Navitas Semiconductor (NASDAQ:NVTS) Shares Gap Down to $4.58

Navitas Semiconductor Co. (NASDAQ:NVTS) shares gapped down prior to trading on Monday . The stock had previously closed at $4.58, but opened at $4.46. Navitas Semiconductor shares last traded at $4.55, with a volume of 687,062 shares traded.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Rosenblatt Securities reiterated a “buy” rating and issued a $12.00 price target on shares of Navitas Semiconductor in a research report on Friday, March 1st. Needham & Company LLC decreased their price target on shares of Navitas Semiconductor from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Friday, March 1st. Finally, Northland Securities started coverage on shares of Navitas Semiconductor in a research note on Tuesday, January 16th. They issued a “market perform” rating for the company. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Navitas Semiconductor presently has an average rating of “Moderate Buy” and a consensus price target of $9.82.

Navitas Semiconductor Stock Performance

The company’s 50 day moving average is $5.38 and its two-hundred day moving average is $6.26.

Navitas Semiconductor (NASDAQ:NVTS) last posted its earnings results on Thursday, February 29th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.02. The company had revenue of $26.06 million during the quarter, compared to analysts’ expectations of $25.68 million. Navitas Semiconductor had a negative net margin of 183.04% and a negative return on equity of 18.81%. As a group, equities analysts predict that Navitas Semiconductor Co. will post -0.46 EPS for the current fiscal year.

Insiders Place Their Bets

In other Navitas Semiconductor news, CEO Eugene Sheridan sold 38,431 shares of Navitas Semiconductor stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $4.80, for a total value of $184,468.80. Following the completion of the transaction, the chief executive officer now directly owns 3,061,631 shares of the company’s stock, valued at approximately $14,695,828.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Navitas Semiconductor news, COO Daniel M. Kinzer sold 24,073 shares of Navitas Semiconductor stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $4.80, for a total value of $115,550.40. Following the completion of the transaction, the chief operating officer now directly owns 4,538,353 shares of the company’s stock, valued at approximately $21,784,094.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Eugene Sheridan sold 38,431 shares of Navitas Semiconductor stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $4.80, for a total transaction of $184,468.80. Following the completion of the transaction, the chief executive officer now directly owns 3,061,631 shares of the company’s stock, valued at $14,695,828.80. The disclosure for this sale can be found here. Insiders sold 73,429 shares of company stock valued at $352,459 in the last three months. Corporate insiders own 36.80% of the company’s stock.

Institutional Investors Weigh In On Navitas Semiconductor

Institutional investors have recently made changes to their positions in the company. Mariner LLC bought a new stake in shares of Navitas Semiconductor in the 4th quarter worth about $35,000. Green Square Capital Advisors LLC bought a new stake in shares of Navitas Semiconductor in the 4th quarter worth about $38,000. Verition Fund Management LLC bought a new stake in shares of Navitas Semiconductor in the 2nd quarter worth about $40,000. Legal & General Group Plc bought a new stake in shares of Navitas Semiconductor in the 2nd quarter worth about $41,000. Finally, Laidlaw Wealth Management LLC bought a new stake in shares of Navitas Semiconductor in the 4th quarter worth about $55,000. Institutional investors 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.