Emerald Mutual Fund Advisers Trust Purchases New Position in SiTime Co. (NASDAQ:SITM)

Emerald Mutual Fund Advisers Trust acquired a new stake in SiTime Co. (NASDAQ:SITM - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 38,219 shares of the company's stock, valued at approximately $8,199,000. Emerald Mutual Fund Advisers Trust owned approximately 0.16% of SiTime at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in SITM. Invesco Ltd. boosted its holdings in SiTime by 11.0% in the 4th quarter. Invesco Ltd. now owns 983,175 shares of the company's stock valued at $210,921,000 after purchasing an additional 97,062 shares in the last quarter. Hood River Capital Management LLC boosted its stake in shares of SiTime by 27.0% during the 4th quarter. Hood River Capital Management LLC now owns 421,960 shares of the company's stock worth $90,523,000 after acquiring an additional 89,632 shares in the last quarter. Emerald Advisers LLC purchased a new stake in shares of SiTime during the 4th quarter worth approximately $18,673,000. Capital World Investors purchased a new stake in shares of SiTime during the 4th quarter worth approximately $17,654,000. Finally, Federated Hermes Inc. purchased a new stake in shares of SiTime during the 4th quarter worth approximately $15,446,000. Hedge funds and other institutional investors own 84.31% of the company's stock.

Insider Activity at SiTime

In related news, insider Fariborz Assaderaghi sold 1,267 shares of the stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $147.80, for a total value of $187,262.60. Following the transaction, the insider now directly owns 113,584 shares of the company's stock, valued at approximately $16,787,715.20. This trade represents a 1.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Piyush B. Sevalia sold 1,038 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $157.64, for a total value of $163,630.32. Following the completion of the transaction, the insider now directly owns 92,847 shares in the company, valued at $14,636,401.08. This trade represents a 1.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,809 shares of company stock valued at $1,165,975. 2.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on SITM shares. Needham & Company LLC boosted their price target on SiTime from $225.00 to $250.00 and gave the stock a "buy" rating in a research note on Thursday, February 6th. Barclays decreased their price target on SiTime from $180.00 to $110.00 and set an "underweight" rating on the stock in a research note on Tuesday, April 22nd. Stifel Nicolaus decreased their price target on SiTime from $270.00 to $180.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Finally, Raymond James reissued an "outperform" rating and set a $250.00 price target (up previously from $215.00) on shares of SiTime in a research note on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $204.00.

SiTime Stock Performance

SITM stock traded up $9.67 on Thursday, reaching $156.53. The company had a trading volume of 320,927 shares, compared to its average volume of 241,262. SiTime Co. has a 1 year low of $87.48 and a 1 year high of $268.18. The company's fifty day moving average is $152.65 and its 200 day moving average is $189.85. The company has a market cap of $3.71 billion, a P/E ratio of -38.65 and a beta of 1.98.

SiTime 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.