Emerald Mutual Fund Advisers Trust Reduces Holdings in SiTime Corporation $SITM

Emerald Mutual Fund Advisers Trust decreased its position in shares of SiTime Corporation (NASDAQ:SITM) by 22.1% in the 1st quarter, Holdings Channel reports. The fund owned 41,170 shares of the company’s stock after selling 11,655 shares during the quarter. Emerald Mutual Fund Advisers Trust’s holdings in SiTime were worth $14,218,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Royal Bank of Canada raised its stake in SiTime by 12.5% in the 1st quarter. Royal Bank of Canada now owns 4,411 shares of the company’s stock valued at $675,000 after acquiring an additional 491 shares during the period. Advisors Asset Management Inc. boosted its position in SiTime by 33.6% during the first quarter. Advisors Asset Management Inc. now owns 350 shares of the company’s stock worth $54,000 after purchasing an additional 88 shares during the period. AQR Capital Management LLC boosted its position in SiTime by 310.8% during the first quarter. AQR Capital Management LLC now owns 10,754 shares of the company’s stock worth $1,557,000 after purchasing an additional 8,136 shares during the period. Intech Investment Management LLC increased its stake in shares of SiTime by 21.6% in the first quarter. Intech Investment Management LLC now owns 8,322 shares of the company’s stock worth $1,272,000 after purchasing an additional 1,477 shares in the last quarter. Finally, M&T Bank Corp purchased a new position in shares of SiTime in the second quarter worth about $240,000. Hedge funds and other institutional investors own 84.31% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of SiTime in a research report on Tuesday, April 21st. UBS Group lifted their price objective on shares of SiTime from $675.00 to $775.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Zacks Research cut shares of SiTime from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Stifel Nicolaus increased their target price on SiTime from $450.00 to $500.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th. Finally, Barclays raised SiTime from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $400.00 to $850.00 in a report on Thursday, May 7th. Eight research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $661.88.

Insiders Place Their Bets

In other news, Director Christine Heckart sold 1,290 shares of the business’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $700.00, for a total transaction of $903,000.00. Following the completion of the transaction, the director directly owned 790 shares in the company, valued at $553,000. The trade was a 62.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Rajesh Vashist sold 5,000 shares of the business’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $750.00, for a total transaction of $3,750,000.00. Following the transaction, the chief executive officer owned 9,781 shares of the company’s stock, valued at $7,335,750. This trade represents a 33.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 72,128 shares of company stock worth $51,401,463. Company insiders own 1.40% of the company’s stock.

SiTime Stock Down 4.2%

Shares of SITM opened at $602.55 on Tuesday. SiTime Corporation has a twelve month low of $186.49 and a twelve month high of $901.81. The stock has a market cap of $15.91 billion, a PE ratio of -596.58 and a beta of 2.91. The business’s 50-day moving average price is $703.97 and its 200-day moving average price is $501.33.

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

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.