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

Navitas Semiconductor Co. (NASDAQ:NVTS) has earned an average recommendation of “Moderate Buy” from the eight brokerages that are currently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $4.75.

Several brokerages recently weighed in on NVTS. Robert W. Baird cut their price objective on shares of Navitas Semiconductor from $7.00 to $5.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $7.50 price objective on shares of Navitas Semiconductor in a research note on Thursday, October 31st. Craig Hallum decreased their price objective on shares of Navitas Semiconductor from $6.50 to $4.25 and set a “buy” rating for the company in a report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on Navitas Semiconductor from $6.00 to $4.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th.

Navitas Semiconductor Stock Performance

NASDAQ NVTS opened at $4.12 on Friday. The business’s fifty day moving average is $2.79 and its two-hundred day moving average is $3.13. The stock has a market capitalization of $769.60 million, a P/E ratio of -9.81 and a beta of 2.37. Navitas Semiconductor has a 1 year low of $1.75 and a 1 year high of $8.43.

Navitas Semiconductor (NASDAQ:NVTS) last posted its quarterly earnings data on Monday, November 4th. The company reported ($0.06) earnings per share for the quarter, hitting the consensus estimate of ($0.06). Navitas Semiconductor had a negative net margin of 84.61% and a negative return on equity of 23.64%. The firm had revenue of $21.68 million for the quarter, compared to analysts’ expectations of $21.93 million. During the same period in the previous year, the company posted ($0.10) EPS. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. On average, research analysts forecast that Navitas Semiconductor will post -0.51 earnings per share for the current year.

Insider Transactions at Navitas Semiconductor

In other Navitas Semiconductor news, Director Richard J. Hendrix sold 40,000 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $4.54, for a total value of $181,600.00. Following the completion of the sale, the director now directly owns 316,709 shares of the company’s stock, valued at $1,437,858.86. This represents a 11.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 31.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Navitas Semiconductor

Institutional investors and hedge funds have recently modified their holdings of the company. DRW Securities LLC bought a new stake in Navitas Semiconductor in the second quarter valued at about $46,000. Wedbush Securities Inc. bought a new stake in shares of Navitas Semiconductor in the 2nd quarter valued at approximately $49,000. Algert Global LLC acquired a new stake in shares of Navitas Semiconductor during the second quarter worth approximately $50,000. Benjamin Edwards Inc. acquired a new stake in shares of Navitas Semiconductor during the third quarter worth approximately $36,000. Finally, Bleakley Financial Group LLC acquired a new position in shares of Navitas Semiconductor in the 3rd quarter worth approximately $41,000. 46.14% of the stock is currently 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.