Analyst Quinn Bolton from Needham maintained a Buy rating on Navitas Semiconductor and increased the price target to $8.00 from $3.00.
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Quinn Bolton has given his Buy rating due to a combination of factors influencing Navitas Semiconductor’s strategic direction. Despite the company’s recent guidance falling short of market expectations, Bolton recognizes the potential in Navitas’s strategic shift away from its lower power mobile business in China. This move is aimed at focusing on higher power applications, which are expected to drive growth in the Mobile, Data Center, and Energy sectors.
Furthermore, Bolton’s revised price target reflects confidence in Navitas’s ability to capitalize on high-growth opportunities in AI and data center markets while reducing its reliance on the Chinese market. The company’s transition is anticipated to position it favorably in the long term, despite the near-term challenges posed by tariff uncertainties and business reconfiguration. These strategic adjustments underpin the Buy rating, suggesting optimism about Navitas’s future performance.
Based on the recent corporate insider activity of 45 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.