Needham raised the firm’s price target on Navitas Semiconductor (NVTS) to $8 from $3 and keeps a Buy rating on the shares after its in-line Q2 results. The firm believes that the near-term estimates for the company will be compressed as Navitas undergoes a reconfiguration in its Mobile business and tariff uncertainty lingers, the analyst tells investors in a research note. The company’s focus will shift towards higher power applications in Mobile (100W+), Data Center, and Energy Infrastructure, the firm added.
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Read More on NVTS:
- Navitas Semiconductor downgraded to Hold from Buy at Craig-Hallum
- Strategic Shift and Growth Potential Drive Buy Rating for Navitas Semiconductor
- Navitas Semiconductor Focuses on AI and Energy Growth
- Navitas Semiconductor reports Q2 EPS (5c), consensus (5c)
- Navitas Semiconductor sees Q3 revenue $10M +/- $500,000, consensus $15.58M