Navitas Semiconductor (NVTS) PT Lowered to $2.50 at Jefferies

Jefferies analyst Blayne Curtis lowered the price target on Navitas Semiconductor (NASDAQ: NVTS) to $2.50 (from $3.00) while maintaining a Hold rating.

The analyst comments "End market demand saw further weakness but Q1 is expected to be the cyclical bottom. NVTS continues to deal with inventory digestion in EV/Solar/Industrials, which also impacted GMs as the mix shifted to Mobile. DC saw further strength off a strong 2H24 but is still relatively small. To offset weakness, NVTS reduced its breakeven to the $39M/qtr range (assuming 40% GM) but that seems a long way away even with a sharp 2H recovery, and we remain on the sidelines."

You May Also Be Interested In

• Grocery Outlet Holding (GO) PT Raised to $12 at TD Cowen
• TD Cowen Upgrades BRP Inc. (DOOO) to Buy
• McEwen Copper seeks $1.6b in equity financing for Los Azules - Bloomberg