Welcome to our dedicated page for SiTime news (Ticker: SITM), a resource for investors and traders seeking the latest updates and insights on SiTime stock.
SiTime Corporation reports news about its Precision Timing business, including semiconductor MEMS programmable solutions used to provide timing functionality for electronics. Company updates cover product introductions such as Elite 2 Super-TCXO, applications in AI data centers, automated driving, industrial and humanoid robots, wearables and IoT, and developments across the company’s fabless timing-systems model.
Recurring SiTime news also includes quarterly and annual financial results, conference participation, governance changes, and material corporate events. Coverage centers on revenue trends, GAAP and non-GAAP operating metrics, product positioning against quartz timing technologies, and board-level updates for the Nasdaq-listed semiconductor company.
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.