On August 19, SiTime Corp fell 6% in regular trading, trading at approximately $633.00/share, with turnover of $38.29 million. The stock has now declined for two consecutive sessions, with a cumulative pullback exceeding 11%.

On the news front, the semiconductor sector continued to face broad-based selling pressure as the 30-year US Treasury yield surged to its highest level since 2007, weighing heavily on growth stock valuations. Overnight US tech and semiconductor stocks suffered sharp declines, with risk appetite contracting globally and dragging down the sector. Within the Semiconductors sector, Broadcom fell 5.07%, Intel fell 4.65%, Micron Technology fell 1.45%, NVIDIA fell 0.61%, while Marvell Technology rose 6.85%.

SiTime had previously risen following strong Q2 results that significantly beat expectations, with adjusted EPS of $2.34 versus the $1.95 consensus and revenue of $157.4 million versus the $146.5 million estimate. UBS had also raised its price target to $840 from $775 with a Buy rating. Despite strong fundamentals, sector-wide deleveraging and macro headwinds have driven the recent pullback.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)