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Why Are SiTime Shares Trading Higher Today?

  • SiTime Corp (NASDAQ: SITMwill be a component of the S&P MidCap 400 Index, effective before the opening of trading on November 30.
  • SiTime is a provider of silicon timing systems solutions. The company designs, develops, and sells silicon timing systems solutions for different industries, including automotive, infrastructure, aerospace-defense, consumer, internet of things, and industrials.
  • SiTime’s Q3 FY21 revenue of $63 million, up 93% year-on-year, beating the consensus of $58.1 million. The adjusted EPS of $1.03 missed the consensus of $1.25.
  • Price Action: SITM shares traded higher by 12.90% at $284.66 in the market session on the last check Tuesday.

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