SiTime Corporation $SITM Shares Sold by Emerald Advisers LLC

Emerald Advisers LLC reduced its holdings in shares of SiTime Corporation (NASDAQ:SITM) by 25.6% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 65,762 shares of the company’s stock after selling 22,570 shares during the period. Emerald Advisers LLC’s holdings in SiTime were worth $22,711,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Rakuten Securities Inc. boosted its position in SiTime by 188.5% in the 4th quarter. Rakuten Securities Inc. now owns 75 shares of the company’s stock valued at $26,000 after buying an additional 49 shares during the period. Larson Financial Group LLC grew its stake in shares of SiTime by 3,200.0% in the third quarter. Larson Financial Group LLC now owns 99 shares of the company’s stock worth $30,000 after acquiring an additional 96 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of SiTime in the fourth quarter worth $33,000. Danske Bank A S purchased a new stake in shares of SiTime during the fourth quarter worth $35,000. Finally, Bernard Wealth Management Corp. purchased a new stake in shares of SiTime during the fourth quarter worth $41,000. 84.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Raman Chitkara sold 2,000 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $727.38, for a total value of $1,454,760.00. Following the completion of the sale, the director directly owned 19,898 shares of the company’s stock, valued at approximately $14,473,407.24. This represents a 9.13% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Torsten Kreindl sold 710 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $720.00, for a total transaction of $511,200.00. Following the transaction, the director owned 13,141 shares in the company, valued at approximately $9,461,520. This trade represents a 5.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 72,128 shares of company stock valued at $51,401,463 in the last 90 days. Company insiders own 1.40% of the company’s stock.

SiTime Stock Performance

SiTime stock opened at $602.55 on Tuesday. SiTime Corporation has a fifty-two week low of $186.49 and a fifty-two week high of $901.81. The company has a market capitalization of $15.91 billion, a P/E ratio of -596.58 and a beta of 2.91. The stock has a 50-day simple moving average of $703.97 and a 200-day simple moving average of $501.33.

SiTime (NASDAQ:SITM) last released its quarterly earnings results on Wednesday, May 6th. The company reported $1.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.30. The firm had revenue of $113.57 million for the quarter, compared to the consensus estimate of $103.51 million. SiTime had a positive return on equity of 0.53% and a negative net margin of 6.38%.The firm’s quarterly revenue was up 88.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.26 EPS. As a group, analysts forecast that SiTime Corporation will post 3.23 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SITM. Zacks Research cut SiTime from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of SiTime in a research note on Tuesday, April 21st. The Goldman Sachs Group restated a “buy” rating and set a $800.00 price target on shares of SiTime in a report on Thursday, May 7th. Stifel Nicolaus increased their price target on SiTime from $450.00 to $500.00 and gave the company a “buy” rating in a research report on Thursday, April 16th. Finally, Needham & Company LLC lifted their price objective on SiTime from $450.00 to $850.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Eight equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, SiTime currently has an average rating of “Moderate Buy” and a consensus target price of $661.88.

About SiTime

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.