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SITM — SiTime News Story

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Brief: SiTime Q2 EPS USD -0.84

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

MetricBeat/MissActualConsensus Estimate
Q2 RevenueBeat$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.)

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