Emerald Advisers LLC Purchases New Stake in SiTime Co. (NASDAQ:SITM)

Emerald Advisers LLC purchased a new stake in SiTime Co. (NASDAQ:SITM - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 87,040 shares of the company's stock, valued at approximately $18,673,000. Emerald Advisers LLC owned about 0.37% of SiTime at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SITM. Blue Trust Inc. raised its holdings in SiTime by 44.7% during the fourth quarter. Blue Trust Inc. now owns 217 shares of the company's stock worth $47,000 after acquiring an additional 67 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in shares of SiTime by 278.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 280 shares of the company's stock worth $60,000 after purchasing an additional 206 shares in the last quarter. AlphaQuest LLC raised its stake in shares of SiTime by 8,460.0% during the 4th quarter. AlphaQuest LLC now owns 428 shares of the company's stock worth $92,000 after purchasing an additional 423 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in shares of SiTime in the 4th quarter valued at approximately $130,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of SiTime in the fourth quarter valued at $140,000. 84.31% of the stock is owned by institutional investors.

SiTime Stock Down 6.4 %

Shares of NASDAQ SITM traded down $11.46 during mid-day trading on Thursday, reaching $166.65. 211,231 shares of the company were exchanged, compared to its average volume of 228,415. The stock has a market capitalization of $3.93 billion, a P/E ratio of -41.15 and a beta of 1.85. The company's 50-day simple moving average is $185.99 and its 200-day simple moving average is $194.81. SiTime Co. has a twelve month low of $72.39 and a twelve month high of $268.18.

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Analyst Upgrades and Downgrades

Several research firms have issued reports on SITM. Stifel Nicolaus upped their price target on shares of SiTime from $250.00 to $270.00 and gave the stock a "buy" rating in a research report on Thursday, February 6th. Raymond James reaffirmed an "outperform" rating and issued a $250.00 target price (up from $215.00) on shares of SiTime in a report on Thursday, February 6th. Needham & Company LLC lifted their price target on SiTime from $225.00 to $250.00 and gave the stock a "buy" rating in a report on Thursday, February 6th. Finally, Barclays upped their price objective on SiTime from $130.00 to $160.00 and gave the company an "underweight" rating in a research note on Friday, January 17th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, SiTime has a consensus rating of "Moderate Buy" and an average target price of $232.00.

Insider Transactions at SiTime

In related news, insider Piyush B. Sevalia sold 1,038 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $157.64, for a total transaction of $163,630.32. Following the transaction, the insider now directly owns 92,847 shares of the company's stock, valued at approximately $14,636,401.08. This trade represents a 1.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Fariborz Assaderaghi sold 1,002 shares of the business's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $220.94, for a total transaction of $221,381.88. Following the completion of the sale, the insider now directly owns 100,681 shares of the company's stock, valued at $22,244,460.14. This represents a 0.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,544 shares of company stock worth $1,200,095 over the last quarter. Company insiders own 2.30% of the company's stock.

SiTime 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.