SiTime Corporation (NASDAQ:SITM) is one of the High Growth Semiconductor Stocks to Buy. On March 24, SiTime Corporation (NASDAQ:SITM) announced a major expansion move by signing a lease for approximately 149,300 square feet in two adjacent buildings at 3250 and 3260 Jay Street in Santa Clara.
The management indicated that the facilities will become the company’s new headquarters. Occupancy is expected to begin April 1, 2027 and will last for 13 years, with contract terms providing for two additional 5-year extensions. In addition, the rental structure is set at $3,762,360 annually for the first 12 months and $5,733,120 from months 13 to 24.
Management noted that under the agreement, rent for the first 6 months is reduced and the agreed upon rent will increase approximately 3% annually after 2 years of occupancy. Notably, the owner, 3250 Jay Street Owner LLC, will also provide up to $16.05 million for initial construction and $1.3 million for energy improvements, both of which are reflected in the base rent.
SiTime Corporation (NASDAQ:SITM) is focused on developing silicon timing solutions based on microelectromechanical systems that replace legacy quartz devices.
While we recognize SITM’s potential as an investment, we believe certain AI stocks offer greater growth potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that’s also benefiting significantly from Trump-era tariffs and the offshoring trend, check out our free report on best short-term AI stock.
READ NEXT: 10 High-Flying Penny Stocks to Buy and 10 cheap stocks to buy for high returns in 2026.
Disclosure: None. Follow Insider Monkey on Google News.