On August 6, SiTime Corp surged 33.98% overnight, trading at $727.69 per share.

On the news front, the company reported Q2 adjusted earnings of $2.34 per diluted share, far exceeding the analyst consensus estimate of $1.95 and representing a 398% year-over-year increase from $0.47 in the prior-year period. Revenue for the quarter ended June 30 reached $157.4 million, surpassing expectations of $146.5 million and reflecting a 126% year-over-year surge from $69.5 million.

The blowout results come on the heels of SiTime's July 1 closure of its acquisition of Renesas Electronics' timing business, which is estimated to generate at least $300 million in annual revenue. The company stated the deal will accelerate its path to $1 billion in revenue. SiTime also secured a $200 million senior secured revolving credit facility to support its expansion. During the regular session on August 5, the stock had declined 5.04% on pre-earnings uncertainty and profit-taking, but the after-hours and overnight rally more than reversed that loss.

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