Navitas Semiconductor price target lowered to $2.10 from $2.20 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Navitas Semiconductor (NVTS) to $2.10 from $2.20 and keeps an Equal Weight rating on the shares. Navitas guided for March quarter revenue to come in below the firm’s forecast with further industry headwinds impacting the business in the June quarter, followed by a sharp ramp in the second half, the analyst tells investors. The firm sees “more negatives than positives” in the company’s report and guidance, the analyst added.