Should You Consider Adding SiTime Corporation (SITM) to Your Portfolio?

Polen Capital, an investment management company, released its “Polen U.S. Small Company Growth Strategy” fourth-quarter investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund delivered 3.46% net of fees compared to a 4.13% return for the Russell 2000 Growth Index. Style factor headwinds and relative sector positioning offset the positive stock selection in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.

Polen Capital highlighted stocks like SiTime Corporation (NASDAQ:SITM) in the fourth quarter 2022 investor letter. Headquartered in Santa Clara, California, SiTime Corporation (NASDAQ:SITM) is a silicon timing systems provider. On January 24, 2023, SiTime Corporation (NASDAQ:SITM) stock closed at $118.99 per share. One-month return of SiTime Corporation (NASDAQ:SITM) was 22.37%, and its shares lost 40.41% of their value over the last 52 weeks. SiTime Corporation (NASDAQ:SITM) has a market capitalization of $2.551 billion.

Polen Capital made the following comment about SiTime Corporation (NASDAQ:SITM) in its Q4 2022 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 hightech applications and emerging industries—5G, self-driving, data centers, wearables, and the military/space market—require a higher degree of 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.”

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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 the third quarter, which was 23 in the previous quarter.

We discussed SiTime Corporation (NASDAQ:SITM) in another article and shared Wasatch Global Investors’ views on the company. In addition, please check out our hedge fund investor letters Q4 2022 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.