Craig-Hallum lowered the firm’s price target on Navitas Semiconductor to $7.50 from $10 and keeps a Buy rating on the shares. Navitas reported in-line Q1 results, but Q2 guidance was below consensus, as pushouts and lower volumes in EV, solar and industrial markets caused pushout in growth, the analyst tells investors in a research note. The firm says Navitas is growing much faster than power semi peers.
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