Welcome to our dedicated page for SITIME news (Ticker: SITM), a resource for investors and traders seeking the latest updates and insights on SITIME 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 (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.
SiTime Corporation (NASDAQ: SITM) has launched the Elite X™ Super-TCXO, enhancing timing stability and reliability for edge networks, including data centers and 5G technology. Compared to quartz, the Elite X provides 2x better stability and 30x higher reliability. This new product addresses the growing demand for precise timing in autonomous vehicles and latency-sensitive applications. With features like ±10 ppb frequency stability and a wide operational temperature range, the Elite X aims to improve performance in harsh environments. Volume production is set for Q3 2022.
SiTime Corporation (SITM) reported an impressive financial performance for Q4 and fiscal year 2021. Q4 net revenue reached $75.7 million, up 88.1% from Q4 2020. For the full year, net revenue was $218.8 million, an 88.4% increase year-over-year. Gross margins in Q4 were 68.8% of revenue, while full-year gross margins stood at 63.7%. GAAP net income for Q4 was $19.9 million or $0.90 per diluted share, and for the year, it was $32.3 million or $1.53 per diluted share. Total cash and equivalents at year-end were $559.5 million.
SiTime Corporation (NASDAQ: SITM) has launched its innovative XCalibur™ active resonator, designed to replace traditional quartz crystal resonators and address supply chain issues. This new product leverages programmable semiconductors, enhancing performance and reliability while reducing development time by up to two months across industries like automotive and industrial. The introduction opens a $200 million serviceable addressable market within the $4 billion resonator sector. XCalibur offers 10x better reliability than quartz, simplifying design processes by eliminating frequent testing and re-qualification.
SiTime Corporation (Nasdaq: SITM) will announce its fourth quarter 2021 financial results on February 2, 2022, after market close. The conference call will be hosted by CEO Rajesh Vashist and CFO Art Chadwick at 2:00 p.m. Pacific Time. Analysts and investors can join the call using provided dial-in information. A replay will be available until February 9, 2022. SiTime, a leader in MEMS timing, has shipped over 2 billion devices, offering high-performance, low-power solutions for diverse applications.
FAQ
What is the current stock price of SITIME (SITM)?
What is the market cap of SITIME (SITM)?
What does SiTime Corporation specialize in?
What industries does SiTime Corporation serve?
What types of products does SiTime offer?
How extensive is SiTime's market presence?
What recent achievements highlight SiTime's performance?
How does SiTime ensure product availability and lead times?
Who owns SiTime Corporation?
How can investors stay updated on SiTime's progress?
