Navitas Semiconductor Co. (NASDAQ:NVTS) Receives $4.75 Consensus Target Price from Analysts

Shares of Navitas Semiconductor Co. (NASDAQ:NVTS) have been given a consensus recommendation of “Moderate Buy” by the eight brokerages that are currently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $4.75.

A number of research analysts recently weighed in on NVTS shares. Morgan Stanley decreased their target price on shares of Navitas Semiconductor from $4.60 to $3.50 and set an “equal weight” rating for the company in a research report on Tuesday, August 6th. Craig Hallum dropped their target price on shares of Navitas Semiconductor from $6.50 to $4.25 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Navitas Semiconductor from $6.00 to $4.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Needham & Company LLC cut their price target on Navitas Semiconductor from $7.00 to $5.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Finally, Robert W. Baird cut their price target on shares of Navitas Semiconductor from $7.00 to $5.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th.

Insider Activity

In other Navitas Semiconductor news, CEO Eugene Sheridan sold 453,190 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $3.03, for a total value of $1,373,165.70. Following the transaction, the chief executive officer now directly owns 2,608,441 shares of the company’s stock, valued at approximately $7,903,576.23. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Eugene Sheridan sold 453,190 shares of the business’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $3.03, for a total transaction of $1,373,165.70. Following the transaction, the chief executive officer now owns 2,608,441 shares in the company, valued at $7,903,576.23. The trade was a 0.00 % 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 David Moxam sold 33,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $3.13, for a total transaction of $103,290.00. Following the completion of the sale, the director now owns 867,848 shares of the company’s stock, valued at $2,716,364.24. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 829,852 shares of company stock valued at $2,528,252 in the last ninety days. 31.80% of the stock is owned by company insiders.

Institutional Trading of Navitas Semiconductor

Several hedge funds have recently bought and sold shares of the business. Bleakley Financial Group LLC bought a new position in Navitas Semiconductor in the 3rd quarter valued at about $41,000. GSA Capital Partners LLP purchased a new stake in shares of Navitas Semiconductor during the third quarter valued at approximately $44,000. DRW Securities LLC purchased a new stake in shares of Navitas Semiconductor during the 2nd quarter valued at $46,000. Wedbush Securities Inc. bought a new stake in Navitas Semiconductor in the second quarter worth about $49,000. Finally, Algert Global LLC purchased a new stake in shares of Navitas Semiconductor during the 2nd quarter worth approximately $50,000. Institutional investors and hedge funds own 46.14% of the company’s stock.

Navitas Semiconductor Trading Down 5.6 %

Shares of NVTS stock opened at $2.04 on Thursday. The company has a market capitalization of $373.53 million, a P/E ratio of -4.86 and a beta of 2.36. The stock has a 50 day moving average of $2.46 and a two-hundred day moving average of $3.40. Navitas Semiconductor has a 12 month low of $1.98 and a 12 month high of $8.44.

Navitas Semiconductor (NASDAQ:NVTS) last announced its quarterly earnings results on Monday, November 4th. The company reported ($0.06) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.06). Navitas Semiconductor had a negative return on equity of 23.64% and a negative net margin of 84.61%. The firm had revenue of $21.68 million for the quarter, compared to analysts’ expectations of $21.93 million. During the same period in the prior year, the business posted ($0.10) earnings per share. The business’s revenue was down 1.4% compared to the same quarter last year. Sell-side analysts predict that Navitas Semiconductor will post -0.53 earnings per share for the current fiscal year.

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.