Navitas Semiconductor price target raised to $11 from $10 at Craig-Hallum

Craig-Hallum raised the firm’s price target on Navitas Semiconductor to $11 from $10 and keeps a Buy rating on the shares. Navitas’ analyst event last week was a helpful assessment of the current state of its business and where it is going, the firm says. Craig-Hallum sees Navitas as a market leader in GaN, with its strong position in mobile, and is expanding its portfolio to address the higher power segments. The firm is intrigued by the potential for bi-directional GaN, and expects to see more into 2024.