Welcome to our dedicated page for SiTime Corporation news (Ticker: SITM), a resource for investors and traders seeking the latest updates and insights on SiTime Corporation stock.
SiTime Corporation (NASDAQ: SITM) is a trailblazer in the domain of silicon-based timing solutions. As the leader in MEMS-based timing, SiTime is fundamentally shifting the timing industry by offering configurable solutions that replace traditional quartz devices. The company's offerings enable customers to enhance their products with the highest performance, smallest size, lowest power consumption, and best reliability in the market.
SiTime's extensive product lineup includes Stratum 3E DCOCXOs, Programmable OCXOs, MHz Oscillators, 32.768 kHz Oscillators, Embedded Resonators, Precision MHz Super-TCXOs, and Ruggedized Oscillators. These products are designed to serve a variety of industries such as automotive, infrastructure, aerospace-defense, consumer electronics, Internet of Things (IoT), and industrials.
With a commanding 90% market share and over 1 billion devices shipped, SiTime's solutions allow customers to streamline their supply chains, thereby lowering costs and accelerating time-to-market. Utilizing standard semiconductor processes and high-volume packaging, SiTime ensures the highest availability and shortest lead times in the industry.
SiTime's influence extends globally, with significant market presence in Taiwan, Hong Kong, the United States, and other regions. The majority of its revenue is generated from Taiwan, highlighting the company’s strong foothold in the international market.
Founded as a wholly-owned subsidiary of MegaChips Corporation (Tokyo Stock Exchange: 6875), SiTime continues to innovate and set new standards in silicon-based timing. Recent achievements and ongoing projects underscore SiTime's commitment to driving the electronics industry towards a future dominated by silicon-based timing solutions.
Investors and stakeholders can stay updated on the company’s progress through regular conference calls and press releases. To participate in the upcoming events or to get in touch with SiTime's Investor Relations team, please refer to the latest updates provided.
SiTime Corporation (Nasdaq: SITM) reported its financial results for Q4 and FY 2022. Q4 net revenue was $60.8 million, a decline of 19.7% from $75.7 million in Q4 2021. However, FY 2022 net revenue rose 29.6% to $283.6 million from $218.8 million in FY 2021. GAAP gross margins for Q4 stood at 62.1%, while FY 2022 gross margins were at 64.5%. The company reported a Q4 net loss of $1.5 million, translating to a loss of $0.07 per diluted share. Conversely, FY 2022 net income reached $23.3 million, or $1.03 per diluted share. Total cash and equivalents totaled $34.6 million, with short-term investments of $529.5 million as of December 31, 2022.
SiTime Corporation (NASDAQ: SITM) has introduced two new Endura™ precision timing oscillator families designed for aerospace-defense applications. These ruggedized devices promise up to 5x better stability and 10x better environmental resilience, making them ideal for harsh conditions. The Endura ultra-stable Super-TCXO® offers ±10 ppb frequency stability, while the low-jitter differential oscillator ensures optimal communication reliability. Both families are currently sampling, with full production expected by March and July 2023. SiTime's innovative technology aims to enhance design simplicity and reduce troubleshooting time for engineers.
SiTime Corporation (Nasdaq: SITM) will release its fourth quarter 2022 financial results on February 1, 2023, after market close. The company’s CEO, Rajesh Vashist, and CFO, Art Chadwick, will host a conference call at 2:00 p.m. PT to discuss these results. Investors and analysts can register for the call to receive dial-in details. SiTime is a leader in precision timing solutions, having shipped over 3 billion devices, and aims to enhance product performance with compact solutions that offer lower power consumption and increased reliability.
SiTime Corp. (NASDAQ: SITM) has launched the Elite RF Super-TCXO, a precision timing platform designed for 5G and satellite communications. This new technology simplifies wireless infrastructure by integrating clocking functions, enhancing bandwidth and reducing latency. The Elite RF is expected to expand SiTime's serviceable addressable market (SAM) by $150 million, addressing applications such as small cells and remote radio units. Additionally, it offers 30x higher reliability and 20x better environmental resilience compared to mini-OCXOs.
SiTime Corporation (NASDAQ: SITM) has announced that AMD is utilizing its MEMS precision timing solutions for the Alveo X3 series network cards, specifically designed for low latency electronic trading. The SiT95145 Cascade clock system on a chip will generate all clocks for the Alveo X3 NIC, enhancing performance for high-speed networks and stock exchanges. The collaboration aims to meet the demands of financial firms needing ultra-low-latency trade execution and risk management. SiTime's technology promises improved reliability and greater design efficiency for clients.
SiTime Corp. (NASDAQ: SITM) has introduced the SiT5503 Elite X™ Super-TCXO, designed to enhance timing performance in data centers and 5G infrastructure. This breakthrough precision timing solution is anticipated to capture $200M of the $1.3 billion market by 2024. It offers features like ±5 ppb stability, a compact size of 7.0 mm x 5.0 mm, and only 110 mW power consumption. The product is available for sampling now, with mass production expected in the first half of 2023.
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.
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