** 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))
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