SiTime Corporation $SITM Stake Lifted by Emerald Advisers LLC

Emerald Advisers LLC increased its position in shares of SiTime Corporation (NASDAQ:SITM) by 8.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 162,243 shares of the company’s stock after purchasing an additional 12,519 shares during the period. SiTime accounts for about 1.6% of Emerald Advisers LLC’s investment portfolio, making the stock its 13th largest holding. Emerald Advisers LLC owned 0.62% of SiTime worth $48,885,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Game Plan Financial Advisors LLC bought a new stake in shares of SiTime in the 2nd quarter worth $25,000. Salomon & Ludwin LLC acquired a new position in SiTime during the third quarter worth about $47,000. Global Retirement Partners LLC raised its position in SiTime by 3,220.0% in the third quarter. Global Retirement Partners LLC now owns 166 shares of the company’s stock worth $50,000 after acquiring an additional 161 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in SiTime by 33.6% in the 1st quarter. Advisors Asset Management Inc. now owns 350 shares of the company’s stock valued at $54,000 after acquiring an additional 88 shares during the last quarter. Finally, State of Wyoming bought a new position in shares of SiTime during the 2nd quarter valued at about $58,000. 84.31% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on SITM shares. UBS Group boosted their target price on shares of SiTime from $355.00 to $375.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of SiTime in a research report on Wednesday, October 8th. Loop Capital assumed coverage on SiTime in a research note on Friday, November 21st. They set a “buy” rating and a $350.00 price objective for the company. Roth Mkm reaffirmed a “buy” rating and set a $350.00 target price on shares of SiTime in a research report on Thursday, November 6th. Finally, Stifel Nicolaus upped their target price on SiTime from $360.00 to $400.00 and gave the company a “buy” rating in a report on Friday, January 16th. Seven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, SiTime presently has a consensus rating of “Moderate Buy” and an average target price of $360.63.

SiTime Trading Up 4.0%

Shares of SITM stock opened at $377.71 on Thursday. SiTime Corporation has a 1-year low of $105.40 and a 1-year high of $387.52. The company has a market capitalization of $9.86 billion, a price-to-earnings ratio of -127.60 and a beta of 2.49. The stock’s fifty day simple moving average is $338.29 and its 200-day simple moving average is $282.85.

SiTime (NASDAQ:SITM) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.16. The firm had revenue of $83.57 million during the quarter, compared to the consensus estimate of $78.08 million. SiTime had a negative return on equity of 5.69% and a negative net margin of 25.18%.The business’s revenue for the quarter was up 44.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.40 EPS. On average, sell-side analysts predict that SiTime Corporation will post -2.44 EPS for the current year.

Insider Buying and Selling at SiTime

In other news, insider Fariborz Assaderaghi sold 1,500 shares of the company’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $291.58, for a total value of $437,370.00. Following the transaction, the insider directly owned 84,815 shares of the company’s stock, valued at approximately $24,730,357.70. This represents a 1.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Samsheer Ahamad sold 4,000 shares of SiTime stock in a transaction on Monday, December 1st. The shares were sold at an average price of $291.10, for a total value of $1,164,400.00. Following the sale, the insider directly owned 51,711 shares of the company’s stock, valued at approximately $15,053,072.10. The trade was a 7.18% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 21,500 shares of company stock worth $6,791,710. 2.10% of the stock is currently owned by company insiders.

SiTime Company Profile

SiTime Corporation is a fabless semiconductor company specializing in silicon timing solutions that leverage micro-electromechanical systems (MEMS) technology as an alternative to traditional quartz crystals. Its portfolio of programmable oscillators, resonators, clock generators, jitter attenuators and network synchronizers addresses precision timekeeping requirements across a wide range of electronic systems. By integrating MEMS resonators with advanced mixed-signal control circuitry, SiTime’s products offer enhanced reliability, resistance to shock and vibration, and a smaller footprint compared with conventional quartz devices.

The company’s timing devices serve diverse end markets, including telecommunications infrastructure, data center and enterprise networking, consumer electronics, automotive systems, industrial automation, and aerospace and defense applications.