** 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))