Emerald Advisers LLC Has $17.65 Million Stake in SiTime Corporation (NASDAQ:SITM)

Emerald Advisers LLC lifted its holdings in shares of SiTime Corporation (NASDAQ:SITM - Free Report) by 32.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 115,433 shares of the company's stock after buying an additional 28,393 shares during the period. Emerald Advisers LLC owned approximately 0.49% of SiTime worth $17,646,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Summit Investment Advisors Inc. raised its holdings in SiTime by 4.5% during the fourth quarter. Summit Investment Advisors Inc. now owns 1,945 shares of the company's stock worth $417,000 after purchasing an additional 83 shares in the last quarter. Xponance Inc. grew its position in SiTime by 7.2% in the first quarter. Xponance Inc. now owns 1,419 shares of the company's stock worth $217,000 after buying an additional 95 shares during the last quarter. Vident Advisory LLC grew its position in SiTime by 5.0% in the fourth quarter. Vident Advisory LLC now owns 2,199 shares of the company's stock worth $472,000 after buying an additional 104 shares during the last quarter. Ellevest Inc. grew its position in SiTime by 2.2% in the fourth quarter. Ellevest Inc. now owns 5,254 shares of the company's stock worth $1,127,000 after buying an additional 113 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its position in SiTime by 15.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 877 shares of the company's stock worth $188,000 after purchasing an additional 118 shares in the last quarter. 84.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SITM has been the topic of several research analyst reports. Stifel Nicolaus lifted their price objective on shares of SiTime from $180.00 to $210.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Barclays lifted their target price 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. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $224.00.

SiTime Stock Up 0.6%

Shares of NASDAQ:SITM traded up $1.27 during trading on Wednesday, reaching $205.65. 251,159 shares of the company traded hands, compared to its average volume of 265,954. The firm has a fifty day simple moving average of $207.68 and a 200 day simple moving average of $188.41. The firm has a market cap of $4.88 billion, a P/E ratio of -54.12 and a beta of 2.20. SiTime Corporation has a 1-year low of $105.40 and a 1-year 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, beating analysts' consensus estimates of $0.11 by $0.15. The company had revenue of $60.31 million during the quarter, compared to analyst estimates of $54.01 million. SiTime had a negative net margin of 38.60% and a negative return on equity of 9.43%. The company's revenue for the quarter was up 82.7% on a year-over-year basis. During the same quarter last year, the business posted ($0.08) EPS. As a group, research analysts anticipate that SiTime Corporation will post -2.44 EPS for the current year.

Insiders Place Their Bets

In related news, insider Piyush B. Sevalia sold 1,039 shares of SiTime stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $220.00, for a total value of $228,580.00. Following the completion of the sale, the insider owned 85,516 shares of the company's stock, valued at approximately $18,813,520. The trade was a 1.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Rajesh Vashist sold 10,000 shares of SiTime stock in a transaction on Monday, June 9th. The shares were sold at an average price of $215.00, for a total transaction of $2,150,000.00. Following the completion of the sale, the chief executive officer directly owned 474,763 shares of the company's stock, valued at approximately $102,074,045. The trade was a 2.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 63,818 shares of company stock worth $13,171,258 in the last 90 days. 2.10% of the stock is owned by corporate 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.