On July 28, Navitas Semiconductor Corp fell 11.94% in regular trading, trading at $9.99/share, with turnover of $26.51 million.

On the news front, Morgan Stanley lowered its target price on Navitas Semiconductor from $13.70 to $12.60, maintaining an Underweight rating. The same day, the company reported Q2 results showing adjusted loss of $0.04 per share, in line with consensus. Revenue came in at $10.5 million, slightly above the $9.97 million estimate but down 27.6% year-over-year from $14.5 million. For Q3, management guided revenue of $13.5 million (plus or minus $500K), above the Street estimate of $11.1 million.

Adding to market concerns, Wolfspeed filed a patent infringement lawsuit against Navitas in early July in the US District Court for the District of Delaware, alleging that a broad range of Navitas products — including GaNFast, GaNSlim, GaNSafe families and GeneSiC MOSFETs — infringe multiple Wolfspeed patents. The combination of the analyst downgrade, steep year-over-year revenue contraction, and unresolved litigation weighed heavily on sentiment.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)