SiTime Corporation (NASDAQ:SITM) Shares Purchased by Emerald Mutual Fund Advisers Trust

Emerald Mutual Fund Advisers Trust increased its holdings in shares of SiTime Corporation (NASDAQ:SITM - Free Report) by 26.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 48,461 shares of the company's stock after acquiring an additional 10,242 shares during the quarter. Emerald Mutual Fund Advisers Trust owned approximately 0.20% of SiTime worth $7,408,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of SiTime by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 2,468,348 shares of the company's stock valued at $529,535,000 after purchasing an additional 52,310 shares during the period. Invesco Ltd. increased its stake in shares of SiTime by 11.0% in the fourth 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 during the period. Ameriprise Financial Inc. increased its stake in shares of SiTime by 16.1% in the fourth quarter. Ameriprise Financial Inc. now owns 515,735 shares of the company's stock valued at $110,641,000 after purchasing an additional 71,658 shares during the period. Geode Capital Management LLC increased its stake in shares of SiTime by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 442,897 shares of the company's stock valued at $95,037,000 after purchasing an additional 1,975 shares during the period. Finally, Hood River Capital Management LLC increased its stake in shares of SiTime by 27.0% in the fourth quarter. Hood River Capital Management LLC now owns 421,960 shares of the company's stock valued at $90,523,000 after purchasing an additional 89,632 shares during the period. Institutional investors and hedge funds own 84.31% of the company's stock.

SiTime Price Performance

Shares of NASDAQ SITM traded down $1.39 during mid-day trading on Tuesday, reaching $204.38. 297,754 shares of the company traded hands, compared to its average volume of 265,966. SiTime Corporation has a fifty-two week low of $105.40 and a fifty-two week high of $268.18. The firm has a market cap of $4.85 billion, a PE ratio of -53.78 and a beta of 2.20. The stock has a fifty day simple moving average of $206.89 and a 200-day simple moving average of $188.30.

SiTime (NASDAQ:SITM - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.26 EPS for the quarter, beating analysts' consensus estimates of $0.11 by $0.15. SiTime had a negative net margin of 38.60% and a negative return on equity of 9.43%. The business had revenue of $60.31 million for the quarter, compared to analyst estimates of $54.01 million. During the same quarter last year, the business earned ($0.08) earnings per share. The business's revenue for the quarter was up 82.7% on a year-over-year basis. As a group, analysts predict that SiTime Corporation will post -2.44 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have commented on SITM. Barclays raised their price target on shares of SiTime from $135.00 to $180.00 and gave the company an "underweight" rating in a research note on Wednesday, June 11th. Stifel Nicolaus raised their price target on shares of SiTime from $180.00 to $210.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. One analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to MarketBeat.com, SiTime currently has a consensus rating of "Moderate Buy" and an average price target of $224.00.

Insider Buying and Selling at SiTime

In related news, CEO Rajesh Vashist sold 20,000 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $210.65, for a total transaction of $4,213,000.00. Following the completion of the sale, the chief executive officer directly owned 490,320 shares in the company, valued at approximately $103,285,908. This trade represents a 3.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Samsheer Ahamad sold 7,728 shares of SiTime stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $207.41, for a total transaction of $1,602,864.48. Following the completion of the transaction, the insider owned 78,095 shares in the company, valued at approximately $16,197,683.95. This trade represents a 9.00% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 63,818 shares of company stock valued at $13,171,258. 2.30% of the stock is currently owned by company insiders.

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.