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) 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.
SiTime Corporation (Nasdaq: SITM) will release its second quarter 2022 financial results on August 3, 2022, after market close. The CEO, Rajesh Vashist, and CFO, Art Chadwick, will hold a conference call at 2:00 PM PT to discuss these results. Investors are encouraged to register for the call using provided links. SiTime is a leader in precision timing solutions, having shipped over 2 billion devices, aiming to enhance performance and reliability across various applications.
SiTime Corporation (Nasdaq: SITM) reported strong financial results for the first quarter ended March 31, 2022, with a net revenue of $70.3 million, representing a significant 97.7% increase year-over-year, although down 7.2% from the previous quarter. GAAP net income was $6.1 million or $0.27 per diluted share. Non-GAAP results showed even stronger metrics with net income at $21.3 million and $0.94 per diluted share. The company's cash reserves stood at $571.5 million. Additionally, SiTime granted 92,846 RSUs to new employees as part of its Inducement Plan.
SiTime Corporation (NASDAQ: SITM) announced that Cadence Design Systems will utilize its MEMS timing solutions for the Palladium Z2 Enterprise Emulation and Protium X2 Prototyping platforms. This partnership is expected to enhance Cadence's production capabilities as their components require high precision and rapid scaling. Cadence praised SiTime's timing solutions for meeting stringent technical demands, which reflects SiTime's strong supply chain advantage and product reliability.
SiTime Corporation (SITM) will release its first quarter 2022 financial results on May 4, 2022, after market close. The announcement will be followed by a conference call at 2:00 p.m. PT, hosted by CEO Rajesh Vashist and CFO Art Chadwick. Analysts and investors can join the call by dial-in or through a live audio webcast, which will be available for 90 days on the company's investor relations website. SiTime is recognized for its MEMS precision timing solutions and has shipped over 2 billion devices, contributing to significant advancements in the timing industry.
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