As previously reported, Craig-Hallum downgraded Navitas Semiconductor (NVTS) to Hold from Buy with a $6 price target The firm notes the company reported in-line Q2 results, but guided Q3 well below. Craig-Hallum says the miss is due to combination of China tariffs on SiC and defocus on lower-end Mobile/Consumer markets, and also to increase focus on Datacenter. The firm likes the increased focus on DC, but with leaving other markets, the revenue trends will be flattish for a few quarters while awaiting design wins that ramp in 2027.
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