SiTime
SiTime makes the tiny timing chips that keep data-centre links, phones and cars in step, built in silicon where most rivals still use quartz crystals.
The scores
Growth3/4 ↑
Revenue up 127% in June on AI optics, but part of the next leg is bought, and 2023 fell 49%.
Business quality3/4 ↑
Sole volume MEMS timing maker with rising prices and long design-ins, but TI's BAW parts now chase the same sockets.
Financial position3/4 ↓
Net debt near $0.93B after the deal, but the notes pay nothing until 2031 and operations fund themselves.
Execution record3/4 →
Beat its own guides through the recovery and raised gross margin 8.9 points, but missed the 2023 inventory turn.
Per share capture2/4 ↓
Shares up 27% in 18 months, and stock pay near a fifth of revenue sits outside adjusted EPS.
Potential2/4 ↑
Optics growing 65% a year and a $450M module market, but sized by the seller and bought on cancellable orders.
Risk profile3/4 →
Three distributors take two thirds of sales and one Bosch fab makes the MEMS, but no single buyer dominates.
Valuation2/4 ↑
14 times run-rate sales still pays for the 30% plan for years, above what 2027 consensus models.
Evidence quality3/4 →
Revenue, margins, the deal and the debt are filed; the end-market split, market size and order book are management's.
The Verdict
We rate SiTime neutral. Its silicon timing chips are hard to replace once designed in and sales more than doubled on AI networking, but new shares and deal costs leave owners a mixed business rather than a strong one. The price is full: it assumes about 30% growth a year for several years, so a slowdown would hurt. There is no speculative bet here. The view hinges on whether buyers ordering a year ahead reflect real demand or stockpiling, the pattern that came before sales fell by half in 2023.
The long caseAI data centres add faster optical links, each needing more precise timing; SiTime must see that demand prove to be real use rather than customers stockpiling.
The evidence under this - 7 claims
- The same lock-in protects the quartz incumbents in every socket SiTime has not yet won, and TI's BAW parts and quartz oscillators are pin-compatible in many standard packages (C23).
- In 2023 the lock-in did not stop revenue falling 49% (C14): it protects share, not volume.
- On trailing GAAP figures the multiple is far higher: the pack reads 40 times trailing sales on the old share count, and pro forma 2025 was a $217.1M loss (C34).
- Run-rate is flattering in a growth year: a single strong quarter annualised overstates a year if the third quarter is a peak.
- 2026-10-22editedre-struck at the 2026-10-21 close of $509.20 (from $709.44) on the daily review's maintenance route -- drift -28.2%, past the 12% trigger. Guided sales, net debt, share count and 2027 consensus EPS held as struck on 2 October; no new print or filing since.
- Management says channel inventory is at tight target levels with strong pull-through, which the 2022 build-up did not have (S05).
- This time the growth is spread across all three end markets and the acquired business, not one shortage (C04, C07).
The 2025 share sale raised $433.1M at a fraction of today's price and funded the deal without more stock; the convertible's capped call offsets dilution up to $1,734.15.
The company
Every chip needs a clock: a part that ticks at an exact rate so data moves in step. For decades that part was a sliver of quartz crystal. SiTime makes it from silicon instead, using tiny vibrating structures called MEMS, which tolerate heat, shaking and small spaces better.
It designs the chips and pays others to make them: Bosch and Teledyne make the silicon parts, TSMC and UMC the circuits. Buyers are makers of optical network modules, phones, cars and factory gear, mostly through distributors.
The evidence under this - 3 claims
How it makes money
SiTime sells parts by the piece. A buyer designs a SiTime clock into a product, then orders it for every unit built, for years. Most orders go through three distributors, which took 66% of sales in the June quarter, and buyers can cancel them with little notice.
Data-centre and network parts were $101M of June's $157.4M. Each sales dollar left about 67 cents after the cost of making the part, on the company's adjusted measure.
The evidence under this - 4 claims
The split is given on the call and not filed; the 10-Q reports one segment, so these figures cannot be checked against a filing.
Where the money comes from, stream by stream
| Stream | Share of sales (Q2 2026) | How it earns it |
|---|---|---|
| Communications, enterprise and data centre | 64% | MEMS oscillators, clocks and resonators for optical modules, switches, servers and network gear, mostly through distributors. |
| Mobile, IoT and consumer | 20% | Small resonators and oscillators for phones, wearables and devices; one large consumer customer was $22.8M of it. |
| Automotive, industrial and defence | 16% | Rugged oscillators qualified for cars, factories and aerospace, where parts ship for a decade once designed in. |
| Acquired Renesas timing business | about 29% of the September guide | Over 550 clock products, mostly for data-centre and communications buyers, made by Renesas under a transition agreement. |
Who runs it
Rajesh Vashist has run SiTime since 2007 and Elizabeth Howe its finances since 2023. Insiders own only about 1%; two big fund managers, an early backer and now Renesas each own far more. Most of the yearly bonus rides on sales growth and the performance shares on beating other chip stocks, while nothing pays on profit or on how much each share earns.
The evidence under this - 3 claims
MegaChips sold 400,000 shares in May 2026 and the chief executive sold 12,000 in September (C34), and the Renesas issue enlarged the count, so every percentage is now lower.
- The 2025 revenue goal of $283.0M sat below 2022's $283.6M (C14), and no metric pays on GAAP profit, cash or per-share results, so the dilution in C11 costs the plan nothing.
- Above-target payout is capped at 150% if non-GAAP operating income is zero or less.
Why it wins, and who could beat it
Why customers come back
Choosing a clock takes a buyer six months to three years of design and testing. Once chosen, it stays for the product's life, often ten years, because swapping it means testing the whole board again. Car makers must formally requalify a part whenever its supplier changes it.
So SiTime wins share when new products are designed, not by cutting prices. The proof is that its prices rose: the cut it keeps from each sales dollar went from 58 cents to 67 cents in a year.
The evidence under this - 4 claims
- The same lock-in protects the quartz incumbents in every socket SiTime has not yet won, and TI's BAW parts and quartz oscillators are pin-compatible in many standard packages (C23).
- In 2023 the lock-in did not stop revenue falling 49% (C14): it protects share, not volume.
The threat
Quartz makers in Taiwan and Japan, such as TXC and Seiko Epson, still sell most of the world's timing parts. The newer threat is Texas Instruments, which sells a non-quartz clock using a different vibrating technology aimed at the same high-speed sockets. Skyworks, Diodes and Microchip also sell timing, though for each it is a small side line.
The evidence under this - 3 claims
The rivals: TXN, SWKS, DIOD, MCHP, and 1 more that is private, in-house or listed abroad.
Who else does this, rival by rival
| Ticker | Rival | Where it competes | How far along | Priced against it |
|---|---|---|---|---|
| TXC, Seiko Epson and Nihon Dempa Kogyo quartz oscillatorsPriced against it: Listed abroad | SiTime products (MEMS resonators, oscillators and clocks) | On sale | Listed abroad | |
| TXN | Texas Instruments LMK6 bulk-acoustic-wave oscillatorsPriced against it: Different product | SiTime products (MEMS resonators, oscillators and clocks) | On sale | Different product |
| SWKS | Skyworks timing (the former Silicon Labs clock and oscillator line)Priced against it: Small part of it | Timing Products Division (acquired from Renesas) | On sale | Small part of it |
| DIOD · MCHP | Diodes and Microchip crystals, oscillators and timing chipsPriced against it: Small part of it | Timing Products Division (acquired from Renesas) | On sale | Small part of it |
How big it could get
How big this could get
The fastest-growing market is optical modules, the parts that carry data between AI servers as light. An industry research firm, LightCounting, measured that market up 93% in 2024 and forecasts 65% growth in 2026.
SiTime puts its own slice of it, timing inside the fastest modules, at $450M in 2027. That is the seller's estimate. With the Renesas business, SiTime is selling at about $1.16B a year today.
The evidence under this - 4 claims
The own-product guide of $200M to $210M is a 30% rise in one quarter, the largest in the company's record; the 2022 quarters before the 2023 fall also rose on customer orders placed far ahead (C14).
No outside body publishes timing content per module or per rack; the figures are the seller's, and the share is not quantified.
Who has signed
Almost nothing is signed. Apple, 17% of 2025 sales, buys under an agreement that sets terms but promises no volume. Everyone else orders piece by piece on orders they can cancel, and a deal to put SiTime's parts into Renesas's chips is still only being explored.
The evidence under this - 3 claims
Where the growth is coming from, business by business
Where the growth is coming from
| Business | Share of revenue | Growth: last quarter | Last half-year | Last year | Share in 3 years at its half-year rate |
|---|---|---|---|---|---|
| Reportable Segment | 100% | +126.5% | +108.8% | - | 100% |
| Whole company | 100% | +126.5% | +108.8% | - | 100% |
On the filed split through 2026-06-30, if each business keeps its last half-year's growth, the company grows about 109% next year and 109% in year 3, against 83.0% over the last twelve months. A scenario, not a forecast: no business holds its rate.
How we read it: Neither: the 108.8% blend extrapolates one AI-driven quarter, and the score reads the 30% path management gives, which consensus already models.
The results
The numbers
Sales grew 83% over the twelve months to Jun 2026, faster than the 61% in the year to Dec 2025.
Operating margin is −3.9%, up from −74% in the year to Dec 2023.
Running costs take 63¢ of each sales dollar, up from 49¢ in the year to Dec 2021.
The capital put into the business loses 1.7% a year after tax, down from 8.8% in the year to Dec 2021.
It turned 18% of sales into free cash, $84.5M over the last twelve months.
Yearly sales growth has ranged from −49% to +88% over the last 5 years, with sales falling in 1 of them.
The share count rose 30% in 4.5 years, and pay in shares costs 24% of sales.
All the numbers
Filed figures from the company's 10-K and 10-Q, read 2026-10-04. Fiscal years end in December.
| Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 | 12 mo to Jun 2026 | |
|---|---|---|---|---|---|---|
| Size and growth | ||||||
| Sales | $219M | $284M | $144M | $203M | $327M | $468M |
| Sales growth | +88% | +30% | −49% | +41% | +61% | +83% |
| Profit | ||||||
| Gross margin | 64% | 65% | 57% | 52% | 54% | 59% |
| Operating margin | 15% | 5.7% | −74% | −57% | −21% | −3.9% |
| Net margin | 15% | 8.2% | −56% | −46% | −13% | 3.0% |
| What growth costs, per sales dollar | ||||||
| Research and development | 24% | 32% | 68% | 53% | 36% | 27% |
| Selling, general and admin | 25% | 27% | 58% | 50% | 36% | 31% |
| Pay in shares | 14% | 20% | 53% | 46% | 32% | 24% |
| Capital spending | 14% | 11% | 6.2% | 18% | 16% | 9.2% |
| Cash | ||||||
| Cash from operations | $59.1M | $39.8M | $8.06M | $23.2M | $87.2M | $128M |
| Free cash flow | $28.2M | $7.96M | −$889K | −$13.0M | $35.1M | $84.5M |
| Returns and shares | ||||||
| Return on capital | 8.8% | 2.4% | - | - | - | −1.7% |
| Shares (diluted) | 21.1M | 22.7M | 22.2M | 23.1M | 25.0M | 27.5M |
What growth costs
Growth is making SiTime more profitable again: since the 2023 slump, sales have tripled while research and selling costs grew far less. But those costs are still a bigger slice of each sales dollar than in 2021, and a sales drop would reverse the gain, as 2023 showed.
The evidence under this - 2 claims
- Every line is still above its 2021 share of sales, and GAAP operating margin over the year to June 2026 was minus 3.9% against plus 15.0% in 2021.
- In 2023, when revenue fell 49% (C14), R&D rose to 67.8 cents per sales dollar, so the leverage runs both ways.
The last report (5 Aug)
Quarter ended June 2026, filed figures.
In the June 2026 quarter, the last before the Renesas business joined, sales rose 127% to $157.4M. Data-centre and network parts rose 181%, so AI networking did most of the work.
It also kept more of each dollar: about 67 cents after making the part, up from 58 a year earlier. Reported profit was much smaller than the adjusted figure, because stock paid to staff counts as a cost there.
For the September quarter, the first with Renesas's business, it guided sales of $285M to $295M.
What it did to the thesisIt proved the AI demand and the pricing power are real, and showed the margin still rising. It left open the central question: whether buyers ordering a year ahead are building products or building stockpiles.
The quarter in detail
Sales growth from the previous quarter, filed figures.
Earnings per share $2.34 against $1.95 expected; $0.66 as filed, the gap being what the company adds back.
The evidence under this - 4 claims
The split is given on the call and not filed; the 10-Q reports one segment, so these figures cannot be checked against a filing.
The own-product guide of $200M to $210M is a 30% rise in one quarter, the largest in the company's record; the 2022 quarters before the 2023 fall also rose on customer orders placed far ahead (C14).
What management did with the money
Management bought Renesas's timing business for about $4.0B, paying $1.50B in cash and 3.56M new shares. To fund it, SiTime borrowed $1.35B through bonds that pay no interest but can turn into shares above $1,040 each.
Insiders in 2026Q3: 2 purchases and 16 sales, from their Form 4 filings.
The evidence under this - 3 claims
The price, and where we disagree
In short. Full. The price pays for growth near 30% a year for several more years, more than analysts' own forecasts for 2027 yet assume.
The shares rose 139.9% in the year to 2 October, and more than half of that came from buyers paying more for each dollar of sales rather than from sales themselves. They have since fallen 28% with no news of the company.
On 4 November SiTime reports its first quarter with the Renesas business inside, which tests whether the combined company grows as guided. In February 2027 its wafer agreement with Bosch, the only maker of its silicon parts, comes up for renewal.
The evidence under this - 4 claims
The own-product guide of $200M to $210M is a 30% rise in one quarter, the largest in the company's record; the 2022 quarters before the 2023 fall also rose on customer orders placed far ahead (C14).
How we read the multiple
Counting its debt, the whole company is valued at about $16.3B. For that to make sense:
- Guided September-quarter sales of $290M, times four, are about $1.16B a year.
- The price is about 14 times that, and about 35 times the adjusted profit those sales earn.
- Analysts expect $14.92 of adjusted profit a share in 2027, barely above today's pace of $14.30.
- So the price assumes growth beyond what even the forecasts include.
Against its own history. Buyers usually paid much less for each dollar of its sales, and the gap is a bet on the AI years lasting.
The evidence under this - 5 claims
- On trailing GAAP figures the multiple is far higher: the pack reads 40 times trailing sales on the old share count, and pro forma 2025 was a $217.1M loss (C34).
- Run-rate is flattering in a growth year: a single strong quarter annualised overstates a year if the third quarter is a peak.
- 2026-10-22editedre-struck at the 2026-10-21 close of $509.20 (from $709.44) on the daily review's maintenance route -- drift -28.2%, past the 12% trigger. Guided sales, net debt, share count and 2027 consensus EPS held as struck on 2 October; no new print or filing since.
Consensus may simply be stale: seven analysts, several of whom had not rebuilt for the acquisition; a refreshed 2027 near $18 would put the multiple near 28.
- 2026-10-22editedre-struck at the 2026-10-21 close of $509.20 (from $709.44) on the daily review's maintenance route -- drift -28.2%, past the 12% trigger. Guided sales, net debt, share count and 2027 consensus EPS held as struck on 2 October; no new print or filing since.
Orders placed 12 to 18 months ahead are cancellable (C13), and the last long-lead ordering in 2021 to 2022 was followed by a 49% fall (C14).
The own-product guide of $200M to $210M is a 30% rise in one quarter, the largest in the company's record; the 2022 quarters before the 2023 fall also rose on customer orders placed far ahead (C14).
Priced against its rivals
None of the listed rivals above sells the same thing to the same buyers as a large part of what it does. Skyworks Solutions, Diodes Incorporated and Microchip Technology Incorporated do too, but as a small part of much bigger companies, so their price says little about this one. A price comparison needs at least two, so the price is judged against its own history instead.
Private or foreign rivals that cannot be priced: TXC Corporation, Seiko Epson Corporation, Nihon Dempa Kogyo Co., Ltd., Daishinku Corp., Kyocera Corporation, Murata Manufacturing Co., Ltd., Rakon Limited, Abracon, LLC, Renesas Electronics Corporation.
Where we disagree with the market
SiTime is a scarce AI winner, replacing quartz in every network link, with Renesas making it the whole timing supplier.
The franchise is real. The price already assumes the year-ahead orders are all real demand.
In 2021 buyers also ordered far ahead during a chip shortage. The shares then fell 73%, and in 2023 sales fell 49% as customers used up their stockpiles. Today's orders are again long and cancellable.
The evidence against us: own-product sales that keep rising every quarter through 2027 with the margin holding would show the demand is end use.
What analysts say, and the evidence
The evidence under this - 6 claims
Orders placed 12 to 18 months ahead are cancellable (C13), and the last long-lead ordering in 2021 to 2022 was followed by a 49% fall (C14).
- Management says channel inventory is at tight target levels with strong pull-through, which the 2022 build-up did not have (S05).
- This time the growth is spread across all three end markets and the acquired business, not one shortage (C04, C07).
Consensus may simply be stale: seven analysts, several of whom had not rebuilt for the acquisition; a refreshed 2027 near $18 would put the multiple near 28.
- 2026-10-22editedre-struck at the 2026-10-21 close of $509.20 (from $709.44) on the daily review's maintenance route -- drift -28.2%, past the 12% trigger. Guided sales, net debt, share count and 2027 consensus EPS held as struck on 2 October; no new print or filing since.
What could go wrong, and how we would know
The risks
- Stockpiling, again Buyers order 12 to 18 months ahead on cancellable orders; if supply catches up they could stop ordering, as in 2023.
- One wafer maker Bosch makes most of its silicon parts under an agreement ending February 2027; a worse renewal would hit costs or supply.
- Owners' share shrinks Shares outstanding rose 27% in 18 months, and adjusted profit leaves out stock pay and about $230M a year of deal costs.
- Few distributors Three distributors took 66% of June-quarter sales, so one changing its stock levels moves the quarter.
- The acquired factories Renesas still makes the acquired parts for several quarters and the business is short of supply.
- Insiders selling The chief executive sold 12,000 shares outside a trading plan in September, and no insider bought in a year.
The evidence under this - 8 claims
- Management says channel inventory is at tight target levels with strong pull-through, which the 2022 build-up did not have (S05).
- This time the growth is spread across all three end markets and the acquired business, not one shortage (C04, C07).
The 2025 share sale raised $433.1M at a fraction of today's price and funded the deal without more stock; the convertible's capped call offsets dilution up to $1,734.15.
Management also says the business is beating the $300M first-year figure it gave at announcement; a supply constraint and a beat can both be true.
What we still do not know
- How many timing parts sit in each AI network module or server rack, and at what price; nobody outside the company publishes it.
- Whether Bosch renews the wafer agreement on the same terms in February 2027.
- What the Renesas business earns on its own once it leaves Renesas's factories and shared costs.
- How much of the year-ahead orders is real demand rather than buyers securing scarce parts.
The evidence under this - 5 claims
No outside body publishes timing content per module or per rack; the figures are the seller's, and the share is not quantified.
Management argues timing moves into chiplets and substrates, a $2.5B addition by 2030, which would raise the share (S05).
Management also says the business is beating the $300M first-year figure it gave at announcement; a supply constraint and a beat can both be true.
- Management says channel inventory is at tight target levels with strong pull-through, which the 2022 build-up did not have (S05).
- This time the growth is spread across all three end markets and the acquired business, not one shortage (C04, C07).
What would change our view
- Neutral→AttractiveThe price returns to its usual multiple
It needs:
- ○The whole company's value falls to 12 times its current yearly sales pace, from about 14.about ≈$442.78 today, 38% below the last close
- Neutral→AttractiveSales outrun the path the price assumes
It needs:
- ○Quarterly sales, including the Renesas business, reach $450M.checked at the next results, due by 4 Nov
- Neutral→UnattractiveThe order cycle turns
It needs any of:
- ○The adjusted cut kept from each sales dollar after making the part falls below 63 cents.checked at the next results, due by 4 Nov
- ○Unsold stock rises above $180M while quarterly sales fall.checked at the next results, due by 4 Nov
We would also be wrong if
- Bosch does not renew the wafer agreement on similar terms by February 2027.
- The Renesas business sells less than $75M in a quarter while Renesas still makes its parts.
What is coming
- 4 November 2026 Q3 2026 results: Revenue against the $285M to $295M guide, own products at $200M or more, the acquired business near $85M, gross margin near 68%, and whether December grows again.
Every dated event ahead
- 4 November 2026 Q3 2026 results: Revenue against the $285M to $295M guide, own products at $200M or more, the acquired business near $85M, gross margin near 68%, and whether December grows again.
- February 2027 Bosch MEMS supply agreement reaches the end of its ten-year term: Whether the renewal management called 'zero problems' is filed on similar terms, or the sole MEMS wafer source becomes a negotiation.
- February 2027 Q4 2026 results and the 2026 10-K: Whether orders placed 12 to 18 months ahead hold into 2027, and the first full quarter's amortisation and supply from the acquired business.
- April 2027 2027 proxy statement: What the 2026 bonus and its new above-maximum cash award paid, and whether any metric starts to reward profit or per-share results.
Since we wrote this
- 22 OctPrice movePrice re-struck, -28.2%; view heldNo print or news since 2 October. The company is valued at about 14 times sales rather than 19, still paying for years of 30% growth.
- 5 OctThesis reviewThe long case now sits under the verdictAfter the five-name pilot, the owner asked for the long case on every thesis.
- 4 OctThesis writtenNeutral, medium convictionWritten a month before the first print to include the Renesas clock business, with the shares up 140% in a year.
- 4 OctThesis reviewOwner's checklist: revenue streams, cost of growth, management, catalystsThe owner's checklist found the method silent on who runs the company, what growth costs, where the money comes from and what is dated ahead; this pass fills those four blocks from the proxy and filings.
Also checked 2 times with nothing new to act on.
Sources 17
Sources - 17
Every claim above cites one of these, or states the reasoning that derived it. The quote is frozen at the date it was read: a link can rot, and an agent fetch returns a reading of a page rather than the page. Backs counts the whole claim ledger, so it can name a claim this page does not surface.
- S01primarycompany filing2026-02-11Item 1 (products, MEMS process, foundries, Bosch agreement and licence, competitors), customer and distributor concentration, design cycle, the 2023 inventory adjustmentbacksC01C02C12C14C15C18C22C47C49C50
- S02primarycompany release2026-02-042025 revenue, GAAP and non-GAAP profit, year-end cash
Net revenue for fiscal year 2025 was $326.7 million, an increase of 61% from $202.7 million in fiscal year 2024.
backsC02 - S03primarycompany filing2026-08-06income statement, balance sheet, equity statement, convertible notes and capped call, concentration, cancellable orders, Apple agreement, ASP and mixbacksC03C09C11C12C13C21C40C47C49
- S04primarycompany release2026-08-05the quarter on both bases, the non-GAAP reconciliation, stock pay, the June balance sheet
Q2 Net Revenue Increased 127% to $157.4 Million
backsC03C21C33 - S05primarytranscript2026-08-05Q2 2026 earnings call transcriptthe end-market split, the September guide, management's market sizes and growth path; the questions from Needham, Stifel, UBS, Wolfe, Goldman Sachs and Roth on the acquisition, Bosch and gross margin
For the third quarter, we expect revenue of $285 million to $295 million
backsC04C05C11C16C17C25C27C28 - S06primarycompany filing2026-07-01the price paid, the revolver and its covenants, Renesas's registration rights and board seat, the MEMS memorandum, 550 clock productsbacksC06C09C11C17C25C35C41C43C45
- S07primarycompany filing2026-09-09the acquired business's revenue and direct costs, the purchase-price allocation, the amortisation schedule, the pro forma 2025 lossbacksC06C07C08C33
- S08primaryother2023-03-20AEC-Q200 Rev E, Stress Test Qualification for Passive Components Automotive Electronics Councilthe car industry's rule that changing a qualified component costs the buyer a requalification; quartz crystals carry their own stress table
Requalification of a component or family shall be required when the supplier makes a change to the component or family and/or process that impact the form, fit, function, quality and reliability of the component or family.
backsC19 - S09primaryother2026-10-04a silicon-based, non-MEMS oscillator from a far larger chipmaker, its frequency range and jitter
Low-jitter, high-performance, bulk-acoustic-wave (BAW) fixed-frequency LVCMOS oscillator
backsC23 - S10primarycompany filing2025-11-07a rival's own account of AI demand for precision timingbacksC24
- S11primarycompany filing2026-02-10frequency control products: crystals and crystal oscillators for the same buyersbacksC24
- S12primarycompany filing2026-05-21timing systems as a small unreported linebacksC24
- S13primaryindustry data2026-04LightCounting, April 2026 Market Forecast newsletter LightCountingthe growth of the optical module market SiTime's data-centre timing rides, measured by a tracker with no stake in SiTime; also that demand exceeds supply by 30%
The Ethernet transceiver market was up 93% in 2024 and our latest estimates for 2025 suggest another 82% growth. We now forecast 65% growth for 2026
backsC26 - S14secondaryvendor data2026-10-04Research pack (FMP market tier, FINRA short interest, frozen 2026-10-04)price, range, decomposition, consensus estimates and ratings, short interest, the annual revenue seriesbacksC14C30C31C32C36C43
- S15primarycompany filing2026-09-14every open-market sale and its Rule 10b5-1 flagbacksC34
- S16primarycompany filing2026-04-15executive officers and their start dates, beneficial ownership as of March 30, 2026, the 2025 bonus plan and its revenue goal, the RSU and relative-TSR PRSU grants, the 2026 planbacksC44C45C46
- S17primarycompany filing2023-02-27the 2020 to 2022 income statements: revenue, R&D and selling, general and administrative expensebacksC49