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

Navitas Semiconductor Co. (NASDAQ:NVTS) has received an average recommendation of “Moderate Buy” from the eight analysts that are currently covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $7.41.

A number of research firms recently weighed in on NVTS. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Navitas Semiconductor from $9.00 to $7.00 and set a “buy” rating for the company in a research report on Friday, May 10th. Needham & Company LLC lowered their price target on Navitas Semiconductor from $9.00 to $7.00 and set a “buy” rating for the company in a research report on Friday, May 10th. Robert W. Baird cut their price objective on Navitas Semiconductor from $12.00 to $7.00 and set an “outperform” rating on the stock in a report on Friday, May 10th. Rosenblatt Securities restated a “buy” rating and set a $10.00 target price on shares of Navitas Semiconductor in a report on Friday, June 7th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $4.00 target price (down from $10.00) on shares of Navitas Semiconductor in a research report on Monday, May 13th.

Insider Activity

In other news, Director Dipender Saluja sold 87,059 shares of Navitas Semiconductor stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $4.45, for a total value of $387,412.55. Following the completion of the transaction, the director now owns 5,944,420 shares in the company, valued at approximately $26,452,669. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 31.80% of the company’s stock.

Institutional Investors Weigh In On Navitas Semiconductor

A number of hedge funds and other institutional investors have recently modified their holdings of NVTS. Tower Research Capital LLC TRC lifted its stake in Navitas Semiconductor by 241.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,043 shares of the company’s stock worth $57,000 after purchasing an additional 4,982 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its position in shares of Navitas Semiconductor by 72.5% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 13,200 shares of the company’s stock worth $63,000 after buying an additional 5,550 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Navitas Semiconductor in the 1st quarter valued at $65,000. Atria Wealth Solutions Inc. purchased a new position in shares of Navitas Semiconductor in the 4th quarter valued at $81,000. Finally, ProShare Advisors LLC raised its stake in Navitas Semiconductor by 12.5% during the 1st quarter. ProShare Advisors LLC now owns 20,348 shares of the company’s stock worth $97,000 after acquiring an additional 2,258 shares in the last quarter. 46.14% of the stock is currently owned by institutional investors and hedge funds.

Navitas Semiconductor Stock Up 1.3 %

Shares of Navitas Semiconductor stock opened at $4.03 on Friday. The firm has a market cap of $737.89 million, a PE ratio of -7.90 and a beta of 2.42. Navitas Semiconductor has a 52 week low of $3.48 and a 52 week high of $11.16. The business’s fifty day simple moving average is $4.16 and its 200-day simple moving average is $5.24.

Navitas Semiconductor (NASDAQ:NVTS) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.02). The company had revenue of $23.18 million during the quarter, compared to analysts’ expectations of $23.15 million. Navitas Semiconductor had a negative net margin of 97.75% and a negative return on equity of 21.22%. As a group, equities analysts expect that Navitas Semiconductor will post -0.53 earnings per share for the current year.

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.