SITIME CORP Stock Price, News & Analysis

SiTime Corp. (NASDAQ: SITM) will participate in the International Timing and Sync Forum (ITSF) from November 7 to 10 in Düsseldorf, Germany. The event is a significant gathering for precision timing solutions across various sectors, including automotive and aerospace. SiTime will present advancements in TCXO technology and host a webinar on durable timing in emerging applications. Jeff Gao, VP of Product Marketing, will speak on November 10, 2022. SiTime offers programmable timing solutions that enhance product performance and reliability.

SiTime Corporation (Nasdaq: SITM) reported third-quarter 2022 financial results, posting net revenue of $73.1 million, which reflects a 16.0% increase year-over-year but an 8.0% decline from the previous quarter. Gross margins stood at 64.7%, with GAAP net income of $5.8 million or $0.26 per diluted share. Non-GAAP net income was $21.9 million or $0.97 per diluted share. The company has cash and cash equivalents totaling $41.6 million, with short-term investments amounting to $522.2 million as of September 30, 2022.

SiTime Corporation (NASDAQ: SITM) has launched the SiT1881 ultra-low-power 32 kHz oscillator family, enhancing performance for automotive applications like ADAS and infotainment. This new series boasts 4x better stability, 20% lower power consumption, and a 30% smaller size, contributing to longer battery life. With Gartner forecasting a rise in semiconductor content per vehicle, demand for precision timing solutions is set to grow. The SiT1881 ensures accurate timekeeping while being the industry’s smallest at just 1.2 mm x 1.1 mm x 0.55 mm, with samples available from November 1, 2022.

SiTime Corporation (NASDAQ: SITM) will showcase its precision timing solutions at the OCP Global Summit 2022 in Santa Clara, California from October 18-20. The company's demonstration will feature the Elite Super-TCXO, Cascade Network Synchronizer, and IEEE 1588 software, achieving Class D accuracy essential for high-performance 5G networks. SiTime's MEMS technology is designed to enhance environmental resilience, facilitating ultra-fast speeds and low latency in 5G systems. The event offers attendees a chance to interact with experts and learn about advanced synchronization solutions.

SiTime Corporation (SITM) will release its third quarter 2022 financial results on November 2, 2022, after market close. The announcement will be followed by a conference call at 2:00 p.m. Pacific Time, featuring CEO Rajesh Vashist and CFO Art Chadwick, who will discuss the results. The call will be accessible to analysts and investors, requiring advanced registration for dial-in participants. SiTime is known for its precision timing solutions, having shipped over 2.5 billion devices and aims to enhance product performance and reliability.

SiTime Corporation (NASDAQ: SITM) announced its collaboration with Tesla on the precision timing solutions for the Dojo System, showcased during AI Day 2022. The partnership focused on addressing unique challenges in dense integration design for the Dojo power module, which required advanced clocking technology and system-level expertise. SiTime engineers provided innovative solutions to ensure high performance and reliability in demanding environments, exemplifying effective collaboration in advancing electronics technology.

SiTime Corporation (NASDAQ: SITM) has introduced a new family of automotive differential oscillators, the SiT9396/7, which enhance the reliability and resilience of Advanced Driver Assistance Systems (ADAS) by 10x. These solutions address safety and performance challenges in harsh conditions, expanding SiTime's served available market by $50 million. The ADAS market is projected to grow from $15.4 billion in 2022 to $28.6 billion by 2027. The SiT9396/7 oscillators are designed for high performance and stability, making them a crucial component for automotive OEMs and Tier 1 suppliers.

SiTime Corporation (SITM) reported strong Q2 2022 financial results, achieving net revenue of $79.4 million, a 78.5% increase year-over-year and a 13.0% rise from Q1 2022. Gross margins stood at 66.3%, with operating expenses at 50.9%. GAAP net income was $12.9 million, or $0.57 per diluted share. Non-GAAP figures showed net income of $25.3 million, or $1.11 per diluted share. SiTime maintains $580.3 million in cash and equivalents. The company also announced RSUs for 34 new hires as part of its Inducement Award Plan.

SiTime Corporation (NASDAQ: SITM) has launched SiTimeDirect, an online store for customized precision timing solutions, delivering products in as little as 48 hours. Amid global semiconductor shortages, SiTimeDirect offers access to over 150 billion configurations, allowing engineers to configure parts with specific timing specifications.

This initiative aims to accelerate product launches for electronics companies, enabling rapid shipment for quantities ranging from one to 5,000 units. The service enhances customer support and streamlines the ordering process.