Navitas Semiconductor (NASDAQ:NVTS) Price Target Cut to $10.00 by Analysts at Craig Hallum

Navitas Semiconductor (NASDAQ:NVTSGet Rating) had its target price lowered by Craig Hallum from $20.00 to $10.00 in a report published on Friday morning, The Fly reports.

A number of other equities research analysts also recently weighed in on the stock. Zacks Investment Research raised shares of Navitas Semiconductor from a sell rating to a hold rating in a research note on Saturday, April 16th. Rosenblatt Securities began coverage on shares of Navitas Semiconductor in a research note on Wednesday, February 23rd. They issued a buy rating and a $15.00 target price on the stock. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Navitas Semiconductor from $13.00 to $9.00 in a research note on Friday. Needham & Company LLC began coverage on shares of Navitas Semiconductor in a research note on Thursday, February 17th. They issued a buy rating and a $16.00 target price on the stock. Finally, CJS Securities initiated coverage on shares of Navitas Semiconductor in a research note on Monday, March 28th. They issued an outperform rating on the stock. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Buy and an average target price of $16.57.

Shares of Navitas Semiconductor stock traded up $0.86 on Friday, reaching $6.67. The stock had a trading volume of 1,532,700 shares, compared to its average volume of 768,536. Navitas Semiconductor has a 1 year low of $5.34 and a 1 year high of $22.19. The company has a current ratio of 27.16, a quick ratio of 26.04 and a debt-to-equity ratio of 0.06. The stock’s 50 day moving average price is $8.29.

Navitas Semiconductor (NASDAQ:NVTSGet Rating) last announced its quarterly earnings results on Thursday, May 12th. The company reported ($0.08) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.08). The firm had revenue of $6.70 million during the quarter, compared to analysts’ expectations of $6.51 million. During the same period in the previous year, the company posted ($0.27) earnings per share. The company’s quarterly revenue was up 25.9% compared to the same quarter last year. On average, sell-side analysts predict that Navitas Semiconductor will post -0.3 earnings per share for the current year.

Institutional investors have recently modified their holdings of the company. Wells Fargo & Company MN bought a new position in shares of Navitas Semiconductor in the fourth quarter worth approximately $47,000. Bank of America Corp DE bought a new position in shares of Navitas Semiconductor in the fourth quarter worth approximately $66,000. Benjamin F. Edwards & Company Inc. bought a new position in shares of Navitas Semiconductor in the fourth quarter worth approximately $68,000. Privium Fund Management B.V. bought a new position in shares of Navitas Semiconductor in the first quarter worth approximately $103,000. Finally, Asset Planning Services Inc. LA ADV bought a new position in shares of Navitas Semiconductor in the first quarter worth approximately $105,000. Hedge funds and other institutional investors own 23.37% of the company’s stock.

Navitas Semiconductor Company Profile (Get Rating)

Navitas Semiconductor Corporation designs, develops, and sells gallium nitride (GaN) power integrated circuits in China, the United States, Taiwan, Korea, and internationally. The company was incorporated in 2013 and is based in Dublin, Ireland.

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