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

Navitas Semiconductor Co. (NASDAQ:NVTS) has been assigned a consensus rating of “Moderate Buy” from the eight ratings firms that are currently covering the firm, 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 twelve-month target price among analysts that have updated their coverage on the stock in the last year is $6.00.

A number of research firms recently issued reports on NVTS. Needham & Company LLC decreased their price target on shares of Navitas Semiconductor from $7.00 to $5.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Craig Hallum decreased their target price on Navitas Semiconductor from $7.50 to $6.50 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Rosenblatt Securities restated a “buy” rating and set a $10.00 price target on shares of Navitas Semiconductor in a research report on Friday, August 2nd. Morgan Stanley reduced their price target on Navitas Semiconductor from $4.60 to $3.50 and set an “equal weight” rating on the stock in a research note on Tuesday, August 6th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on Navitas Semiconductor from $7.00 to $6.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th.

Insider Activity

In related news, Director David Moxam sold 33,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $3.13, for a total value of $103,290.00. Following the transaction, the director now owns 867,848 shares in the company, valued at approximately $2,716,364.24. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Navitas Semiconductor news, Director David Moxam sold 33,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $3.13, for a total transaction of $103,290.00. Following the completion of the sale, the director now directly owns 867,848 shares in the company, valued at approximately $2,716,364.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Daniel M. Kinzer sold 150,000 shares of Navitas Semiconductor stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $3.10, for a total transaction of $465,000.00. Following the completion of the transaction, the chief operating officer now directly owns 4,388,353 shares of the company’s stock, valued at $13,603,894.30. The disclosure for this sale can be found here. Insiders sold 829,852 shares of company stock worth $2,528,252 over the last three months. 31.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Navitas Semiconductor

Several institutional investors have recently added to or reduced their stakes in the business. ProShare Advisors LLC raised its stake in shares of Navitas Semiconductor by 12.5% in 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 during the last quarter. Laidlaw Wealth Management LLC raised its position in Navitas Semiconductor by 16.7% in the 4th quarter. Laidlaw Wealth Management LLC now owns 18,316 shares of the company’s stock worth $148,000 after buying an additional 2,618 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Navitas Semiconductor by 23.9% during the 4th quarter. Victory Capital Management Inc. now owns 15,842 shares of the company’s stock valued at $128,000 after acquiring an additional 3,052 shares during the period. Ensign Peak Advisors Inc boosted its holdings in shares of Navitas Semiconductor by 5.2% during the 2nd quarter. Ensign Peak Advisors Inc now owns 77,245 shares of the company’s stock valued at $304,000 after acquiring an additional 3,800 shares during the last quarter. Finally, Commonwealth Equity Services LLC grew its stake in shares of Navitas Semiconductor by 5.4% in the second quarter. Commonwealth Equity Services LLC now owns 77,940 shares of the company’s stock worth $306,000 after acquiring an additional 4,000 shares during the period. 46.14% of the stock is currently owned by hedge funds and other institutional investors.

Navitas Semiconductor Stock Performance

Shares of NVTS stock opened at $2.31 on Wednesday. Navitas Semiconductor has a fifty-two week low of $2.22 and a fifty-two week high of $8.44. The firm has a market cap of $422.96 million, a P/E ratio of -4.53 and a beta of 2.40. The business’s 50 day moving average price is $3.30 and its 200-day moving average price is $3.97.

Navitas Semiconductor (NASDAQ:NVTS) last released its quarterly earnings results on Monday, August 5th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.01). Navitas Semiconductor had a negative net margin of 55.70% and a negative return on equity of 22.29%. The company had revenue of $20.50 million during the quarter, compared to the consensus estimate of $20.01 million. During the same quarter last year, the firm earned ($0.12) EPS. The business’s revenue was up 13.3% on a year-over-year basis. As a group, equities analysts predict that Navitas Semiconductor will post -0.53 EPS for the current year.

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.