Craig-Hallum analyst Richard Shannon lowered the firm’s price target on Navitas Semiconductor to $10 from $11 and keeps a Buy rating on the shares. Navitas reported solid Q4 results, but guided Q1 and FY24 sales below consensus as feared, the analyst tells investors in a research note. Markets outside of Mobile are soft in 1H24, but new wins and recovering markets should enable a strong 2H24, the firm argues.
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