Navitas Semiconductor Co. (NASDAQ:NVTS) Receives $6.00 Average Price Target from Analysts

Navitas Semiconductor Co. (NASDAQ:NVTS) has received a consensus recommendation of “Moderate Buy” from the eight brokerages that are covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $6.00.

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

Insider Buying and Selling

In other Navitas Semiconductor news, Director David Moxam sold 33,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $3.13, for a total value of $103,290.00. Following the sale, the director now owns 867,848 shares of the company’s stock, valued at $2,716,364.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Navitas Semiconductor news, CEO Eugene Sheridan sold 453,190 shares of Navitas Semiconductor stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $3.03, for a total value of $1,373,165.70. Following the completion of the transaction, the chief executive officer now directly owns 2,608,441 shares of the company’s stock, valued at $7,903,576.23. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David Moxam sold 33,000 shares of the firm’s stock in a transaction that occurred on 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 owns 867,848 shares in the company, valued at $2,716,364.24. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 829,852 shares of company stock valued at $2,528,252 over the last quarter. Corporate insiders own 31.80% of the company’s stock.

Institutional Trading of Navitas Semiconductor

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. 180 Wealth Advisors LLC boosted its position in Navitas Semiconductor by 91.2% during the first quarter. 180 Wealth Advisors LLC now owns 32,158 shares of the company’s stock valued at $153,000 after buying an additional 15,335 shares during the period. Benjamin F. Edwards & Company Inc. raised its holdings 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 acquiring an additional 5,550 shares in the last quarter. Quantbot Technologies LP raised its stake in shares of Navitas Semiconductor by 550.4% in the first quarter. Quantbot Technologies LP now owns 40,565 shares of the company’s stock valued at $193,000 after acquiring an additional 34,328 shares during the period. SG Americas Securities LLC purchased a new stake in Navitas Semiconductor in the first quarter worth $65,000. Finally, Swiss National Bank grew its position in shares of Navitas Semiconductor by 2.9% during the 1st quarter. Swiss National Bank now owns 246,700 shares of the company’s stock worth $1,177,000 after buying an additional 7,000 shares in the last quarter. 46.14% of the stock is owned by institutional investors.

Navitas Semiconductor Price Performance

Shares of NVTS opened at $2.51 on Friday. The stock has a fifty day moving average price of $2.67 and a 200 day moving average price of $3.64. The company has a market cap of $459.58 million, a P/E ratio of -4.92 and a beta of 2.38. Navitas Semiconductor has a 12 month low of $2.14 and a 12 month high of $8.44.

Navitas Semiconductor (NASDAQ:NVTS) last released its quarterly earnings data on Monday, August 5th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $20.50 million for the quarter, compared to analyst estimates of $20.01 million. During the same period in the previous year, the business posted ($0.12) EPS. Navitas Semiconductor’s revenue for the quarter was up 13.3% on a year-over-year basis. As a group, research analysts anticipate that Navitas Semiconductor will post -0.53 earnings per share 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.