SITIME CORP Stock Price, News & Analysis

SiTime Corporation (Nasdaq: SITM) will announce its fourth quarter 2020 financial results on February 3, 2021, after market close. CEO Rajesh Vashist and CFO Art Chadwick will discuss the results in a conference call at 2:00 p.m. PT. Investors can access the conference call via dial-in numbers or through a live audio webcast available on the company's investor relations website. A replay will be accessible until February 10, 2021.

SiTime is a leader in silicon MEMS timing solutions, having shipped over 2 billion devices.

SiTime Corporation (NASDAQ: SITM) recently announced it has shipped a cumulative total of 2 billion units of its silicon MEMS timing solutions. This milestone highlights its leadership in the MEMS timing sector, driven by the growing demand for precise timing in applications such as 5G, cloud computing, automotive, and IoT. The company has enhanced its executive team with industry experts, aiming to further bolster its operations and technology divisions. CEO Rajesh Vashist emphasized the critical role of precision timing in the evolving digital landscape.

SiTime Corporation (Nasdaq: SITM) has revised its revenue guidance for the fourth quarter of 2020, now expecting an increase of 18% to 22% sequentially from Q3 2020, up from the previous estimate of 10% to 15%. This update was announced during a call on November 4, 2020, reflecting strong market performance. The company emphasizes that these forward-looking statements are subject to various risks and uncertainties. Investors are advised to review SEC filings for more details on potential risks.

SiTime Corporation (Nasdaq: SITM) reported a strong third quarter for 2020, with net revenue of $32.7 million, reflecting a 29.0% year-over-year increase and a 52.1% rise from Q2 2020. Gross margins were 51.7% of revenue, while operating expenses were 53.5% of revenue, resulting in a GAAP loss from operations of $0.6 million. Non-GAAP results showed net income of $4.4 million, or $0.23 per diluted share. Cash reserves stood at $69.2 million as of September 30, 2020. The company will discuss these results in a conference call today.

SiTime Corporation (Nasdaq: SITM) will release its third quarter 2020 financial results on November 4, 2020, after market close. The results will be discussed in a conference call hosted by CEO Rajesh Vashist and CFO Art Chadwick at 2:00 p.m. PT. Investors can access the live audio webcast on the investor relations section of SiTime’s website, which will be archived for 90 days. A telephone replay will also be available until November 11, 2020.

SiTime Corporation (Nasdaq: SITM) has raised its revenue guidance for Q3 2020, projecting revenues between $31 million and $32 million, which is at least 10% above the previous guidance of $28 million to $29 million. This increase is attributed to initial revenue from a new design win with a significant existing customer. The company emphasizes that these forward-looking statements involve risks and uncertainties, with actual results potentially differing from projections. Investors are encouraged to review filings with the SEC for detailed risk factors.

SiTime Corporation (Nasdaq: SITM) has completed a follow-on public offering of 4,025,000 shares at $32.00 each, raising approximately $45.1 million for the company after expenses. The offering included 1,525,000 shares sold by SiTime and 2,500,000 shares by MegaChips Corporation. The net proceeds will be utilized for debt repayment and general corporate purposes. Barclays and Stifel were the lead managers for the offering, which was registered with the U.S. SEC.

SiTime Corporation (Nasdaq: SITM) has announced a public offering of 3,500,000 shares at $32.00 per share, which includes 2,500,000 shares sold by MegaChips Corporation and 1,000,000 shares issued by SiTime. The company expects to raise approximately $32 million to repay debt and for general corporate purposes. The offering is set to close on June 16, 2020, subject to customary conditions. Additionally, the underwriters have a 30-day option to purchase up to 525,000 additional shares. Barclays and Stifel are the lead managers for this offering.

On June 9, 2020, SiTime Corporation (Nasdaq: SITM) announced a public offering of 3,500,000 shares of common stock. This includes 2,500,000 shares from MegaChips Corporation and 1,000,000 shares from SiTime. Additionally, a 30-day option for underwriters to purchase 525,000 more shares has been included. SiTime will use the net proceeds for debt repayment and general corporate purposes. Barclays and Stifel are leading the offering as joint managers. The registration statement is filed with the SEC but is not yet effective.