Atria Investments Inc Invests $228,000 in SiTime Co. (NASDAQ:SITM)

Atria Investments Inc bought a new stake in shares of SiTime Co. (NASDAQ:SITM) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,332 shares of the company’s stock, valued at approximately $228,000.

Several other hedge funds also recently added to or reduced their stakes in SITM. Vanguard Group Inc. grew its stake in shares of SiTime by 4.1% during the first quarter. Vanguard Group Inc. now owns 2,203,286 shares of the company’s stock worth $205,412,000 after acquiring an additional 85,800 shares during the last quarter. Principal Financial Group Inc. boosted its stake in SiTime by 15.4% in the 3rd quarter. Principal Financial Group Inc. now owns 448,930 shares of the company’s stock worth $76,996,000 after purchasing an additional 59,931 shares in the last quarter. William Blair Investment Management LLC grew its position in SiTime by 62.0% during the 2nd quarter. William Blair Investment Management LLC now owns 208,098 shares of the company’s stock worth $25,883,000 after purchasing an additional 79,648 shares during the last quarter. Driehaus Capital Management LLC acquired a new position in SiTime during the 2nd quarter valued at approximately $16,831,000. Finally, Grandeur Peak Global Advisors LLC raised its holdings in shares of SiTime by 34.7% in the first quarter. Grandeur Peak Global Advisors LLC now owns 95,281 shares of the company’s stock worth $8,883,000 after buying an additional 24,542 shares during the last quarter. 84.31% of the stock is owned by institutional investors and hedge funds.

SiTime Price Performance

NASDAQ:SITM opened at $211.08 on Friday. The company’s fifty day moving average price is $182.84 and its 200-day moving average price is $149.58. SiTime Co. has a 1-year low of $72.39 and a 1-year high of $228.12. The firm has a market capitalization of $4.93 billion, a P/E ratio of -50.99 and a beta of 1.83.

SiTime (NASDAQ:SITM) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.14. The company had revenue of $57.70 million for the quarter, compared to the consensus estimate of $55.10 million. SiTime had a negative return on equity of 9.89% and a negative net margin of 53.55%. The firm’s revenue for the quarter was up 62.4% compared to the same quarter last year. During the same period last year, the firm earned ($0.81) EPS. Equities analysts anticipate that SiTime Co. will post -2.98 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Fariborz Assaderaghi sold 1,000 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $210.16, for a total value of $210,160.00. Following the completion of the transaction, the insider now directly owns 108,574 shares in the company, valued at $22,817,911.84. The trade was a 0.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Piyush B. Sevalia sold 807 shares of the firm’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $160.00, for a total transaction of $129,120.00. Following the sale, the insider now owns 87,534 shares in the company, valued at approximately $14,005,440. This represents a 0.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 36,234 shares of company stock valued at $6,454,237 over the last ninety days. Company insiders own 2.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Stifel Nicolaus boosted their price objective on shares of SiTime from $175.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Needham & Company LLC boosted their price target on SiTime from $140.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Barclays increased their price objective on SiTime from $90.00 to $130.00 and gave the company an “underweight” rating in a report on Friday, November 8th. Finally, Roth Mkm lifted their target price on SiTime from $205.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, November 7th.

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.