Semiconductor firm SiTime slips after $350 mln stock sale unveiled

SiTime

24/06/2025 22:31

**  SiTime's SITM.O shares down 3.6% post-market to $233 as co seeks equity raise

** Silicon timing systems maker launches $350 mln stock offering

** Co plans to use net offering proceeds for general purposes, including 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 SITM has 23.7 mln shares outstanding for ~$5.7 bln market cap

** SITM shares finished session on Tues up 4% at $241.60

** Stock has risen 58% QTD, putting them up about 13% YTD

** Of 7 analysts covering SITM, recommendation breakdown is 5 "strong buy" or "buy",  1 "hold" and  1 "sell" rating; median PT is $230 - latest LSEG data reflects

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

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