10 Best Mid-Cap Growth Stocks to Buy According to Analysts

7. SiTime Corp. (NASDAQ:SITM)

Upside Potential: 36%

Number of hedge funds: 18

SiTime Corp. (NASDAQ:SITM) is a fabless semiconductor company that delivers precision timing solutions to the global electronics industry. Utilizing micro-electro-mechanical systems (MEMS) technology, SiTime’s products ensure reliable and accurate timing for electronic devices. They are distinguished by their high performance, resilience, reliability, programmability, compact size, and low power consumption. These products are integrated into more than 300 applications across diverse markets, including communications, data centers, automotive, industrial, aerospace, mobile, IoT, and consumer sectors. SiTime Corp. (NASDAQ:SITM) holds a commanding 90% market share in the MEMS timing devices market. The company’s innovative MEMS-based oscillators are gradually replacing traditional quartz oscillators, presenting significant market expansion opportunities.

On February 5, 2025, the company announced impressive Q4 2024 results. Net revenue surged by 61% year-over-year (YoY) or 18% sequentially (compared to the previous quarter) to just over $68 million. The company reported over 30% growth across all customer segments, with significant gains in the Communications, Enterprise, and Datacenter businesses, thanks to the crucial role of precision timing in AI. Additionally, the management projected a 64% YoY revenue growth for Q1, indicating a strong start to 2025. They also highlighted that the company ended the quarter with strong bookings for 2025, underscoring a positive outlook for the year. The results were well received by the market, leading to widespread upward earnings revisions. Barclays, Needham, Raymond James, and Stifel all raised their price targets in response.