Emerald Advisers LLC Grows Stock Holdings in SiTime Corporation (NASDAQ:SITM)

Emerald Advisers LLC lifted its position in shares of SiTime Corporation (NASDAQ:SITM - Free Report) by 32.6% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 115,433 shares of the company's stock after buying an additional 28,393 shares during the quarter. Emerald Advisers LLC owned approximately 0.49% of SiTime worth $17,646,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of SITM. Proficio Capital Partners LLC bought a new stake in SiTime in the 4th quarter valued at $4,418,000. M&T Bank Corp bought a new stake in SiTime in the 4th quarter valued at $235,000. GAMMA Investing LLC increased its holdings in SiTime by 80.9% in the 1st quarter. GAMMA Investing LLC now owns 1,708 shares of the company's stock valued at $261,000 after acquiring an additional 764 shares during the last quarter. Wells Fargo & Company MN increased its holdings in SiTime by 25.5% in the 4th quarter. Wells Fargo & Company MN now owns 14,788 shares of the company's stock valued at $3,172,000 after acquiring an additional 3,004 shares during the last quarter. Finally, Rhumbline Advisers increased its holdings in SiTime by 0.9% in the 1st quarter. Rhumbline Advisers now owns 51,143 shares of the company's stock valued at $7,818,000 after acquiring an additional 440 shares during the last quarter. Hedge funds and other institutional investors own 84.31% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on SITM shares. Barclays lifted their price target on shares of SiTime from $135.00 to $180.00 and gave the company an "underweight" rating in a report on Wednesday, June 11th. Stifel Nicolaus lifted 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, SiTime currently has a consensus rating of "Moderate Buy" and an average price target of $224.00.

Insider Activity at SiTime

In related news, Director Tom Dang-Hsing Yiu sold 2,115 shares of the company's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $200.00, for a total transaction of $423,000.00. Following the transaction, the director directly owned 18,500 shares in the company, valued at approximately $3,700,000. This represents a 10.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Rajesh Vashist sold 20,000 shares of the company's stock in a transaction dated 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 transaction, the chief executive officer owned 490,320 shares in the company, valued at $103,285,908. The trade was a 3.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 63,818 shares of company stock worth $13,171,258 in the last three months. 2.10% of the stock is owned by insiders.

SiTime Price Performance

Shares of SiTime stock traded down $3.07 during trading hours on Friday, reaching $206.40. The company's stock had a trading volume of 181,461 shares, compared to its average volume of 266,342. The firm has a 50 day moving average price of $206.08 and a 200-day moving average price of $188.66. SiTime Corporation has a one year low of $105.40 and a one year high of $268.18. The stock has a market cap of $4.90 billion, a P/E ratio of -54.32 and a beta of 2.20.

SiTime (NASDAQ:SITM - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $0.26 earnings per share for the quarter, topping 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 firm had revenue of $60.31 million for the quarter, compared to the consensus estimate of $54.01 million. During the same period in the previous year, the firm posted ($0.08) EPS. The business's quarterly revenue was up 82.7% on a year-over-year basis. As a group, sell-side analysts forecast that SiTime Corporation will post -2.44 EPS for the current fiscal year.

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.