Robert W. Baird Cuts Navitas Semiconductor (NASDAQ:NVTS) Price Target to $8.00

Navitas Semiconductor (NASDAQ:NVTSGet Rating) had its price target lowered by Robert W. Baird from $12.00 to $8.00 in a report published on Thursday morning, The Fly reports.

Other research analysts have also issued reports about the company. Needham & Company LLC increased their target price on Navitas Semiconductor from $6.00 to $8.00 and gave the stock a buy rating in a research report on Tuesday, August 16th. Deutsche Bank Aktiengesellschaft cut their target price on Navitas Semiconductor from $8.00 to $7.00 and set a buy rating on the stock in a research report on Tuesday, October 18th. Finally, Rosenblatt Securities cut their target price on Navitas Semiconductor from $15.00 to $12.00 and set a buy rating on the stock in a research report on Tuesday, August 16th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Navitas Semiconductor presently has an average rating of Moderate Buy and a consensus price target of $10.14.

Navitas Semiconductor Trading Up 11.1 %

Shares of Navitas Semiconductor stock opened at $4.89 on Thursday. Navitas Semiconductor has a fifty-two week low of $3.51 and a fifty-two week high of $22.19. The firm has a market cap of $614.68 million, a PE ratio of -8.15 and a beta of 2.18. The business’s fifty day moving average is $4.78 and its two-hundred day moving average is $5.39. The company has a quick ratio of 16.19, a current ratio of 17.09 and a debt-to-equity ratio of 0.01.

Navitas Semiconductor (NASDAQ:NVTSGet Rating) last issued its earnings results on Monday, August 15th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.06). The firm had revenue of $8.61 million during the quarter, compared to analysts’ expectations of $8.20 million. Navitas Semiconductor had a negative return on equity of 51.88% and a negative net margin of 118.66%. Analysts anticipate that Navitas Semiconductor will post -0.29 earnings per share for the current year.

Institutional Trading of Navitas Semiconductor

Large investors have recently modified their holdings of the business. Royal Bank of Canada grew its stake in shares of Navitas Semiconductor by 220.0% during the first quarter. Royal Bank of Canada now owns 9,070 shares of the company’s stock valued at $93,000 after acquiring an additional 6,236 shares in the last quarter. Privium Fund Management B.V. acquired a new position in Navitas Semiconductor in the first quarter worth about $103,000. Beacon Pointe Advisors LLC acquired a new position in Navitas Semiconductor in the second quarter worth about $39,000. Verition Fund Management LLC acquired a new position in Navitas Semiconductor in the second quarter worth about $40,000. Finally, Legal & General Group Plc acquired a new position in Navitas Semiconductor in the second quarter worth about $41,000. 22.70% of the stock is currently owned by institutional investors and hedge funds.

Navitas Semiconductor Company Profile

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Navitas Semiconductor Corporation designs, develops, and markets gallium nitride (GaN) power integrated circuits used in power conversion and charging. It operates in the United States, Ireland, Germany, Italy, Belgium, China, Taiwan, and the Philippines. The company was incorporated in 2013 and is based in El Segundo, California.

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