Semiconductor firm SiTime slides on planned $350 mln equity raise

SiTime

25/06/2025 18:45

**  SiTime's SITM.O shares down 14.1% to $207.42 on Weds after silicon-based timing components maker late Tues launched $350 mln stock offering

** SITM shares on track for biggest one-day pct decline since 19.5% drop on Apr 3

** It intends to use net offering proceeds for working capital, sales and marketing activities, product development, and capex among other purposes, per the prospectus filing

** UBS and Stifel are jt lead bookrunners for offering, joined by Needham

** Santa Clara, California-based SiTime has 23.7 mln shares outstanding for ~$5.7 bln market cap through Tues close

** With move on the session, SITM shares down ~3% YTD but up ~36% this quarter

** Co in early May said Q1 rev grew 83% y/y to $60 mln and posted adj EPS of 26 cents vs loss of 8 cents/sh in yr-ago period. Analysts had expected rev of $54 mln and adj EPS of 12 cents, per LSEG data

** 5 of 7 analysts rate SITM "strong buy" or "buy", 1 rates "hold" and 1 recommends "sell"; median PT is $230 - LSEG

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))