Navitas Semiconductor (NASDAQ:NVTS) Given Buy Rating at Rosenblatt Securities

Rosenblatt Securities reissued their buy rating on shares of Navitas Semiconductor (NASDAQ:NVTS) in a research note issued to investors on Friday, Benzinga reports. Rosenblatt Securities currently has a $12.00 target price on the stock.

NVTS has been the topic of several other reports. Northland Securities initiated coverage on Navitas Semiconductor in a research report on Tuesday, January 16th. They issued a market perform rating on the stock. Needham & Company LLC cut their price objective on Navitas Semiconductor from $10.00 to $9.00 and set a buy rating on the stock in a research report on Friday, March 1st. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $9.82.

Navitas Semiconductor Trading Up 3.2 %

Shares of Navitas Semiconductor stock opened at $4.80 on Friday. Navitas Semiconductor has a twelve month low of $3.54 and a twelve month high of $11.16. The business’s fifty day moving average price is $4.65 and its 200 day moving average price is $5.96.

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

Insider Buying and Selling

In related news, COO Daniel M. Kinzer sold 24,073 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $4.80, for a total value of $115,550.40. Following the transaction, the chief operating officer now owns 4,538,353 shares in the company, valued at $21,784,094.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, COO Daniel M. Kinzer sold 24,073 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $4.80, for a total value of $115,550.40. Following the transaction, the chief operating officer now owns 4,538,353 shares in the company, valued at $21,784,094.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Ranbir Singh sold 10,925 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $4.80, for a total value of $52,440.00. Following the sale, the executive vice president now owns 29,357 shares in the company, valued at approximately $140,913.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 73,429 shares of company stock worth $352,459. 36.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Navitas Semiconductor

Institutional investors and hedge funds have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its stake in Navitas Semiconductor by 37.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 905,524 shares of the company’s stock valued at $6,293,000 after buying an additional 248,143 shares in the last quarter. Federated Hermes Inc. raised its stake in Navitas Semiconductor by 9,612.6% during the third quarter. Federated Hermes Inc. now owns 33,800 shares of the company’s stock valued at $235,000 after buying an additional 33,452 shares in the last quarter. Vanguard Group Inc. raised its stake in Navitas Semiconductor by 14.2% during the third quarter. Vanguard Group Inc. now owns 8,572,707 shares of the company’s stock valued at $59,580,000 after buying an additional 1,064,010 shares in the last quarter. Swiss National Bank grew its holdings in shares of Navitas Semiconductor by 16.6% during the third quarter. Swiss National Bank now owns 265,400 shares of the company’s stock valued at $1,845,000 after purchasing an additional 37,700 shares during the last quarter. Finally, Graham Capital Management L.P. bought a new position in shares of Navitas Semiconductor during the third quarter valued at approximately $410,000. Institutional investors and hedge funds own 46.14% of the company’s stock.

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.