M&T Bank Corp Acquires New Position in SiTime Co. (NASDAQ:SITM)

M&T Bank Corp acquired a new stake in shares of SiTime Co. (NASDAQ:SITM) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,095 shares of the company’s stock, valued at approximately $235,000.

A number of other large investors also recently modified their holdings of SITM. Blue Trust Inc. increased its stake in SiTime by 44.7% in the 4th quarter. Blue Trust Inc. now owns 217 shares of the company’s stock worth $47,000 after purchasing an additional 67 shares during the period. Smartleaf Asset Management LLC grew its position in shares of SiTime by 278.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 280 shares of the company’s stock worth $60,000 after buying an additional 206 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of SiTime in the 4th quarter worth approximately $140,000. Sanctuary Advisors LLC bought a new stake in shares of SiTime in the 3rd quarter worth approximately $166,000. Finally, Assetmark Inc. grew its position in shares of SiTime by 21.2% in the 4th quarter. Assetmark Inc. now owns 882 shares of the company’s stock worth $189,000 after buying an additional 154 shares during the last quarter. 84.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SITM has been the topic of a number of recent analyst reports. Stifel Nicolaus lifted their price objective on SiTime from $250.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Needham & Company LLC lifted their price objective on SiTime from $225.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Barclays lifted their price objective on SiTime from $130.00 to $160.00 and gave the stock an “underweight” rating in a research report on Friday, January 17th. Finally, Raymond James restated an “outperform” rating and set a $250.00 price target (up from $215.00) on shares of SiTime in a research report on Thursday, February 6th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $232.00.

Insider Buying and Selling at SiTime

In other SiTime news, insider Piyush B. Sevalia sold 1,038 shares of SiTime stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $157.64, for a total transaction of $163,630.32. Following the completion of the transaction, the insider now owns 92,847 shares in the company, valued at approximately $14,636,401.08. The trade was a 1.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Fariborz Assaderaghi sold 1,003 shares of SiTime stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $204.42, for a total value of $205,033.26. Following the transaction, the insider now owns 99,678 shares of the company’s stock, valued at $20,376,176.76. The trade was a 1.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,544 shares of company stock worth $1,200,095. 2.30% of the stock is owned by insiders.

SiTime Stock Up 5.4 %

NASDAQ SITM opened at $167.03 on Friday. SiTime Co. has a twelve month low of $72.39 and a twelve month high of $268.18. The firm has a market capitalization of $3.94 billion, a PE ratio of -41.24 and a beta of 1.85. The stock’s 50 day moving average is $196.12 and its 200 day moving average is $192.71.

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.