Investment management company Ave Maria recently released its “Ave Maria Growth Fund” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. At the end of the fourth quarter, the fund returned 10.91% compared to a 7.56% return for the S&P 500 Index. In the full year, the fund returned -21.23% compared to the index return of -18.11%. You can check the top 5 holdings of the fund to know its best picks in 2022.
Ave Maria Growth Fund highlighted stocks like SiTime Corporation (NASDAQ:SITM) in the Q4 2022 investor letter. Headquartered in Santa Clara, California, SiTime Corporation (NASDAQ:SITM) is a silicon timing systems provider. On April 3, 2023, SiTime Corporation (NASDAQ:SITM) stock closed at $138.10 per share. One-month return of SiTime Corporation (NASDAQ:SITM) was 6.90%, and its shares lost 38.15% of their value over the last 52 weeks. SiTime Corporation (NASDAQ:SITM) has a market capitalization of $3.082 billion.
Ave Maria Growth Fund made the following comment about SiTime Corporation (NASDAQ:SITM) in its 2022 fourth-quarter investor letter:
“SiTime Corporation (NASDAQ:SITM) is a semiconductor company focused specifically on silicon-based devices for the electronic measurement of time. Timing devices are responsible for synchronizing circuits and are a ubiquitous component of modern electronic devices. The industry has been dominated by quartz-based products for the last 70 years, but SiTime now offers a disruptive silicon alternative that’s capable of precision performance in some of the most demanding environments. We expect silicon-based timing devices to rapidly take market share from legacy quartz devices due to cost advantages, greater programmability, and higher reliability. SiTime is perfectly positioned to benefit from this new technology with approximately 90% market share of silicon-based timers.”
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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, 21 hedge fund portfolios held SiTime Corporation (NASDAQ:SITM) at the end of the fourth quarter which was 23 in the previous quarter.
We discussed SiTime Corporation (NASDAQ:SITM) in another article and shared the list of high growth semiconductor stocks that are profitable. 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.
