Emerald Mutual Fund Advisers Trust Has $19.01 Million Position in SiTime Corporation $SITM

Emerald Mutual Fund Advisers Trust increased its position in SiTime Corporation (NASDAQ:SITM) by 84.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 89,197 shares of the company’s stock after buying an additional 40,736 shares during the period. SiTime accounts for 1.2% of Emerald Mutual Fund Advisers Trust’s portfolio, making the stock its 27th largest holding. Emerald Mutual Fund Advisers Trust owned 0.38% of SiTime worth $19,006,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. boosted its position in SiTime by 17.0% during the first quarter. Ameriprise Financial Inc. now owns 603,333 shares of the company’s stock worth $92,233,000 after purchasing an additional 87,598 shares during the period. Alliancebernstein L.P. boosted its position in SiTime by 2,016.8% during the first quarter. Alliancebernstein L.P. now owns 443,227 shares of the company’s stock worth $67,756,000 after purchasing an additional 422,288 shares during the period. Wellington Management Group LLP boosted its position in SiTime by 41.9% during the first quarter. Wellington Management Group LLP now owns 277,590 shares of the company’s stock worth $42,435,000 after purchasing an additional 82,017 shares during the period. Eventide Asset Management LLC boosted its position in SiTime by 5,015.9% during the first quarter. Eventide Asset Management LLC now owns 166,214 shares of the company’s stock worth $25,408,000 after purchasing an additional 162,965 shares during the period. Finally, Emerald Advisers LLC boosted its position in SiTime by 29.7% during the second quarter. Emerald Advisers LLC now owns 149,724 shares of the company’s stock worth $31,903,000 after purchasing an additional 34,291 shares during the period. Institutional investors own 84.31% of the company’s stock.

Analyst Ratings Changes

SITM has been the subject of a number of recent analyst reports. UBS Group upped their target price on SiTime from $260.00 to $355.00 and gave the stock a “buy” rating in a research report on Monday, October 6th. Stifel Nicolaus upped their target price on SiTime from $230.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday, September 18th. Raymond James Financial reaffirmed an “outperform” rating and set a $270.00 target price (up previously from $250.00) on shares of SiTime in a research report on Friday, August 29th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SiTime in a research report on Wednesday, October 8th. Finally, Barclays upped their target price on SiTime from $180.00 to $220.00 and gave the stock an “underweight” rating in a research report on Thursday, August 7th. Five analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $274.17.

Insider Buying and Selling

In other news, insider Fariborz Assaderaghi sold 3,000 shares of the stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $231.75, for a total value of $695,250.00. Following the completion of the sale, the insider directly owned 90,433 shares of the company’s stock, valued at approximately $20,957,847.75. This represents a 3.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Piyush B. Sevalia sold 2,056 shares of the company’s stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $251.50, for a total value of $517,084.00. Following the completion of the transaction, the insider owned 78,757 shares of the company’s stock, valued at $19,807,385.50. The trade was a 2.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 36,367 shares of company stock valued at $9,330,713 in the last ninety days. Company insiders own 2.10% of the company’s stock.

SiTime Trading Up 2.3%

SITM opened at $277.63 on Thursday. SiTime Corporation has a 1-year low of $105.40 and a 1-year high of $323.66. The stock has a market capitalization of $7.22 billion, a price-to-earnings ratio of -79.78 and a beta of 2.35. The business has a 50 day moving average of $274.32 and a 200-day moving average of $223.14.

SiTime (NASDAQ:SITM) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.18. SiTime had a negative return on equity of 7.54% and a negative net margin of 32.15%.The company had revenue of $69.49 million during the quarter, compared to analysts’ expectations of $64.66 million. During the same period in the prior year, the business earned $0.12 earnings per share. SiTime’s revenue for the quarter was up 58.3% compared to the same quarter last year. Equities analysts predict that SiTime Corporation will post -2.44 EPS for the current year.

SiTime Company 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.