SiTime Corporation (NASDAQ:SITM) Shares Sold by Brown Advisory Inc.

Brown Advisory Inc. lessened its holdings in SiTime Corporation (NASDAQ:SITM - Free Report) by 13.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 416,975 shares of the company's stock after selling 62,674 shares during the period. Brown Advisory Inc. owned about 1.76% of SiTime worth $63,743,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Fourth Dimension Wealth LLC acquired a new stake in SiTime in the 4th quarter worth about $25,000. Opal Wealth Advisors LLC acquired a new position in shares of SiTime during the 1st quarter worth approximately $32,000. Aster Capital Management DIFC Ltd acquired a new position in shares of SiTime during the 4th quarter worth approximately $58,000. Smartleaf Asset Management LLC boosted its holdings 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 during the last quarter. Finally, Lazard Asset Management LLC acquired a new position in shares of SiTime during the 4th quarter worth approximately $81,000. 84.31% of the stock is currently owned by institutional investors and hedge funds.

SiTime Stock Up 1.2%

NASDAQ SITM traded up $2.43 on Wednesday, reaching $210.57. The stock had a trading volume of 266,682 shares, compared to its average volume of 268,048. The firm has a market capitalization of $4.99 billion, a price-to-earnings ratio of -55.41 and a beta of 2.20. SiTime Corporation has a 12-month low of $105.40 and a 12-month high of $268.18. The stock has a fifty day moving average price of $202.90 and a two-hundred day moving average price of $188.99.

SiTime (NASDAQ:SITM - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.26 earnings per share for the quarter, topping analysts' consensus estimates of $0.11 by $0.15. The business had revenue of $60.31 million for the quarter, compared to analyst estimates of $54.01 million. SiTime had a negative return on equity of 9.43% and a negative net margin of 38.60%. The company's revenue was up 82.7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.08) earnings per share. Sell-side analysts forecast that SiTime Corporation will post -2.44 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Tom Dang-Hsing Yiu sold 2,115 shares of the business's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $200.00, for a total transaction of $423,000.00. Following the completion of the transaction, the director owned 18,500 shares in the company, valued at approximately $3,700,000. The trade was a 10.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Samsheer Ahamad sold 7,728 shares of the business's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $207.41, for a total transaction of $1,602,864.48. Following the transaction, the insider owned 78,095 shares of the company's stock, valued at approximately $16,197,683.95. The trade was a 9.00% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 63,818 shares of company stock valued at $13,171,258. Insiders own 2.30% of the company's stock.

Analyst Upgrades and Downgrades

SITM has been the topic of several recent research reports. Barclays boosted their target price on SiTime from $135.00 to $180.00 and gave the stock an "underweight" rating in a report on Wednesday, June 11th. Stifel Nicolaus lifted their price target on shares of SiTime from $180.00 to $210.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $224.00.

About SiTime

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.