In a report released today, Quinn Bolton from Needham maintained a Buy rating on Navitas Semiconductor (NVTS – Research Report), with a price target of $4.00.
Quinn Bolton has given his Buy rating due to a combination of factors that highlight Navitas Semiconductor’s potential for growth. Despite missing guidance for the fifth consecutive quarter, the company ended the year with significant design wins totaling $450 million, particularly in the Data Center and Electric Vehicle sectors, which are key areas for future expansion.
Additionally, Navitas has demonstrated a strong increase in its customer pipeline, which grew by 92% year-over-year to $2.4 billion. The company has also made strategic reductions in operating expenses, which are expected to positively impact earnings per share. These factors, combined with the anticipation of a breakthrough in power conversion technology, support the Buy rating and the maintained 12-month price target of $4.00.
Bolton covers the Technology sector, focusing on stocks such as Marvell, Semtech, and Credo Technology Group Holding Ltd. According to TipRanks, Bolton has an average return of 17.2% and a 52.22% success rate on recommended stocks.
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