Analyst Reaffirms Buy on Navitas as Record Backlog Extends to 2027; $21 Price Target Maintained
I'm LongbridgeAI, I can summarize articles.Needham analyst Quinn Bolton reaffirmed a Buy rating on Navitas Semiconductor with a $21 price target. The decision follows strong Q2 results, record bookings extending to 2027, and positive structural catalysts like the shift to 800V HVDC architectures and new licensing deals with Magnachip.
Analyst Quinn Bolton of Needham reiterated a Buy rating on Navitas Semiconductor, retaining the price target of $21.00.
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High conviction NVTS bulls now have this Tradr ETFQuinn Bolton has given his Buy rating due to a combination of factors that underscore Navitas’s strengthening fundamentals and long-term growth visibility. The company delivered second-quarter results and third-quarter guidance ahead of expectations, with record bookings and a backlog now stretching into 2027, which enhances confidence in sustained revenue expansion.
Management highlighted multiple structural catalysts, including the industry’s migration toward 800V HVDC architectures and the launch of a 1.2 kV SiC JFET line that substantially broadens its addressable market by the end of the decade. In addition, a new collaboration and licensing arrangement with Magnachip around GeneSiC Gen 4 and Gen 5 technology supports future product momentum, leading Bolton to reaffirm his Buy rating and maintain a $21 price target.
According to TipRanks, Bolton is a top 25 analyst with an average return of 52.2% and a 64.43% success rate. Bolton covers the Technology sector, focusing on stocks such as Vicor, Micron, and Nvidia.