SiTime director Katherine Schuelke resigns, board size reduced to eight

SiTime Corporation (NASDAQ:SITM) reported that Katherine E. Schuelke, a Class III director on the company’s board, notified the board on Monday of her intention to resign. The resignation, which also includes her departure from the Nominating and Corporate Governance Committee and the Compensation and Talent Committee, became effective Tuesday.

According to the company’s statement, Ms. Schuelke’s resignation was not the result of any disagreement with the company or its board regarding company operations, policies, or practices.

Following her resignation, the board approved a reduction in its size from nine to eight members, effective Tuesday.

This information is based on a statement included in the company’s filing with the Securities and Exchange Commission.

In other recent news, SiTime Corp. reported a significant increase in its financial performance for Q2 2026, with revenue rising 127% year over year to $157.4 million. The company’s non-GAAP earnings per share reached $2.34, surpassing the forecast of $1.95, as both gross and operating margins showed substantial improvement. SiTime’s acquisition of the Renesas Timing Products Division was completed, enhancing its scale and customer reach. Additionally, Needham has raised its price target for SiTime to $900, citing continued growth driven by the communications, enterprise, and data center sectors. Rosenblatt initiated coverage on SiTime with a buy rating, highlighting the company’s differentiated MEMS technology and opportunities in AI infrastructure. Morgan Stanley reiterated its Overweight rating with a price target of $730, emphasizing the expanding timing opportunity in the market. These developments reflect a period of robust growth and strategic expansion for SiTime.