Why Navitas Semiconductor Stock Was Sinking This Week

Specialty chipmaker Navitas Semiconductor (NASDAQ: NVTS) was looking anything but special over the past few trading days. The company was the subject of a recommendation downgrade, which pushed the stock well down in price and kept it there. As of Thursday evening, Navitas's shares were down by over 10% week to date, according to data compiled by S&P Global Market Intelligence. Although the downgrading party wasn't a large, famous financial institution, the move nevertheless impacted Navitas stock, and not in a pleasant way. It was made on Wednesday by CJS Securities's Jonathan Tanwanteng, who reset his recommendation on the stock to market perform -- hold, in other words -- from his previous ranking of market outperform (buy). He did not set a price target. Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool