Navitas Semiconductor Co. (NASDAQ:NVTS) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Navitas Semiconductor Co. (NASDAQ:NVTS) have been given a consensus recommendation of “Moderate Buy” by the eight analysts that are presently covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $7.41.

A number of brokerages have recently issued reports on NVTS. Rosenblatt Securities reiterated a “buy” rating and set a $10.00 price objective on shares of Navitas Semiconductor in a report on Friday, June 7th. Robert W. Baird dropped their price target on shares of Navitas Semiconductor from $12.00 to $7.00 and set an “outperform” rating on the stock in a research report on Friday, May 10th. Jefferies Financial Group reissued a “hold” rating and set a $4.00 price objective (down from $10.00) on shares of Navitas Semiconductor in a report on Monday, May 13th. Needham & Company LLC dropped their target price on Navitas Semiconductor from $9.00 to $7.00 and set a “buy” rating on the stock in a report on Friday, May 10th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on Navitas Semiconductor from $9.00 to $7.00 and set a “buy” rating on the stock in a research report on Friday, May 10th.

Navitas Semiconductor Trading Up 1.3 %

NASDAQ:NVTS opened at $4.03 on Friday. Navitas Semiconductor has a 12 month low of $3.48 and a 12 month high of $11.16. The stock has a market capitalization of $737.89 million, a price-to-earnings ratio of -7.90 and a beta of 2.42. The firm has a fifty day simple moving average of $4.16 and a two-hundred day simple moving average of $5.24.

Navitas Semiconductor (NASDAQ:NVTS) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.02). The firm had revenue of $23.18 million for the quarter, compared to analyst estimates of $23.15 million. Navitas Semiconductor had a negative return on equity of 21.22% and a negative net margin of 97.75%. Equities analysts predict that Navitas Semiconductor will post -0.53 earnings per share for the current fiscal year.

Insider Transactions at Navitas Semiconductor

In other Navitas Semiconductor news, Director Dipender Saluja sold 87,059 shares of Navitas Semiconductor stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $4.45, for a total value of $387,412.55. Following the sale, the director now owns 5,944,420 shares of the company’s stock, valued at $26,452,669. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 31.80% of the company’s stock.

Hedge Funds Weigh In On Navitas Semiconductor

Several institutional investors and hedge funds have recently bought and sold shares of the company. Tower Research Capital LLC TRC increased its holdings in Navitas Semiconductor by 241.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,043 shares of the company’s stock worth $57,000 after acquiring an additional 4,982 shares during the period. Benjamin F. Edwards & Company Inc. boosted its stake in Navitas Semiconductor by 72.5% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 13,200 shares of the company’s stock valued at $63,000 after buying an additional 5,550 shares during the period. SG Americas Securities LLC purchased a new position in Navitas Semiconductor during the first quarter worth about $65,000. Atria Wealth Solutions Inc. bought a new position in Navitas Semiconductor in the 4th quarter worth about $81,000. Finally, ProShare Advisors LLC grew its holdings in shares of Navitas Semiconductor by 12.5% during the first quarter. ProShare Advisors LLC now owns 20,348 shares of the company’s stock worth $97,000 after purchasing an additional 2,258 shares in the last quarter. 46.14% of the stock is owned by institutional investors.

About Navitas Semiconductor

Navitas Semiconductor Corporation designs, develops, and markets gallium nitride power integrated circuits, silicon carbide, associated high-speed silicon system controllers, and digital isolators used in power conversion and charging. The company's products are used in mobile, consumer, data center, solar, electric vehicle, industrial motor drive, smart grid, and transportation applications.