Navitas Semiconductor downgraded to Hold from Buy at Deutsche Bank

Deutsche Bank analyst Ross Seymore downgraded Navitas Semiconductor (NVTS) to Hold from Buy with a price target of $3.50, down from $7. The stock has risen 250% over the past month after the announcement that the company was collaborating with Nvidia (NVDA) on next-generation 800V HVDC architecture for AI factories, the analyst tells investors in a research note. While the collaboration is not exclusive, it provides a strong endorsement for the unique combination of GaN and SiC technologies that Navitas can offer, the firm added, noting however that the potential upside beyond its current estimates will not become clear for another year or more.