The company was founded in 2014. GaN power ICs integrate GaN power with drive, control, sensing and protection to enable faster charging, higher power density and greater energy savings for mobile, consumer, enterprise, eMobility and new energy markets. Over 150 Navitas patents are issued or pending. Over 50 million units have been shipped with zero reported GaN field failures, and Navitas introduced the industry’s first and only 20-year warranty. Navitas is the world’s first semiconductor company to be CarbonNeutral-company certified.
Baird’s target price is $10, and Navitas Semiconductor stock has a $9.63 consensus target. The shares traded at $9.30 on Friday.
SoundHound AI
This top artificial intelligence (AI) stock could be a huge winner as its technology continues to be added to other platforms. SoundHound AI Inc. (NASDAQ: SOUN) develops an independent voice AI platform that enables businesses across industries to deliver high-quality conversational experiences to their customers.
Its products include Houndify platform, which offers a suite of Houndify tools to help brands build conversational voice assistants, such as automatic speech recognition, natural language understanding, wake words, custom domains, text-to-speech and embedded voice solutions.
The company announced in January that as part of a targeted restructuring, it will increase its focus on SoundHound for Restaurants while reducing investment in new verticals and already completed language development projects. It will maintain its growing licensing business in smart devices, TV and automotive verticals.
These measures are expected to reduce costs by approximately 40% while still enabling the company to deliver revenue growth of over 50% in 2023. As a result of this restructuring, cost reductions and revenue growth, SoundHound expects to have much lighter capital needs going forward and become operating cash flow positive by the fourth quarter of this year.
The $7 Wedbush target price is well above the $4.77 consensus and a $2.90 share price seen on Friday.
These are five stocks for aggressive investors looking to get share count leverage on companies that have sizable upside potential. While not suited for all investors, they are not penny stocks with absolutely no track record or liquidity, and major Wall Street firms have research coverage.
Originally published at 24/7 Wall St.
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