Deutsche Bank analyst Ross Seymore last night initiated coverage of Navitas Semiconductor Corp. with a Buy and $22 price target, implying a 21.95 percent upside.
The analyst sees “compelling growth potential” in the gallium nitride semiconductor market.
While Navitas’ revenue base is currently small, the company has high visibility through the first half of 2023 and robust engagements with critical manufacturers in the enterprise, Seymore notes.
Navitas Semiconductor develops ultra-efficient gallium nitride (GaN) semiconductors that are revolutionizing power electronics.
Price Action
Navitas shares closed 0.44 percent lower at $17.96 on Tuesday.
By Anusuya Lahiri
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