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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) has been added to the S&P MidCap 400 Index, effective November 30, 2021. This milestone reflects the company's substantial growth since its IPO in late 2019 and positions it among leading mid-cap firms in the Information Technology sector. CEO Rajesh Vashist highlighted the achievement as a testament to their team’s efforts and the ongoing expansion within the $8 billion timing market. SiTime continues to enhance its product portfolio and customer acquisition strategy, anticipating sustained shareholder value.
SiTime Corporation (Nasdaq: SITM) announced its inclusion in the S&P MidCap 400® Index, effective November 30, 2021. This marks a significant milestone for SiTime as it solidifies its position in the market for MEMS timing solutions. The company is noted for its innovative programmable solutions that enhance product performance, size, power efficiency, and reliability. With over 2 billion devices shipped, SiTime is reshaping the timing industry. This index addition may attract more investor attention and credibility in the financial markets.
SiTime Corporation (Nasdaq: SITM) announced the completion of its public offering of 2,300,000 common stock shares at $225.00 per share, raising approximately $279 million net after expenses. The offering included the full exercise of underwriters' options, with MegaChips Corporation selling 1,000,000 shares and SiTime issuing 1,300,000 shares. Major underwriters included Barclays, Credit Suisse, and Stifel. This robust financing is set to support SiTime's strategic growth in the silicon MEMS timing market, where it leads with programmable solutions.
SiTime Corporation (Nasdaq: SITM) has announced a follow-on public offering of 2,000,000 shares of common stock, priced at $225.00 per share. The offering includes 1,000,000 shares from MegaChips Corporation and 1,000,000 new shares. SiTime will not receive proceeds from the MegaChips sale, but expects gross proceeds of $225 million from its shares. The offering is set to close on November 12, 2021. Underwriters have an option to purchase an additional 300,000 shares. Barclays, Credit Suisse, and Stifel are the lead managers for this offering.
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.
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