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

Shares of Navitas Semiconductor Co. (NASDAQ:NVTS) have been assigned an average recommendation of “Moderate Buy” from the eight ratings firms that are covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $4.75.

Several analysts have weighed in on the stock. Craig Hallum dropped their price objective 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, November 5th. Morgan Stanley lowered their target price on Navitas Semiconductor from $4.60 to $3.50 and set an “equal weight” rating on the stock in a research report on Tuesday, August 6th. Needham & Company LLC lowered their target price on shares of Navitas Semiconductor from $7.00 to $5.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Robert W. Baird dropped their price target on Navitas Semiconductor from $7.00 to $5.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft decreased 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, November 5th.

Navitas Semiconductor Trading Up 11.8 %

Shares of NASDAQ:NVTS opened at $2.75 on Monday. The business has a 50-day moving average price of $2.37 and a two-hundred day moving average price of $3.17. Navitas Semiconductor has a 1-year low of $1.75 and a 1-year high of $8.44. The stock has a market capitalization of $513.70 million, a P/E ratio of -6.55 and a beta of 2.36.

Navitas Semiconductor (NASDAQ:NVTS) last issued its quarterly earnings results on Monday, November 4th. The company reported ($0.06) EPS for the quarter, meeting analysts’ consensus estimates of ($0.06). Navitas Semiconductor had a negative return on equity of 23.64% and a negative net margin of 84.61%. The company had revenue of $21.68 million for the quarter, compared to analyst estimates of $21.93 million. During the same period in the previous year, the company posted ($0.10) earnings per share. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. As a group, equities analysts predict that Navitas Semiconductor will post -0.51 EPS for the current year.

Institutional Investors Weigh In On Navitas Semiconductor

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in Navitas Semiconductor by 2.6% in the first quarter. Vanguard Group Inc. now owns 9,009,587 shares of the company’s stock worth $42,976,000 after acquiring an additional 232,496 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Navitas Semiconductor by 16.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 31,646 shares of the company’s stock valued at $151,000 after purchasing an additional 4,533 shares during the last quarter. Boston Partners purchased a new position in shares of Navitas Semiconductor during the 1st quarter valued at approximately $393,000. DNB Asset Management AS increased its position in shares of Navitas Semiconductor by 45.2% in the second quarter. DNB Asset Management AS now owns 126,148 shares of the company’s stock valued at $496,000 after buying an additional 39,284 shares in the last quarter. Finally, 180 Wealth Advisors LLC lifted its stake in Navitas Semiconductor by 63.0% in the 2nd quarter. 180 Wealth Advisors LLC now owns 52,405 shares of the company’s stock valued at $206,000 after buying an additional 20,247 shares in the last quarter. Hedge funds and other institutional investors own 46.14% of the company’s stock.

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.