Emerald Mutual Fund Advisers Trust Acquires 10,242 Shares of SiTime Corporation (NASDAQ:SITM)

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

Other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC increased its stake in shares of SiTime by 27,559.1% in the 1st quarter. GAMMA Investing LLC now owns 261,102 shares of the company's stock valued at $39,915,000 after buying an additional 260,158 shares during the period. Invesco Ltd. raised its holdings in SiTime by 11.0% during the 4th quarter. Invesco Ltd. now owns 983,175 shares of the company's stock worth $210,921,000 after purchasing an additional 97,062 shares during the last quarter. Hood River Capital Management LLC lifted its position in SiTime by 27.0% during the 4th 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. Emerald Advisers LLC bought a new position in SiTime in the fourth quarter valued at approximately $18,673,000. Finally, Capital World Investors bought a new stake in shares of SiTime during the 4th quarter valued at $17,654,000. 84.31% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Barclays lifted their price target on shares of SiTime from $135.00 to $180.00 and gave the stock an "underweight" rating in a research report on Wednesday, June 11th. Stifel Nicolaus upped their price target on shares of SiTime from $180.00 to $210.00 and gave the company a "buy" rating in a report 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, the company presently has a consensus rating of "Moderate Buy" and an average target price of $224.00.

SiTime Price Performance

Shares of SiTime stock opened at $206.40 on Friday. The company's 50 day moving average price is $206.08 and its two-hundred day moving average price is $188.93. The firm has a market capitalization of $4.90 billion, a P/E ratio of -54.32 and a beta of 2.20. SiTime Corporation has a fifty-two week low of $105.40 and a fifty-two week high of $268.18.

SiTime (NASDAQ:SITM - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.11 by $0.15. The business had revenue of $60.31 million during the quarter, compared to analysts' expectations of $54.01 million. SiTime had a negative return on equity of 9.43% and a negative net margin of 38.60%. The business's revenue for the quarter was up 82.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.08) EPS. On average, analysts expect that SiTime Corporation will post -2.44 earnings per share for the current year.

Insider Activity at SiTime

In other news, insider Fariborz Assaderaghi sold 5,112 shares of the business's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $205.53, for a total transaction of $1,050,669.36. Following the completion of the sale, the insider owned 107,204 shares in the company, valued at $22,033,638.12. The trade was a 4.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Tom Dang-Hsing Yiu sold 2,115 shares of the stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $200.00, for a total value of $423,000.00. Following the completion of the transaction, the director owned 18,500 shares in the company, valued at approximately $3,700,000. This represents a 10.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 63,818 shares of company stock worth $13,171,258. 2.10% of the stock is currently owned by insiders.

About SiTime

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.

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