SiTime Corporation completed a public offering of 2,012,500 shares, raising approximately $387.4 million at $200 per share.
Quiver AI Summary
SiTime Corporation has successfully completed a follow-on public offering of 2,012,500 shares of its common stock at a price of $200.00 per share, raising approximately $387.4 million in net proceeds after expenses. The offering included the full exercise of underwriters' options and was managed by UBS Investment Bank and Stifel, with Needham & Company and Goldman Sachs as joint book-running managers. A registration statement for this offering was previously filed with the SEC and became effective upon filing. SiTime, recognized for its precision timing technology, offers semiconductor MEMS programmable solutions that enhance product performance, size, power efficiency, and reliability.
Potential Positives
- SiTime Corporation successfully completed a follow-on public offering of 2,012,500 shares, raising approximately $387.4 million in net proceeds, which strengthens its financial position.
- The successful completion of the offering indicates strong investor confidence in SiTime, as evidenced by the full exercise of the underwriters’ option to purchase additional shares.
- The company has a strong track record, having shipped more than 3.5 billion devices, which reinforces its market presence and reliability in the semiconductor MEMS industry.
Potential Negatives
- The announcement of a follow-on public offering may dilute existing shareholders' equity, which can lead to a decrease in the stock price.
- The offering was completed at a high price of $200.00 per share, which may raise concerns about the company's valuation and market perception.
FAQ
What was the purpose of SiTime’s recent public offering?
SiTime completed a public offering to raise approximately $387.4 million for corporate purposes.
How many shares were sold in SiTime's follow-on offering?
SiTime sold 2,012,500 shares of its common stock in the follow-on public offering.
What was the share price during SiTime’s offering?
The public offering price for each share was set at $200.00.
Who were the underwriters for SiTime's offering?
UBS Investment Bank and Stifel served as joint lead book-running managers for the offering.
Where can I obtain the prospectus for SiTime’s offering?
The prospectus can be obtained from UBS Securities LLC or Stifel, Nicolaus & Company, via their contact details.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$SITM Insider Trading Activity
$SITM insiders have traded $SITM stock on the open market 28 times in the past 6 months. Of those trades, 0 have been purchases and 28 have been sales.
Here’s a breakdown of recent trading of $SITM stock by insiders over the last 6 months:
- CORP /FI MEGACHIPS sold 180,000 shares for an estimated $27,360,000
- RAJESH VASHIST (Chief Executive Officer) has made 0 purchases and 2 sales selling 30,000 shares for an estimated $6,363,000.
- SAMSHEER AHAMAD (See Remarks) has made 0 purchases and 2 sales selling 11,728 shares for an estimated $2,402,864.
- FARIBORZ ASSADERAGHI (See Remarks) has made 0 purchases and 7 sales selling 11,919 shares for an estimated $2,328,245.
- VINCENT P PANGRAZIO (See Remarks) has made 0 purchases and 4 sales selling 10,936 shares for an estimated $2,226,493.
- LIONEL BONNOT (See Remarks) has made 0 purchases and 3 sales selling 6,206 shares for an estimated $1,153,757.
- PIYUSH B SEVALIA (See Remarks) has made 0 purchases and 6 sales selling 5,667 shares for an estimated $1,089,367.
- TOM DANG-HSING YIU sold 2,115 shares for an estimated $423,000
- ELIZABETH A. HOWE (EVP, Chief Financial Officer) sold 1,500 shares for an estimated $312,000
- TORSTEN KREINDL sold 950 shares for an estimated $196,650
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$SITM Hedge Fund Activity
We have seen 146 institutional investors add shares of $SITM stock to their portfolio, and 159 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- ALLIANCEBERNSTEIN L.P. added 422,288 shares (+2016.8%) to their portfolio in Q1 2025, for an estimated $64,555,166
- DRIEHAUS CAPITAL MANAGEMENT LLC removed 259,666 shares (-67.4%) from their portfolio in Q1 2025, for an estimated $39,695,141
- EVENTIDE ASSET MANAGEMENT, LLC added 162,965 shares (+5015.9%) to their portfolio in Q1 2025, for an estimated $24,912,459
- NEUBERGER BERMAN GROUP LLC added 105,868 shares (+360.8%) to their portfolio in Q1 2025, for an estimated $16,184,041
- AMERIPRISE FINANCIAL INC added 87,598 shares (+17.0%) to their portfolio in Q1 2025, for an estimated $13,391,106
- GOLDMAN SACHS GROUP INC removed 86,994 shares (-44.4%) from their portfolio in Q1 2025, for an estimated $13,298,772
- WELLINGTON MANAGEMENT GROUP LLP added 82,017 shares (+41.9%) to their portfolio in Q1 2025, for an estimated $12,537,938
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
SANTA CLARA, Calif., June 27, 2025 (GLOBE NEWSWIRE) -- SiTime Corporation (Nasdaq: SITM), the Precision Timing company, today announced the completion of its follow-on public offering of 2,012,500 shares of its common stock, including the full exercise of the underwriters’ option to purchase additional shares, at a price to the public of $200.00 per share. After deducting underwriting discounts and commissions and estimated offering expenses payable by SiTime, the net proceeds to SiTime were approximately $387.4 million.
UBS Investment Bank and Stifel were joint lead book-running managers for the offering. Needham & Company and Goldman Sachs & Co. LLC were joint book-running managers for the offering. Raymond James and Roth Capital Partners were co-managers for the offering.
A registration statement relating to these securities was filed with the U.S. Securities and Exchange Commission on February 26, 2024, and became effective upon filing. The offering was made only by means of a prospectus supplement and accompanying prospectus. Copies of the prospectus supplement and accompanying prospectus may be obtained from: UBS Securities LLC, Attention: Prospectus Department, 1285 Avenue of the Americas, New York, NY 10019, by telephone at (888) 827-7275 or by email at [email protected] or Stifel, Nicolaus & Company, Incorporated, Attention: Prospectus Department, One Montgomery Street, Suite 3700, San Francisco, CA 94104, or by telephone at (415) 364-2720 or by email at [email protected] .
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About SiTime
SiTime Corporation is the Precision Timing company. Our semiconductor MEMS programmable solutions offer a rich feature set that enables customers to differentiate their products with higher performance, smaller size, lower power, and better reliability. With more than 3.5 billion devices shipped, SiTime is changing the timing industry.
Investor Relations Contacts:
Shelton Group
Leanne Sievers | Brett Perry
[email protected]
SiTime Corporation
Beth Howe
Chief Financial Officer
[email protected]
