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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) announced that Square (NYSE: SQ) is utilizing the SiT8008 programmable MEMS oscillator in its Square Terminal and Square Register point-of-sale products. The SiT8008 oscillator stands out for delivering 10-100 times better clock stability compared to on-chip oscillators, thanks to its MEMS technology. It offers a wide frequency range, low power consumption, and excellent temperature stability, thus enhancing product reliability and performance. With over 50 applications across various markets, SiTime continues to influence the timing industry.
SiTime Corporation (Nasdaq: SITM) will announce its second quarter 2021 financial results on August 4, 2021, after market close. CEO Rajesh Vashist and CFO Art Chadwick will discuss the results during a conference call at 2:00 p.m. PT. The call will be accessible via audio webcast and archived for 90 days. Participants can join using the provided dial-in numbers and conference ID. SiTime is recognized for its MEMS timing solutions, having shipped over 2 billion devices, focusing on higher performance and reliability.
SiTime Corporation (NASDAQ: SITM) announced that Raytheon Technologies will utilize its Endura™ MEMS oscillators in precision guidance systems. These oscillators are designed for high performance and reliability in harsh aerospace and defense environments, providing enhanced timing stability amid extreme temperatures and mechanical stress. SiTime's Endura MEMS TCXOs offer superior resilience with up to 50x better acceleration sensitivity and conform to military specifications. The collaboration emphasizes SiTime's commitment to meeting the demanding requirements of advanced defense applications.
SiTime Corporation (Nasdaq: SITM) reported Q1 2021 financial results, with net revenue of $35.5 million, reflecting a 63.5% year-over-year increase but a 11.7% decline from Q4 2020. The gross margin was $18.8 million, or 52.9% of revenue, while operating expenses reached $22.3 million, resulting in a GAAP loss from operations of $3.5 million. Non-GAAP results showed net income of $3.8 million, or $0.19 per diluted share. The company ended the quarter with $257 million in cash and equivalents, indicating a solid financial position despite operating losses.
SiTime Corporation (NASDAQ: SITM) has launched the SiT5146 Super-TCXO, which now operates at temperatures as low as -55°C, enhancing its stability for aerospace and defense applications. The device maintains a stability range of ±1 to ±2.5 ppm and is capable of withstanding extreme conditions, making it ideal for low earth-orbit satellites and commercial aircraft. The SiT5146 offers customizable frequencies from 1 MHz to 60 MHz and is available in production quantities, supporting precise timing in challenging environments.
SiTime Corporation (Nasdaq: SITM) will announce its Q1 2021 financial results on May 4, 2021, after market close. A conference call led by CEO Rajesh Vashist and CFO Art Chadwick is scheduled for 2:00 p.m. PT to discuss the results. Investors can join the call via conference dial-in or through a live audio webcast available on the company's website. SiTime is a leader in MEMS timing, focusing on programmable solutions that enhance performance, size, power efficiency, and reliability.
SiTime Corporation (NASDAQ: SITM) has appointed Christine A. Heckart to its Board of Directors, effective April 5, 2021. Heckart brings extensive leadership experience from her previous roles at companies like Cisco and Microsoft, aiming to bolster SiTime's growth in the communications and enterprise markets, which are projected to be pivotal for the company. CEO Rajesh Vashist emphasized that her expertise will aid in transforming the $8 billion timing market, positioning SiTime strategically for future opportunities.
SiTime Corporation (NASDAQ: SITM) has launched a new feature for its SiT8008 low-power MEMS oscillator, enabling operation at any voltage between 1.62V and 3.63V. This feature enhances inventory management and accelerates time to revenue for customers, particularly in industrial and medical applications. The SiT8008 offers millions of programmable configurations and can simplify system design by reducing the need for multiple component qualifications. This product is available through Digi-Key with short lead times, facilitating quicker market entry for customers.
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.
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