Navitas Semiconductor Co. (NASDAQ:NVTS) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Navitas Semiconductor Co. (NASDAQ:NVTS) have received an average rating of “Moderate Buy” from the seven research firms that are presently covering the firm, MarketBeat reports. Two 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 issued ratings on the stock in the last year is $4.75.

A number of brokerages have weighed in on NVTS. Rosenblatt Securities reiterated a “buy” rating and set a $7.50 target price on shares of Navitas Semiconductor in a research report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Navitas Semiconductor from $6.00 to $4.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Craig Hallum lowered their target price on shares of Navitas Semiconductor from $6.50 to $4.25 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Finally, Robert W. Baird dropped their target price 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.

Navitas Semiconductor Stock Down 1.5 %

Shares of NVTS stock opened at $3.26 on Tuesday. Navitas Semiconductor has a 12-month low of $1.75 and a 12-month high of $7.40. The company has a 50 day moving average of $3.18 and a 200-day moving average of $3.04. The firm has a market cap of $608.97 million, a P/E ratio of -7.76 and a beta of 2.23.

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

Insider Activity

In related news, Director Richard J. Hendrix sold 40,000 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 316,709 shares in the company, valued at approximately $1,437,858.86. This represents a 11.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 31.80% of the company’s stock.

Hedge Funds Weigh In On Navitas Semiconductor

A number of hedge funds and other institutional investors have recently bought and sold shares of NVTS. DRW Securities LLC purchased a new stake in shares of Navitas Semiconductor during the 2nd quarter valued at $46,000. Algert Global LLC purchased a new stake in Navitas Semiconductor during the second quarter valued at about $50,000. Benjamin Edwards Inc. bought a new stake in Navitas Semiconductor during the third quarter worth about $36,000. Bleakley Financial Group LLC purchased a new position in shares of Navitas Semiconductor in the 3rd quarter worth about $41,000. Finally, GSA Capital Partners LLP bought a new position in shares of Navitas Semiconductor during the 3rd quarter valued at about $44,000. Hedge funds and other institutional investors own 46.14% of the company’s stock.

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.