Navitas Semiconductor Co. (NASDAQ:NVTS) Receives Average Recommendation of “Moderate Buy” from Analysts

Navitas Semiconductor Co. (NASDAQ:NVTS) has earned an average rating of “Moderate Buy” from the eight analysts that are presently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $4.75.

A number of equities analysts recently issued reports on NVTS shares. Craig Hallum decreased their price target on shares of Navitas Semiconductor from $6.50 to $4.25 and set a “buy” rating for the company in a research note on Tuesday. Robert W. Baird decreased their target price on Navitas Semiconductor from $7.00 to $5.00 and set an “outperform” rating for the company in a research report on Tuesday. Deutsche Bank Aktiengesellschaft dropped their price target on Navitas Semiconductor from $6.00 to $4.00 and set a “buy” rating on the stock in a research report on Tuesday. Rosenblatt Securities reiterated a “buy” rating and issued a $7.50 price objective on shares of Navitas Semiconductor in a report on Thursday, October 31st. Finally, Needham & Company LLC dropped their target price on shares of Navitas Semiconductor from $7.00 to $5.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th.

Navitas Semiconductor Stock Performance

NASDAQ NVTS opened at $2.30 on Thursday. The stock has a market cap of $421.13 million, a P/E ratio of -5.48 and a beta of 2.36. Navitas Semiconductor has a fifty-two week low of $2.14 and a fifty-two week high of $8.44. The stock has a 50 day simple moving average of $2.49 and a two-hundred day simple moving average of $3.43.

Navitas Semiconductor (NASDAQ:NVTS) last announced its quarterly earnings results on Monday, November 4th. The company reported ($0.06) EPS for the quarter, hitting analysts’ consensus estimates of ($0.06). The company had revenue of $21.68 million during the quarter, compared to analyst estimates of $21.93 million. Navitas Semiconductor had a negative return on equity of 23.51% and a negative net margin of 84.61%. The firm’s revenue was down 1.4% on a year-over-year basis. During the same quarter last year, the firm posted ($0.10) earnings per share. Sell-side analysts predict that Navitas Semiconductor will post -0.53 earnings per share for the current year.

Insider Buying and Selling

In other Navitas Semiconductor news, Director David Moxam sold 33,000 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $3.13, for a total transaction of $103,290.00. Following the sale, the director now directly owns 867,848 shares in the company, valued at approximately $2,716,364.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Navitas Semiconductor news, CEO Eugene Sheridan sold 193,662 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $3.03, for a total transaction of $586,795.86. Following the completion of the sale, the chief executive officer now directly owns 2,149,631 shares in the company, valued at $6,513,381.93. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director David Moxam sold 33,000 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $3.13, for a total transaction of $103,290.00. Following the sale, the director now directly owns 867,848 shares of the company’s stock, valued at approximately $2,716,364.24. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 829,852 shares of company stock worth $2,528,252 in the last quarter. Corporate insiders own 31.80% of the company’s stock.

Hedge Funds Weigh In On Navitas Semiconductor

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of Navitas Semiconductor by 2.6% in the first quarter. Vanguard Group Inc. now owns 9,009,587 shares of the company’s stock valued at $42,976,000 after acquiring an additional 232,496 shares in the last quarter. Kodai Capital Management LP increased its holdings in shares of Navitas Semiconductor by 14.3% in the first quarter. Kodai Capital Management LP now owns 4,514,576 shares of the company’s stock worth $21,535,000 after purchasing an additional 565,463 shares during the last quarter. Point72 Asset Management L.P. lifted its position in shares of Navitas Semiconductor by 2,656.2% in the second quarter. Point72 Asset Management L.P. now owns 4,283,350 shares of the company’s stock worth $16,834,000 after buying an additional 4,127,940 shares in the last quarter. Masters Capital Management LLC boosted its stake in Navitas Semiconductor by 90.0% during the second quarter. Masters Capital Management LLC now owns 1,900,000 shares of the company’s stock valued at $7,467,000 after buying an additional 900,000 shares during the last quarter. Finally, Squarepoint Ops LLC bought a new position in Navitas Semiconductor during the second quarter valued at approximately $2,364,000. 46.14% of the stock is owned by institutional investors.

Navitas Semiconductor Company Profile

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.