What Makes SiTime Corporation (SITM) an Attractive Investment?
Polen Capital, an investment management company, released its “Polen U.S. SMID Company Growth Strategy” second-quarter 2023 investor letter. A copy of the same can be downloaded here. The portfolio returned 5.94% gross and 5.82% net of fees in the second quarter compared to a 6.42% return for the Russell 2500 Growth Index. The quarter showed an illustration of how rapidly market sentiment can shift. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Polen U.S. SMID Company Growth Strategy highlighted stocks like SiTime Corporation (NASDAQ:SITM) in the second quarter 2023 investor letter. Headquartered in Santa Clara, California, SiTime Corporation (NASDAQ:SITM) is a silicon timing systems solutions provider. On August 11, 2023, SiTime Corporation (NASDAQ:SITM) stock closed at $133.00 per share. One-month return of SiTime Corporation (NASDAQ:SITM) was 2.63%, and its shares lost 0.71% of their value over the last 52 weeks. SiTime Corporation (NASDAQ:SITM) has a market capitalization of $2.92 billion.
Polen U.S. SMID Company Growth Strategy made the following comment about SiTime Corporation (NASDAQ:SITM) in its second quarter 2023 investor letter:
"SiTime Corporation (NASDAQ:SITM) makes silicon microelectromechanical systems (“MEMS”) solutions that enable precision timing in various electronic devices. The company’s products are increasingly important as new high-tech applications and emerging industries—5G, self-driving, data centers, wearables, and the military/space market—require higher precision in timing devices and materials vs. the historical standard, quartz. As the category creator with a dominant (85%+) market share, SiTime stands well positioned to benefit as they take share from the legacy quartz timing solution, and the addressable market for their solutions continues to grow."
SiTime Corporation (NASDAQ:SITM) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 23 hedge fund portfolios held SiTime Corporation (NASDAQ:SITM) at the end of first quarter which was 21 in the previous quarter.
We discussed SiTime Corporation (NASDAQ:SITM) in another article and shared Baron Discovery Fund’s views on the company. In addition, please check out our hedge fund investor letters Q2 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
