Overview
SiTime Q2 revenue rises 58% yr/yr, beating analyst expectations, per LSEG data
Company reports GAAP net loss of $20.2 mln, or $0.84 per share
Revenue growth driven by AI demand in Communications, Enterprise, and Data Center market
Outlook
Company to discuss business outlook in scheduled conference call
Result Drivers
AI DEMAND - Revenue from Communications, Enterprise, and Data Center market grew 137% yr/yr, driven by AI demand for Precision Timing solutions
HIGH PERFORMANCE FOCUS - CEO Rajesh Vashist attributes continued momentum to focus on high performance applications
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
$69.49 mln
$64.70 mln (6 Analysts)
Q2 EPS
-$0.84
Q2 Net Income
-$20.18 mln
Q2 Gross Profit
$36.05 mln
Q2 Operating Income
-$24.61 mln
Q2 Pretax Profit
-$20.14 mln
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 1 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the semiconductors peer group is "buy"
Wall Street's median 12-month price target for SiTime Corp is $230.00, about 14% above its August 5 closing price of $197.73
The stock recently traded at 91 times the next 12-month earnings vs. a P/E of 81 three months ago
Press Release: ID:nBwZNy1Ha
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)