Navitas Semiconductor Co. (NASDAQ:NVTS) Receives $3.82 Consensus PT from Analysts

Navitas Semiconductor Co. (NASDAQ:NVTS) has been given a consensus recommendation of “Moderate Buy” by the seven analysts that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and five have given a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $3.54.

Several research firms recently weighed in on NVTS. Robert W. Baird decreased their target price on Navitas Semiconductor from $5.00 to $4.00 and set an “outperform” rating for the company in a research report on Wednesday, March 5th. Morgan Stanley downgraded Navitas Semiconductor from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $2.10 to $1.50 in a research report on Monday, April 7th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $4.00 target price on shares of Navitas Semiconductor in a research note on Tuesday. Finally, Needham & Company LLC decreased their price target on shares of Navitas Semiconductor from $4.00 to $3.00 and set a “buy” rating for the company in a report on Tuesday.

Navitas Semiconductor Stock Down 2.6 %

NVTS stock opened at $1.91 on Tuesday. Navitas Semiconductor has a 52 week low of $1.52 and a 52 week high of $5.14. The business has a fifty day simple moving average of $2.05 and a 200-day simple moving average of $2.68. The company has a market cap of $362.96 million, a price-to-earnings ratio of -4.54 and a beta of 2.24.

Navitas Semiconductor (NASDAQ:NVTS) last posted its quarterly earnings results on Monday, May 5th. The company reported ($0.06) EPS for the quarter, meeting the consensus estimate of ($0.06). The business had revenue of $14.02 million during the quarter, compared to analyst estimates of $14.01 million. Navitas Semiconductor had a negative net margin of 84.61% and a negative return on equity of 23.64%. The company’s quarterly revenue was down 39.7% on a year-over-year basis. During the same period in the previous year, the business posted ($0.06) EPS. As a group, analysts expect that Navitas Semiconductor will post -0.51 earnings per share for the current fiscal year.

Insider Activity at Navitas Semiconductor

In other news, CFO Todd Glickman sold 13,644 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $2.59, for a total transaction of $35,337.96. Following the completion of the transaction, the chief financial officer now directly owns 684,497 shares of the company’s stock, valued at $1,772,847.23. This represents a 1.95 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Brian Long sold 47,189 shares of the stock in a transaction on Friday, March 21st. The stock was sold at an average price of $2.36, for a total value of $111,366.04. Following the transaction, the director now owns 31,460 shares of the company’s stock, valued at $74,245.60. The trade was a 60.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 74,477 shares of company stock valued at $182,042 in the last three months. Corporate insiders own 31.80% of the company’s stock.

Institutional Trading of Navitas Semiconductor

Several large investors have recently modified their holdings of the business. Bank of America Corp DE raised its stake in Navitas Semiconductor by 180.5% during the fourth quarter. Bank of America Corp DE now owns 1,234,375 shares of the company’s stock valued at $4,407,000 after buying an additional 794,371 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of Navitas Semiconductor in the fourth quarter worth approximately $1,170,000. Edge Capital Group LLC purchased a new position in Navitas Semiconductor during the fourth quarter valued at $987,000. DnB Asset Management AS increased its holdings in Navitas Semiconductor by 109.8% in the 4th quarter. DnB Asset Management AS now owns 506,124 shares of the company’s stock worth $1,807,000 after acquiring an additional 264,906 shares in the last quarter. Finally, Corbin Capital Partners L.P. purchased a new position in Navitas Semiconductor in the 4th quarter worth approximately $773,000. 46.14% of the stock is owned by institutional investors.

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.