Why Are Navitas Semiconductor Shares Surging Today?

  • Jefferies analyst Mark Lipacis initiated coverage of Navitas Semiconductor Corp NVTS with a Buy rating and $24 price target, implying a 22.6% upside. 
  • Navitas' unique position as a supplier of highly integrated, low-cost, high-efficiency GaN-on-Si power chip charging solutions charge three times faster and 40% more efficiently than existing Si technology. All the factors position Navitas as a unique "pure-play ESG" company and translate to high growth and a premium valuation. 
  • He expects Navitas to post a two-year revenue compound annual growth rate of 140%.
  • Price Action: NVTS shares traded higher by 5.44% at $19.57 on the last check Monday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorNewsPrice TargetInitiationAnalyst RatingsMoversTechTrading IdeasBriefswhy it's moving
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!