Analysts Set Navitas Semiconductor Co. (NASDAQ:NVTS) PT at $6.00

Navitas Semiconductor Co. (NASDAQ:NVTS) has earned a consensus rating of “Moderate Buy” from the eight analysts that are covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $6.00.

A number of brokerages have recently issued reports on NVTS. Needham & Company LLC cut their target price on Navitas Semiconductor from $7.00 to $5.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Morgan Stanley dropped their price target on Navitas Semiconductor from $4.60 to $3.50 and set an “equal weight” rating on the stock in a research report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft dropped their price target on Navitas Semiconductor from $7.00 to $6.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Craig Hallum dropped their price target on 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 research report on Friday, August 2nd.

Insider Buying and Selling at Navitas Semiconductor

In other Navitas Semiconductor news, CEO Eugene Sheridan sold 453,190 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now owns 2,608,441 shares in the company, valued at $7,903,576.23. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Eugene Sheridan sold 453,190 shares of the company’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $3.03, for a total transaction of $1,373,165.70. Following the completion of the sale, the chief executive officer now owns 2,608,441 shares in the company, valued at approximately $7,903,576.23. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director David Moxam sold 33,000 shares of the company’s stock in a transaction dated 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 approximately $2,716,364.24. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 829,852 shares of company stock worth $2,528,252 over the last 90 days. 31.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Navitas Semiconductor

Several large investors have recently made changes to their positions in NVTS. Point72 Asset Management L.P. boosted its stake in shares of Navitas Semiconductor by 2,656.2% during the 2nd quarter. Point72 Asset Management L.P. now owns 4,283,350 shares of the company’s stock worth $16,834,000 after acquiring an additional 4,127,940 shares in the last quarter. Masters Capital Management LLC boosted its stake in Navitas Semiconductor by 90.0% during the 2nd quarter. Masters Capital Management LLC now owns 1,900,000 shares of the company’s stock valued at $7,467,000 after purchasing an additional 900,000 shares during the period. Squarepoint Ops LLC bought a new stake in Navitas Semiconductor during the 2nd quarter valued at approximately $2,364,000. Kodai Capital Management LP boosted its stake in Navitas Semiconductor by 14.3% during the 1st quarter. Kodai Capital Management LP now owns 4,514,576 shares of the company’s stock valued at $21,535,000 after purchasing an additional 565,463 shares during the period. Finally, Rice Hall James & Associates LLC bought a new stake in Navitas Semiconductor during the 2nd quarter valued at approximately $2,151,000. Institutional investors own 46.14% of the company’s stock.

Navitas Semiconductor Stock Down 1.2 %

Shares of Navitas Semiconductor stock opened at $2.56 on Friday. The stock’s fifty day moving average is $2.63 and its 200-day moving average is $3.61. The firm has a market capitalization of $468.74 million, a PE ratio of -5.02 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 announced its earnings results 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). The company had revenue of $20.50 million for the quarter, compared to analyst estimates of $20.01 million. Navitas Semiconductor had a negative return on equity of 22.29% and a negative net margin of 55.70%. The firm’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same period last year, the firm earned ($0.12) earnings per share. Analysts expect that Navitas Semiconductor will post -0.53 EPS 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.