Atria Investments Inc Takes $228,000 Position 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 the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,332 shares of the company’s stock, valued at approximately $228,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Russell Investments Group Ltd. increased its position in SiTime by 47.0% during the first quarter. Russell Investments Group Ltd. now owns 7,754 shares of the company’s stock valued at $723,000 after acquiring an additional 2,480 shares during the last quarter. ProShare Advisors LLC grew its holdings in SiTime by 9.5% during the 1st quarter. ProShare Advisors LLC now owns 3,574 shares of the company’s stock valued at $333,000 after purchasing an additional 311 shares during the last quarter. Vanguard Group Inc. grew its holdings in SiTime by 4.1% during the 1st quarter. Vanguard Group Inc. now owns 2,203,286 shares of the company’s stock valued at $205,412,000 after purchasing an additional 85,800 shares during the last quarter. UniSuper Management Pty Ltd purchased a new stake in SiTime in the 1st quarter worth about $363,000. Finally, Bessemer Group Inc. lifted its stake in SiTime by 70.1% in the first quarter. Bessemer Group Inc. now owns 1,213 shares of the company’s stock worth $113,000 after purchasing an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 84.31% of the company’s stock.

SiTime Trading Up 0.3 %

Shares of SITM stock opened at $211.08 on Friday. SiTime Co. has a twelve month low of $72.39 and a twelve month high of $228.12. The stock has a fifty day simple moving average of $182.84 and a two-hundred day simple moving average of $149.58. The stock has a market capitalization of $4.93 billion, a price-to-earnings ratio of -50.99 and a beta of 1.83.

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

Wall Street Analyst Weigh In

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

Insider Activity

In related news, insider Fariborz Assaderaghi sold 1,003 shares of the company’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $140.00, for a total transaction of $140,420.00. Following the completion of the sale, the insider now directly owns 111,581 shares in the company, valued at $15,621,340. This represents a 0.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Torsten Kreindl sold 6,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $220.86, for a total value of $1,325,160.00. Following the sale, the director now directly owns 13,511 shares in the company, valued at approximately $2,984,039.46. The trade was a 30.75 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 36,234 shares of company stock worth $6,454,237. Corporate insiders own 2.30% of the company’s stock.

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.