Description

SiTime Corporation: Initiation Of Coverage – Is The Growth From AI & Data Center Markets Here To Stay?

This is our first report on silicon timing systems provider, SiTime Corporation. The company’s fourth[1]quarter revenue figures were $42.4 million, with non-GAAP gross margins at 58.3%. The increase in non-GAAP EPS to $0.24 per share (from $0.06 in Q3) suggests that SiTime continues to see profit growth. However, the company also confronted the challenge of market fluctuations and inventory buildups impacting its revenue. 2023 saw declining revenue in the first half due to overordering at customer business locations, leading to weak market demand. However, the second half saw a sequential improvement, with channel inventories being consumed and some markets like the consumer and data center witnessing a resurgence.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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