Navitas Semiconductor, the Technology sector company, was revisited by a Wall Street analyst today. Analyst Quinn Bolton from Needham maintained a Buy rating on the stock and has a $8.00 price target.
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Quinn Bolton has given his Buy rating due to a combination of factors that suggest a positive outlook for Navitas Semiconductor. The planned leadership transition, with Chris Allexandre taking over as CEO, is seen as a strategic move. Allexandre’s extensive experience, particularly from his leadership roles at Renesas, is expected to benefit Navitas as he brings valuable insights and expertise to the company.
Bolton anticipates that Navitas will maintain its strategic focus on high-margin opportunities in sectors such as data centers and energy infrastructure. This continuity in strategy, coupled with the leadership transition, is likely to support the company’s growth and profitability, making the stock a favorable investment option.
Based on the recent corporate insider activity of 54 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of NVTS in relation to earlier this year.