These Analysts Revise Their Forecasts On Navitas Semiconductor Following Q3 Earnings

Navitas Semiconductor Corp (NASDAQ:NVTS) reported better-than-expected sales for the third quarter after the market close on Monday.

Navitas Semiconductor reported third-quarter revenue of $10.11 million, beating analyst estimates of $10.01 million, according to Benzinga Pro. The company reported an adjusted loss of five cents per share for the third quarter, in line with analyst estimates.

"I'm excited to be leading the Navitas 2.0 team at this pivotal moment, as demand accelerates across high-power semiconductor markets for AI data centers, performance computing, energy and grid infrastructure, and industrial electrification," said Chris Allexandre, president and CEO of Navitas.

Navitas Semiconductor expects fourth-quarter revenue to be between $6.75 million and $7.25 million versus estimates of $10.05 million.

Navitas Semiconductor shares fell 11.9% to trade at $10.79 on Tuesday.

These analysts made changes to their price targets on Navitas Semiconductor following earnings announcement.

• Needham analyst N. Quinn Bolton maintained Navitas Semiconductor with a Buy and raised the price target from $8 to $13.
• Rosenblatt analyst Kevin Cassidy maintained the stock with a Neutral and lowered the price target from $12 to $8.

Considering buying NVTS stock? Here’s what analysts think:

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