Navitas Semiconductor Co. (NASDAQ:NVTS) Receives $4.75 Consensus Price Target from Analysts

Navitas Semiconductor Co. (NASDAQ:NVTS) has earned an average rating of “Moderate Buy” from the eight research firms that are presently 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 price objective among analysts that have issued ratings on the stock in the last year is $4.75.

A number of equities analysts have recently weighed in on the company. Robert W. Baird cut their price target on Navitas Semiconductor from $7.00 to $5.00 and set an “outperform” rating for the company in a report on Tuesday, November 5th. Morgan Stanley lowered their price target on Navitas Semiconductor from $4.60 to $3.50 and set an “equal weight” rating for the company in a research report on Tuesday, August 6th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $7.50 target price on shares of Navitas Semiconductor in a research report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft cut their price target on Navitas Semiconductor from $6.00 to $4.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Finally, Craig Hallum cut their price target on Navitas Semiconductor from $6.50 to $4.25 and set a “buy” rating on the stock in a research note on Tuesday, November 5th.

Insider Activity

In related news, 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 sale, the chief operating officer now directly owns 4,388,353 shares of the company’s stock, valued at $13,603,894.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Navitas Semiconductor news, Director David Moxam sold 33,000 shares of Navitas Semiconductor stock in a transaction 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 of the company’s stock, valued at approximately $2,716,364.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Daniel M. Kinzer sold 150,000 shares of Navitas Semiconductor stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $3.10, for a total transaction of $465,000.00. Following the sale, the chief operating officer now directly owns 4,388,353 shares of the company’s stock, valued at $13,603,894.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 829,852 shares of company stock valued at $2,528,252. 31.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Navitas Semiconductor

A number of large investors have recently added to or reduced their stakes in NVTS. Bleakley Financial Group LLC acquired a new position in shares of Navitas Semiconductor during the 3rd quarter worth about $41,000. GSA Capital Partners LLP bought a new position in Navitas Semiconductor in the 3rd quarter valued at about $44,000. DRW Securities LLC bought a new position in shares of Navitas Semiconductor during the second quarter worth approximately $46,000. Wedbush Securities Inc. bought a new position in shares of Navitas Semiconductor during the second quarter worth approximately $49,000. Finally, Algert Global LLC bought a new position in shares of Navitas Semiconductor during the second quarter worth approximately $50,000. Institutional investors own 46.14% of the company’s stock.

Navitas Semiconductor Stock Down 1.8 %

NASDAQ:NVTS opened at $2.16 on Thursday. The stock’s 50 day moving average price is $2.46 and its 200 day moving average price is $3.41. The company has a market capitalization of $395.50 million, a PE ratio of -5.14 and a beta of 2.36. Navitas Semiconductor has a 52-week low of $2.13 and a 52-week high of $8.44.

Navitas Semiconductor (NASDAQ:NVTS) last announced its earnings results on Monday, November 4th. The company reported ($0.06) earnings per share for the quarter, meeting the consensus estimate of ($0.06). Navitas Semiconductor had a negative return on equity of 23.64% and a negative net margin of 84.61%. The company had revenue of $21.68 million for the quarter, compared to the consensus estimate of $21.93 million. During the same period last year, the business posted ($0.10) EPS. The company’s revenue was down 1.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Navitas Semiconductor will post -0.53 EPS for the current fiscal 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.