SITIME CORP Stock Price, News & Analysis

SiTime Corporation (Nasdaq: SITM) announced a proposed follow-on public offering of 2,000,000 shares of common stock, with 1,000,000 shares being sold by MegaChips Corporation and 1,000,000 shares being issued by SiTime. The underwriters will also receive a 30-day option to purchase an additional 300,000 shares. SiTime will not benefit financially from the shares sold by MegaChips. The offering is subject to market conditions, and the exact terms are yet to be finalized. Barclays, Credit Suisse, and Stifel serve as joint lead book-running managers for this offering.

SiTime Corporation (Nasdaq: SITM) reported impressive financial results for Q3 2021, with net revenue of $63.0 million, marking a 92.9% increase from Q3 2020 and a 41.7% increase from Q2 2021. The company achieved gross margins of 66.2% and GAAP net income of $14.0 million, or $0.66 per diluted share. Non-GAAP metrics showed an even stronger performance, with net income of $21.9 million, or $1.03 per diluted share. SiTime ended the quarter with $267.0 million in cash and cash equivalents.

SiTime Corporation (Nasdaq: SITM) will release its third quarter 2021 financial results on November 3, 2021, after the market closes. The announcement will be followed by a conference call at 2:00 p.m. PT, hosted by CEO Rajesh Vashist and CFO Art Chadwick. Investors can access the live audio webcast on the company’s investor relations website, and a replay will be available until November 10, 2021.

SiTime is a leader in silicon MEMS timing, shipping over 2 billion devices and offering solutions that enhance performance and reliability.

SiTime Corporation (NASDAQ: SITM) has launched the SiT3901 µPower digitally controlled MEMS oscillator, targeting power-sensitive mobile and IoT applications. This new technology enhances wireless charging speeds by 25% and reduces the timing solution area by 90%. The SiT3901 is designed for wearables and smart IoT devices, consuming 90% less power than traditional quartz oscillators. It offers features such as low current consumption, a wide frequency range, and high stability over temperature, positioning SiTime as a leader in innovative timing solutions.

SiTime Corporation (NASDAQ: SITM) has launched the Timing Essentials Learning Hub, an online platform aimed at enhancing customer engagement and providing extensive knowledge on electronics timing. The hub offers various educational courses, from basic to advanced levels, designed for engineers to improve their skills and create superior electronics. With on-demand and live classes, the hub also accommodates tailored curricula for development programs, ensuring a comprehensive learning experience.

SiTime Corporation (Nasdaq: SITM) reported strong financial results for Q2 2021, achieving $44.5 million in net revenue, reflecting a 107.2% increase year-over-year and a 25.2% rise from Q1 2021. Gross margins stood at 60.3%, with GAAP net income of $2.0 million or $0.10 per diluted share. Non-GAAP metrics showed even stronger performance, with net income of $9.6 million or $0.46 per diluted share. The company had total cash and cash equivalents of $253.5 million as of June 30, 2021.

SiTime Corporation (NASDAQ: SITM) announced that Square (NYSE: SQ) is utilizing the SiT8008 programmable MEMS oscillator in its Square Terminal and Square Register point-of-sale products. The SiT8008 oscillator stands out for delivering 10-100 times better clock stability compared to on-chip oscillators, thanks to its MEMS technology. It offers a wide frequency range, low power consumption, and excellent temperature stability, thus enhancing product reliability and performance. With over 50 applications across various markets, SiTime continues to influence the timing industry.

SiTime Corporation (Nasdaq: SITM) will announce its second quarter 2021 financial results on August 4, 2021, after market close. CEO Rajesh Vashist and CFO Art Chadwick will discuss the results during a conference call at 2:00 p.m. PT. The call will be accessible via audio webcast and archived for 90 days. Participants can join using the provided dial-in numbers and conference ID. SiTime is recognized for its MEMS timing solutions, having shipped over 2 billion devices, focusing on higher performance and reliability.

SiTime Corporation (NASDAQ: SITM) announced that Raytheon Technologies will utilize its Endura™ MEMS oscillators in precision guidance systems. These oscillators are designed for high performance and reliability in harsh aerospace and defense environments, providing enhanced timing stability amid extreme temperatures and mechanical stress. SiTime's Endura MEMS TCXOs offer superior resilience with up to 50x better acceleration sensitivity and conform to military specifications. The collaboration emphasizes SiTime's commitment to meeting the demanding requirements of advanced defense applications.