Navitas Semiconductor (NASDAQ:NVTS) Given New $5.00 Price Target at Robert W. Baird

Navitas Semiconductor (NASDAQ:NVTS) had its price objective trimmed by Robert W. Baird from $7.00 to $5.00 in a research note released on Tuesday morning, Benzinga reports. The brokerage currently has an outperform rating on the stock.

NVTS has been the topic of a number of other reports. Morgan Stanley cut their target price on Navitas Semiconductor from $4.60 to $3.50 and set an “equal weight” rating on the stock in a research note on Tuesday, August 6th. Needham & Company LLC lowered their price target on Navitas Semiconductor from $7.00 to $5.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft lowered their price target on Navitas Semiconductor from $7.00 to $6.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Rosenblatt Securities reissued a “buy” rating and set a $7.50 price target on shares of Navitas Semiconductor in a report on Thursday, October 31st. Finally, Craig Hallum lowered their price target on Navitas Semiconductor from $7.50 to $6.50 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $4.75.

Navitas Semiconductor Stock Performance

NVTS stock opened at $2.36 on Tuesday. The stock has a market capitalization of $432.12 million, a price-to-earnings ratio of -8.43 and a beta of 2.36. Navitas Semiconductor has a 1 year low of $2.14 and a 1 year high of $8.44. The stock’s fifty day moving average is $2.51 and its two-hundred day moving average is $3.44.

Navitas Semiconductor (NASDAQ:NVTS) last posted its earnings results on Monday, November 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.06). The company had revenue of $21.68 million for the quarter, compared to analysts’ expectations of $21.93 million. Navitas Semiconductor had a negative return on equity of 22.29% and a negative net margin of 55.70%. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same period last year, the business posted ($0.10) earnings per share. As a group, analysts predict that Navitas Semiconductor will post -0.53 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director David Moxam sold 33,000 shares of Navitas Semiconductor stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $3.13, for a total transaction of $103,290.00. Following the transaction, the director now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director David Moxam sold 33,000 shares of Navitas Semiconductor stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $3.13, for a total transaction of $103,290.00. Following the transaction, the director now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Eugene Sheridan sold 193,662 shares of Navitas Semiconductor stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $3.03, for a total value of $586,795.86. Following the transaction, the chief executive officer now directly owns 2,149,631 shares in the company, valued at approximately $6,513,381.93. 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 a total of 829,852 shares of company stock valued at $2,528,252 over the last three months. Company insiders own 31.80% of the company’s stock.

Hedge Funds Weigh In On Navitas Semiconductor

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. ProShare Advisors LLC boosted its position in shares of Navitas Semiconductor by 12.5% in the 1st quarter. ProShare Advisors LLC now owns 20,348 shares of the company’s stock valued at $97,000 after purchasing an additional 2,258 shares during the period. Ensign Peak Advisors Inc boosted its position in Navitas Semiconductor by 5.2% during the 2nd quarter. Ensign Peak Advisors Inc now owns 77,245 shares of the company’s stock worth $304,000 after acquiring an additional 3,800 shares during the period. Commonwealth Equity Services LLC boosted its position in Navitas Semiconductor by 5.4% during the 2nd quarter. Commonwealth Equity Services LLC now owns 77,940 shares of the company’s stock worth $306,000 after acquiring an additional 4,000 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Navitas Semiconductor by 16.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,646 shares of the company’s stock worth $151,000 after acquiring an additional 4,533 shares during the period. Finally, Swiss National Bank boosted its position in Navitas Semiconductor by 2.9% during the 1st quarter. Swiss National Bank now owns 246,700 shares of the company’s stock worth $1,177,000 after acquiring an additional 7,000 shares during the period. Institutional investors and hedge funds 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.