Comerica Bank Has $3.22 Million Position in SiTime Corporation $SITM

Key Points

• Comerica Bank increased its stake in SiTime by 35% in Q4 to 9,107 shares, now worth about $3.22 million, and institutional investors collectively own 84.31% of the stock.
• Insiders sold 26,178 shares in the past 90 days valued at $11.28 million, including Director Akira Takata (3,500 shares at $431.73) and Samsheer Ahamad (9,100 shares at $441.47), which materially reduced their ownership stakes.
• Analysts remain largely positive — seven Buys, one Hold and one Sell with a consensus "Moderate Buy" and average price target of $415.63 — while SiTime reported a quarter-beating EPS of $1.53 (vs. $1.20 est.) and revenue up 66.3% year‑over‑year.

Comerica Bank lifted its stake in shares of SiTime Corporation (NASDAQ:SITM - Free Report) by 35.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,107 shares of the company's stock after purchasing an additional 2,359 shares during the quarter. Comerica Bank's holdings in SiTime were worth $3,217,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Pictet Asset Management Holding SA boosted its position in SiTime by 6.1% in the fourth quarter. Pictet Asset Management Holding SA now owns 3,256 shares of the company's stock valued at $1,150,000 after buying an additional 187 shares in the last quarter. Sanctuary Advisors LLC increased its holdings in shares of SiTime by 8.9% during the fourth quarter. Sanctuary Advisors LLC now owns 942 shares of the company's stock worth $333,000 after buying an additional 77 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of SiTime by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 2,825,402 shares of the company's stock valued at $997,904,000 after acquiring an additional 61,336 shares during the last quarter. Calamos Advisors LLC lifted its stake in shares of SiTime by 7.8% in the 4th quarter. Calamos Advisors LLC now owns 23,080 shares of the company's stock valued at $8,152,000 after acquiring an additional 1,678 shares during the last quarter. Finally, Rakuten Securities Inc. boosted its holdings in shares of SiTime by 188.5% during the 4th quarter. Rakuten Securities Inc. now owns 75 shares of the company's stock valued at $26,000 after acquiring an additional 49 shares in the last quarter. 84.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at SiTime

In related news, Director Akira Takata sold 3,500 shares of the company's stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $431.73, for a total value of $1,511,055.00. Following the sale, the director directly owned 13,734 shares in the company, valued at $5,929,379.82. This represents a 20.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Samsheer Ahamad sold 9,100 shares of the company's stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $441.47, for a total value of $4,017,377.00. Following the completion of the sale, the insider owned 52,938 shares in the company, valued at $23,370,538.86. The trade was a 14.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 26,178 shares of company stock valued at $11,282,324. Corporate insiders own 1.40% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on SITM shares. Wall Street Zen lowered SiTime from a "buy" rating to a "hold" rating in a research report on Saturday, April 11th. Weiss Ratings reissued a "sell (d-)" rating on shares of SiTime in a research note on Tuesday, April 21st. Roth Mkm restated a "buy" rating and set a $450.00 price target on shares of SiTime in a report on Thursday, February 5th. UBS Group boosted their price target on SiTime from $430.00 to $485.00 and gave the stock a "buy" rating in a report on Thursday, February 5th. Finally, Stifel Nicolaus boosted their price target on SiTime from $450.00 to $500.00 and gave the stock a "buy" rating in a report on Thursday, April 16th. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, SiTime presently has an average rating of "Moderate Buy" and a consensus price target of $415.63.

SiTime Stock Performance

NASDAQ:SITM opened at $558.63 on Monday. The stock has a market cap of $14.75 billion, a P/E ratio of -306.94 and a beta of 2.91. The stock's 50-day moving average is $406.34 and its 200-day moving average is $362.43. SiTime Corporation has a 1-year low of $158.63 and a 1-year high of $591.13.

SiTime (NASDAQ:SITM - Get Free Report) last released its quarterly earnings results on Wednesday, February 4th. The company reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.33. The company had revenue of $113.29 million for the quarter, compared to analysts' expectations of $101.91 million. SiTime had a negative return on equity of 2.06% and a negative net margin of 13.13%.The business's quarterly revenue was up 66.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.48 earnings per share. As a group, equities analysts forecast that SiTime Corporation will post 1.31 EPS for the current year.

SiTime 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.

Want to see what other hedge funds are holding SITM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SiTime Corporation (NASDAQ:SITM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.