SiTime Corporation Joins the S&P MidCap 400 Index

Rhea-AI Summary

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.

Positive

• Inclusion in the S&P MidCap 400 Index, indicating strong market position.
• Significant growth since IPO in late 2019.
• Expansion in the $8 billion timing market.
• Aggressive customer acquisition strategy expected to deliver long-term results.

Negative

• None.

SANTA CLARA, Calif., Nov. 30, 2021 (GLOBE NEWSWIRE) -- SiTime Corporation (Nasdaq: SITM), a leader in MEMS timing, welcomed the company’s addition to the S&P MidCap 400® Index, effective today, Tuesday, November 30, 2021.

“SiTime has continued to achieve tremendous growth since our IPO in late 2019,” said Rajesh Vashist, chief executive officer and chairman of the board at SiTime. “The company’s addition to the S&P MidCap 400 is an exciting milestone that reflects the remarkable accomplishments of our dedicated team and accelerating penetration of the $8 billion timing market. We have entered a new phase of growth that is supported by a combination of rapid product portfolio expansion and an aggressive customer acquisition strategy that, we expect, will continue delivering results to our shareholders for years to come.”

Originally launched in June 1991, the S&P 400 is composed of 400 companies across 11 sectors as defined by the Global Industry Classification Standard (GICS®) and designed to measure the mid-cap segment of the market. SiTime joins the index as the newest member of the Information Technology sector.

About S&P DOW JONES INDICES

S&P Dow Jones Indices is the largest global resource for essential index-based concepts, data and research, and home to iconic financial market indicators, such as the S&P 500® and the Dow Jones Industrial Average®.

S&P Dow Jones Indices is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for individuals, companies, and governments to make decisions with confidence. For more information, visit www.spdji.com.

About SiTime

SiTime Corporation is a market leader in silicon MEMS timing. Our programmable solutions offer a rich feature set that enables customers to differentiate their products with higher performance, smaller size, lower power, and better reliability. With over 2 billion devices shipped, SiTime is changing the timing industry. For more information, visit www.sitime.com.

Investor Relations Contacts:

Shelton Group
Leanne Sievers | Brett Perry
949-224-3874 | 214-272-0070
sheltonir@sheltongroup.com

SiTime Corporation
Art Chadwick
Chief Financial Officer
investor.relations@sitime.com

FAQ

When did SiTime join the S&P MidCap 400 Index?

SiTime joined the S&P MidCap 400 Index effective November 30, 2021.

What is the significance of SiTime being included in the S&P MidCap 400?

Being included in the S&P MidCap 400 signifies SiTime's strong growth and market position, enhancing its visibility to investors.

What strategies is SiTime employing for future growth?

SiTime is focusing on rapid product portfolio expansion and an aggressive customer acquisition strategy.

How has SiTime performed since its IPO?

SiTime has experienced tremendous growth since its IPO in late 2019.

What market does SiTime operate in?

SiTime operates in the $8 billion MEMS timing market.