SITIME CORP Stock Price, News & Analysis

SiTime Corporation (Nasdaq: SITM) has announced a follow-on public offering of 3,000,000 shares at $127.00 each, totaling gross proceeds of approximately $190.5 million. The offering includes 1,500,000 shares from MegaChips Corporation and 1,500,000 newly issued shares from SiTime. The company will not receive proceeds from MegaChips' sale. The offering is set to close on February 22, 2021, pending customary conditions. SiTime has also granted underwriters a 30-day option to purchase an additional 450,000 shares.

SiTime Corporation (Nasdaq: SITM) announced a public offering of 3,000,000 shares of common stock, split evenly between 1,500,000 shares sold by MegaChips Corporation and 1,500,000 shares issued by SiTime. The company may grant underwriters a 30-day option to purchase an additional 450,000 shares. SiTime will not receive any proceeds from the shares sold by MegaChips. The offering is subject to market conditions and does not guarantee completion. Barclays, Credit Suisse, and Stifel are joint lead managers for the offering.

SiTime Corporation (SITM) reported strong financial results for Q4 and fiscal year 2020. Q4 net revenue reached $40.3 million, a 43.4% increase from $28.1 million in Q4 2019. For the full year, net revenue was $116.2 million, up 38.2% from $84.1 million in 2019. Gross margins for Q4 were 52.3%, while the fiscal year saw a gross margin of 49.9%. Q4 net income stood at $2.0 million or $0.10 per diluted share. Non-GAAP results showed even stronger performance with net income of $8.3 million or $0.43 per diluted share.

SiTime Corporation (NASDAQ: SITM) has unveiled the SiT5008, a temperature-compensated MEMS oscillator designed for connected consumer and IoT devices. This product boasts improved frequency stability, achieving accuracy of ±2 ppm to ±10 ppm, and operates efficiently at a low power consumption of 3.5 mA. The SiT5008, available in a compact package, supports any frequency between 10 MHz and 60 MHz, with a swift two-month development period attributed to advanced algorithms and automation investments. SiTime aims to enhance its product offerings through rapid development strategies.

SiTime Corporation (NASDAQ: SITM) announced that ADT's CellBounce division selected its SiTime Elite Platform Super-TCXO for a certified 3G-to-4G conversion solution on the AT&T network. The Super-TCXOs provide ±250 ppb frequency stability over ten years, significantly enhancing performance and reducing operational costs. This transition facilitates easy upgrades for home security systems as 3G technology sunsets, enabling continued connectivity for users. SiTime aims to address timing challenges in the telecom sector amidst the shift to faster 5G networks.

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.