Semiconductor firm SiTime stabilizes after $350 mln stock sale

SiTime

26/06/2025 13:18

**  SiTime's SITM.O shares trading around the flat line before the bell after silicon-based timing components maker's follow-on prices

        ** Santa Clara, California-based firm early Thurs said sold 1.75 mln shares at $200 for $350 mln gross proceeds

        ** Offering price is 1.8% discount to stock's last close

        ** SITM shares on Weds fell nearly 16% to $203.75 after co launched the offering late Tues

** Co 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 and Goldman Sachs

    ** Co has 23.7 mln shares outstanding for $4.8 bln market cap

    ** Through Weds,
    SITM off 5% YTD, including 33% gain this quarter

    ** Avg rating among
    7 analysts is "buy" and median PT is $230, LSEG data reflects

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

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