Investor's Business Daily reports that times are good for fabless chipmaker SiTime (SITM). Since going public in late 2019, SiTime stock has shot up more than 700%. The Santa Clara, Calif.-based company specializes in making micro-electromechanical systems, known as MEMS, for timing devices in a host of electronics.
SiTime is looking to revolutionize an industry that has traditionally relied on crystal-based timing devices. SiTime's analog semiconductor systems are more precise than quartz alternatives, Chief Executive Rajesh Vashist told Investor's Business Daily.
"Every processor, every Wi-Fi chip, every display chip, every kind of electronic system needs a heartbeat," Vashist said. "It needs to know when it should be on or off, who's on first, who's on second and who's on third."
Timing devices act as that heartbeat and synchronize the activities of the various chips in a system, according to Vashist.