(Updates with the company's latest stock movement in the headline and the first paragraph, analyst upgrade in the seventh paragraph.)

Navitas Semiconductor (NVTS) shares were up 6.1% in Wednesday afternoon trading after the company posted better than expected Q3 results late Tuesday.

Quarterly adjusted loss came in at $0.03 per diluted share, narrowing from a loss of $0.05 a year earlier.

Analysts polled by FactSet expected a loss of $0.04 a share.

Revenue for the quarter ended Sept. 30 was $14.0 million, up from $10.1 million a year ago.

Analysts expected $13.4 million.

For Q4, the firm expects revenue of $15.5 million to $16.5 million. Analysts expected $15.1 million.

Separately, Rosenblatt upgraded the company's stock to buy from neutral.

Price: 9.09, Change: +0.53, Percent Change: +6.13