Brown Advisory Inc. Cuts Holdings in SiTime Corporation (NASDAQ:SITM)

Brown Advisory Inc. cut its stake in shares of SiTime Corporation (NASDAQ:SITM - Free Report) by 13.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund 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 SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in shares of SiTime by 27,559.1% in the 1st quarter. GAMMA Investing LLC now owns 261,102 shares of the company's stock worth $39,915,000 after purchasing an additional 260,158 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of SiTime by 11.0% during the 4th quarter. Invesco Ltd. now owns 983,175 shares of the company's stock valued at $210,921,000 after purchasing an additional 97,062 shares during the last quarter. Hood River Capital Management LLC boosted its holdings in shares of SiTime by 27.0% during the 4th quarter. Hood River Capital Management LLC now owns 421,960 shares of the company's stock valued at $90,523,000 after purchasing an additional 89,632 shares during the last quarter. Emerald Advisers LLC bought a new position in shares of SiTime during the 4th quarter valued at about $18,673,000. Finally, Capital World Investors bought a new position in shares of SiTime in the 4th quarter valued at about $17,654,000. 84.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SITM. Barclays increased their price target on shares of SiTime from $135.00 to $180.00 and gave the company an "underweight" rating in a report on Wednesday, June 11th. Stifel Nicolaus increased their price target on shares of SiTime from $180.00 to $210.00 and gave the company a "buy" rating in a report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $224.00.

SiTime Stock Performance

NASDAQ SITM traded down $3.07 during trading on Friday, hitting $206.40. The stock had a trading volume of 181,460 shares, compared to its average volume of 266,728. The stock has a market capitalization of $4.90 billion, a price-to-earnings ratio of -54.32 and a beta of 2.20. SiTime Corporation has a one year low of $105.40 and a one year high of $268.18. The stock has a 50 day simple moving average of $205.23 and a 200 day simple moving average of $189.07.

SiTime (NASDAQ:SITM - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.15. The business had revenue of $60.31 million during the quarter, compared to the consensus estimate of $54.01 million. SiTime had a negative net margin of 38.60% and a negative return on equity of 9.43%. The firm's quarterly revenue was up 82.7% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.08) earnings per share. On average, sell-side analysts predict that SiTime Corporation will post -2.44 EPS for the current year.

Insider Buying and Selling at SiTime

In other news, Director Tom Dang-Hsing Yiu sold 2,115 shares of the firm's stock in a transaction that occurred 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 transaction, the director directly owned 18,500 shares of the company's stock, valued at approximately $3,700,000. This trade represents a 10.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Vincent P. Pangrazio sold 5,026 shares of the firm's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $204.55, for a total transaction of $1,028,068.30. Following the transaction, the insider directly owned 64,842 shares in the company, valued at approximately $13,263,431.10. This trade represents a 7.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 63,818 shares of company stock valued at $13,171,258. 2.10% of the stock is owned by corporate insiders.

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.