Navitas Semiconductor (NVTS) received upgrades from two Wall Street firms. Craig-Hallum and Rosenblatt cited the company's growing opportunity in AI data centers.
Craig-Hallum raised its rating to 'Buy' from 'Hold'. The firm noted a healthy spending environment in AI infrastructure. It also highlighted new customer wins and an increasing order backlog. Rosenblatt upgraded the stock to 'Buy' from 'Neutral'.
These upgrades followed Navitas' strong third-quarter results. The company beat revenue estimates. It also provided an optimistic fourth-quarter forecast. Navitas anticipates its AI infrastructure business will more than triple in 2027.
Analysts noted Navitas' shift from mobile and consumer markets to high-power applications. These applications include AI, energy, and industrial sectors. The company's strategy is showing positive results.