Navitas Semiconductor price target lowered to $4.25 from $6.50 at Craig-Hallum

Craig-Hallum analyst Richard Shannon lowered the firm’s price target on Navitas Semiconductor (NVTS) to $4.25 from $6.50 and keeps a Buy rating on the shares. The firm says that Navitas is seeing some lingering weakness that was accentuated by two large pushouts that have created another step down in the stock. While Craig-Hallum finds the stock in the $2’s intriguing from a long-term perspective, it thinks it trades in a range until there’s more confidence in inventories and building backlog.