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

Brown Advisory Inc. lessened its position in SiTime Corporation (NASDAQ:SITM) by 36.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 215,536 shares of the company’s stock after selling 122,891 shares during the quarter. Brown Advisory Inc.’s holdings in SiTime were worth $76,125,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of SiTime by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 2,825,402 shares of the company’s stock valued at $997,904,000 after buying an additional 61,336 shares during the period. Invesco Ltd. increased its stake in shares of SiTime by 1.8% in the third quarter. Invesco Ltd. now owns 1,037,305 shares of the company’s stock valued at $312,550,000 after buying an additional 18,165 shares during the period. State Street Corp increased its stake in shares of SiTime by 3.7% in the second quarter. State Street Corp now owns 911,280 shares of the company’s stock valued at $194,176,000 after buying an additional 32,178 shares during the period. Ameriprise Financial Inc. increased its stake in shares of SiTime by 22.0% in the second quarter. Ameriprise Financial Inc. now owns 736,281 shares of the company’s stock valued at $156,887,000 after buying an additional 132,948 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of SiTime by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 539,425 shares of the company’s stock valued at $190,550,000 after buying an additional 15,850 shares during the period. Institutional investors and hedge funds own 84.31% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on SITM shares. Wall Street Zen raised SiTime from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Barclays upgraded SiTime from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $400.00 to $850.00 in a report on Thursday, May 7th. Weiss Ratings restated a “sell (d-)” rating on shares of SiTime in a report on Tuesday, April 21st. The Goldman Sachs Group restated a “buy” rating and issued a $800.00 target price on shares of SiTime in a report on Thursday, May 7th. Finally, Stifel Nicolaus raised their target price on SiTime from $450.00 to $500.00 and gave the company a “buy” rating in a report on Thursday, April 16th. One equities 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.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $661.88.

Insiders Place Their Bets

In other news, CEO Rajesh Vashist sold 10,000 shares of SiTime stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $701.13, for a total value of $7,011,300.00. Following the completion of the transaction, the chief executive officer directly owned 14,781 shares in the company, valued at approximately $10,363,402.53. The trade was a 40.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Christine Heckart sold 1,290 shares of SiTime stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $700.00, for a total value of $903,000.00. Following the completion of the transaction, the director owned 790 shares of the company’s stock, valued at approximately $553,000. This trade represents a 62.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 52,624 shares of company stock valued at $35,942,053. Company insiders own 1.40% of the company’s stock.

SiTime Stock Performance

Shares of SITM opened at $729.89 on Monday. The stock has a 50 day moving average of $618.04 and a 200 day moving average of $452.77. SiTime Corporation has a 12 month low of $186.49 and a 12 month high of $901.81. The company has a market capitalization of $19.27 billion, a price-to-earnings ratio of -722.66 and a beta of 2.94.

SiTime (NASDAQ:SITM) last released its earnings results on Wednesday, May 6th. The company reported $1.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.30. SiTime had a positive return on equity of 0.53% and a negative net margin of 6.38%.The business had revenue of $113.57 million during the quarter, compared to the consensus estimate of $103.51 million. During the same period last year, the business posted $0.26 earnings per share. The business’s revenue for the quarter was up 88.3% on a year-over-year basis. As a group, equities research analysts predict that SiTime Corporation will post 3.23 earnings per share for the current 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.