SiTime Corporation $SITM Shares Acquired by M&T Bank Corp

Key Points

• M&T Bank Corp raised its stake in SiTime by 517% in Q4 to 7,139 shares (worth about $2.52M), and institutional investors collectively own 84.31% of the stock.
• Wall Street sentiment is largely positive with a consensus rating of "Moderate Buy" (7 Buys, 1 Hold, 1 Sell) and a consensus price target of $415.63, while several brokers have lifted targets up to $500.
• SiTime beat estimates in its latest quarter — revenue $113.29M (+66.3% YoY) and EPS $1.53 — though it still reports a negative net margin and ROE; the stock trades near $548 (12‑month high $591).

M&T Bank Corp increased its position in shares of SiTime Corporation (NASDAQ:SITM - Free Report) by 517.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,139 shares of the company's stock after buying an additional 5,982 shares during the period. M&T Bank Corp's holdings in SiTime were worth $2,521,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in SITM. Wellington Management Group LLP increased its position in shares of 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 acquiring an additional 144,671 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in 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 purchasing an additional 132,948 shares during the last quarter. Vanguard Group Inc. boosted its holdings in SiTime by 4.7% in the third quarter. Vanguard Group Inc. now owns 2,764,066 shares of the company's stock valued at $832,841,000 after purchasing an additional 123,287 shares during the last quarter. TimesSquare Capital Management LLC boosted its holdings in SiTime by 455.2% in the third quarter. TimesSquare Capital Management LLC now owns 131,700 shares of the company's stock valued at $39,683,000 after purchasing an additional 107,980 shares during the last quarter. Finally, UBS Group AG boosted its holdings in SiTime by 47.5% in the third quarter. UBS Group AG now owns 168,491 shares of the company's stock valued at $50,768,000 after purchasing an additional 54,243 shares during the last quarter. Institutional investors and hedge funds own 84.31% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SITM. Weiss Ratings reissued a "sell (d-)" rating on shares of SiTime in a report on Tuesday, April 21st. UBS Group lifted their price target on shares of SiTime from $430.00 to $485.00 and gave the stock a "buy" rating in a research note on Thursday, February 5th. Barclays set a $400.00 price target on shares of SiTime in a research note on Thursday, February 5th. Roth Mkm restated a "buy" rating and issued a $450.00 price target on shares of SiTime in a research note on Thursday, February 5th. Finally, Stifel Nicolaus lifted their price target on shares of SiTime from $450.00 to $500.00 and gave the stock a "buy" rating in a research note on Thursday, April 16th. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $415.63.

Insider Transactions at SiTime

In other SiTime news, Director Akira Takata sold 3,500 shares of SiTime stock in a transaction on Friday, February 6th. The shares were sold at an average price of $431.73, for a total value of $1,511,055.00. Following the completion of the transaction, the director owned 13,734 shares of the company's stock, valued at $5,929,379.82. The trade was a 20.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Piyush B. Sevalia sold 2,419 shares of SiTime stock in a transaction on Friday, April 17th. The stock was sold at an average price of $484.05, for a total transaction of $1,170,916.95. Following the completion of the transaction, the insider directly owned 84,250 shares of the company's stock, valued at approximately $40,781,212.50. This represents a 2.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 26,178 shares of company stock valued at $11,282,324 over the last quarter. Insiders own 2.30% of the company's stock.

SiTime Price Performance

SiTime stock opened at $547.98 on Tuesday. The company has a market cap of $14.47 billion, a PE ratio of -301.09 and a beta of 2.57. The company has a fifty day moving average price of $398.66 and a two-hundred day moving average price of $357.19. SiTime Corporation has a 12 month low of $138.74 and a 12 month high of $591.13.

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

About SiTime

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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