place Their Bets

In other SiTime news, insider Piyush B. Sevalia sold 807 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $160.00, for a total value of $129,120.00. Following the completion of the transaction, the insider now directly owns 87,534 shares in the company, valued at $14,005,440. This trade represents a 0.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Fariborz Assaderaghi sold 1,003 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $140.00, for a total value of $140,420.00. Following the completion of the transaction, the insider now owns 111,581 shares of the company’s stock, valued at approximately $15,621,340. This represents a 0.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,514 shares of company stock valued at $6,382,144 in the last three months. Company insiders own 2.30% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Needham & Company LLC boosted their price target on shares of SiTime from $140.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Stifel Nicolaus boosted their target price on shares of SiTime from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Roth Mkm increased their price objective on shares of SiTime from $205.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, Barclays increased their price objective on shares of SiTime from $90.00 to $130.00 and gave the stock an “underweight” rating in a research note on Friday, November 8th.

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.