Navitas Semiconductor Corp's stock fell 5.05% during intraday trading on Thursday, as the broader chip sector faced selling pressure.
The decline followed a report from Morgan Stanley maintaining a Sell rating on the stock with a price target of $4.20, reflecting analyst concerns about the company's prospects.
Additionally, the semiconductor sector experienced broad declines, with several major chip stocks dropping over 5% on the day, contributing to the negative sentiment surrounding Navitas.
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