Brokerages Set Navitas Semiconductor Co. (NASDAQ:NVTS) PT at $4.75

Navitas Semiconductor Co. (NASDAQ:NVTS) has earned an average recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $4.75.

NVTS has been the subject of a number of research analyst reports. Rosenblatt Securities reissued a “buy” rating and issued a $7.50 target price on shares of Navitas Semiconductor in a research report on Thursday, October 31st. Robert W. Baird reduced their price objective on Navitas Semiconductor from $7.00 to $5.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Navitas Semiconductor from $6.00 to $4.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Finally, Craig Hallum decreased their target price on shares of Navitas Semiconductor from $6.50 to $4.25 and set a “buy” rating for the company in a research note on Tuesday, November 5th.

Navitas Semiconductor Stock Down 2.2 %

Shares of Navitas Semiconductor stock opened at $4.03 on Friday. The firm has a market capitalization of $752.79 million, a P/E ratio of -9.60 and a beta of 2.37. Navitas Semiconductor has a 52 week low of $1.75 and a 52 week high of $8.39. The firm’s 50 day moving average is $2.85 and its two-hundred day moving average is $3.11.

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

Insiders Place Their Bets

In other news, Director Richard J. Hendrix sold 40,000 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $4.54, for a total transaction of $181,600.00. Following the transaction, the director now directly owns 316,709 shares of the company’s stock, valued at $1,437,858.86. This represents a 11.21 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 31.80% of the stock is currently owned by insiders.

Institutional Trading of Navitas Semiconductor

Several hedge funds and other institutional investors have recently made changes to their positions in NVTS. Benjamin Edwards Inc. purchased a new stake in shares of Navitas Semiconductor during the 3rd quarter worth approximately $36,000. Bleakley Financial Group LLC acquired a new stake in Navitas Semiconductor in the third quarter valued at $41,000. GSA Capital Partners LLP purchased a new position in shares of Navitas Semiconductor in the third quarter valued at $44,000. DRW Securities LLC acquired a new position in shares of Navitas Semiconductor during the 2nd quarter worth $46,000. Finally, Wedbush Securities Inc. purchased a new stake in shares of Navitas Semiconductor in the 2nd quarter worth about $49,000. Institutional investors and hedge funds own 46.14% of the company’s stock.

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.