Brown Advisory Inc. Has $76.13 Million Position in SiTime Corporation $SITM

Key Points

• Brown Advisory cut its SiTime stake by 36.3% in the fourth quarter, though it still held 215,536 shares valued at about $76.1 million.
• SiTime reported strong quarterly results, posting EPS of $1.44 and revenue of $113.57 million, both above Wall Street expectations. Revenue surged 88.3% year over year.
• Despite recent insider selling, analysts remain largely constructive on the stock, with multiple firms issuing or maintaining buy ratings and the consensus target price at $661.88.

Brown Advisory Inc. reduced its stake in shares of SiTime Corporation (NASDAQ:SITM - Free Report) by 36.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 215,536 shares of the company's stock after selling 122,891 shares during the quarter. Brown Advisory Inc. owned 0.82% of SiTime worth $76,125,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Norges Bank bought a new stake in shares of SiTime during the fourth quarter worth $83,977,000. Fuller & Thaler Asset Management Inc. bought a new position in SiTime in the fourth quarter valued at about $59,452,000. Wellington Management Group LLP boosted its holdings in SiTime by 36.8% during the third quarter. Wellington Management Group LLP now owns 537,741 shares of the company's stock worth $162,027,000 after buying an additional 144,671 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in SiTime by 22.0% during the second quarter. Ameriprise Financial Inc. now owns 736,281 shares of the company's stock worth $156,887,000 after buying an additional 132,948 shares during the last quarter. Finally, FengHe Fund Management Pte. Ltd. bought a new position in SiTime during the fourth quarter worth about $45,346,000. 84.31% of the stock is currently owned by institutional investors and hedge funds.

SiTime Stock Performance

SITM stock opened at $729.89 on Monday. The business's 50 day simple moving average is $618.04 and its 200 day simple moving average is $452.77. The firm has a market capitalization of $19.27 billion, a PE ratio of -722.66 and a beta of 2.94. SiTime Corporation has a 1-year low of $186.49 and a 1-year high of $901.81.

SiTime (NASDAQ:SITM - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.30. The business had revenue of $113.57 million during 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% on a year-over-year basis. During the same period in the previous year, the company posted $0.26 EPS. As a group, sell-side analysts predict that SiTime Corporation will post 3.23 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Christine Heckart sold 1,290 shares of the business's stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $700.00, for a total value of $903,000.00. Following the completion of the sale, 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 SEC, which is available through the SEC website. Also, insider Fariborz Assaderaghi sold 1,000 shares of the company's stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $702.90, for a total value of $702,900.00. Following the sale, the insider owned 78,936 shares of the company's stock, valued at approximately $55,484,114.40. The trade was a 1.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 52,624 shares of company stock worth $35,942,053 over the last three months. 1.40% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

SITM has been the topic of a number of recent analyst reports. Stifel Nicolaus raised their target price on SiTime from $450.00 to $500.00 and gave the stock a "buy" rating in a report on Thursday, April 16th. Wall Street Zen raised SiTime from a "hold" rating to a "buy" rating in a research report on Saturday, May 9th. The Goldman Sachs Group reissued a "buy" rating and issued a $800.00 price objective on shares of SiTime in a research report on Thursday, May 7th. Roth Mkm reissued a "buy" rating and issued a $900.00 price objective on shares of SiTime in a research report on Thursday, May 7th. Finally, UBS Group boosted their price target on SiTime from $675.00 to $775.00 and gave the stock a "buy" rating in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, SiTime currently has a consensus rating of "Moderate Buy" and a consensus target price of $661.88.

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.

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