Navitas Semiconductor downgraded to Neutral from Buy at Rosenblatt

Rosenblatt downgraded Navitas Semiconductor (NVTS) to Neutral from Buy with a price target of $12, up from $8. The firm sees expectations for the impact of 800VDC data center architecture as “well ahead of the market” and with the shares trading at about 60-times consensus FY26 revenue the firm thinks that investors “may not have the patience to see this market inflect” over the next roughly two years.