Navitas Semiconductor Co. (NASDAQ:NVTS) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Navitas Semiconductor Co. (NASDAQ:NVTS) have been given an average recommendation of “Moderate Buy” by the six research firms that are presently covering the company, MarketBeat reports. Three analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $9.82.

NVTS has been the subject of a number of recent analyst reports. Rosenblatt Securities restated a “buy” rating and set a $12.00 price target on shares of Navitas Semiconductor in a report on Friday, March 1st. Northland Securities started coverage on Navitas Semiconductor in a research note on Tuesday, January 16th. They set a “market perform” rating for the company. Finally, Needham & Company LLC decreased their price target on Navitas Semiconductor from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Friday, March 1st.

Insider Activity

In related news, EVP Ranbir Singh sold 10,925 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $4.80, for a total transaction of $52,440.00. Following the transaction, the executive vice president now owns 29,357 shares of the company’s stock, valued at approximately $140,913.60. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Navitas Semiconductor news, CEO Eugene Sheridan sold 38,431 shares of the business’s 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 owns 3,061,631 shares in the company, valued at $14,695,828.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Ranbir Singh sold 10,925 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $4.80, for a total value of $52,440.00. Following the sale, the executive vice president now directly 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 ninety days, insiders sold 73,429 shares of company stock valued at $352,459. 36.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. 180 Wealth Advisors LLC boosted its stake in shares of Navitas Semiconductor by 91.2% in the 1st quarter. 180 Wealth Advisors LLC now owns 32,158 shares of the company’s stock valued at $153,000 after buying an additional 15,335 shares during the period. Penn Capital Management Company LLC raised its holdings in Navitas Semiconductor by 9.0% in the fourth quarter. Penn Capital Management Company LLC now owns 1,360,204 shares of the company’s stock valued at $10,992,000 after acquiring an additional 112,551 shares in the last quarter. G2 Investment Partners Management LLC purchased a new position in Navitas Semiconductor in the fourth quarter worth approximately $574,000. Masters Capital Management LLC grew its holdings in Navitas Semiconductor by 55.3% during the 4th quarter. Masters Capital Management LLC now owns 1,700,000 shares of the company’s stock worth $13,719,000 after acquiring an additional 605,000 shares in the last quarter. Finally, Intrinsic Edge Capital Management LLC increased its position in shares of Navitas Semiconductor by 91.6% in the 4th quarter. Intrinsic Edge Capital Management LLC now owns 2,717,692 shares of the company’s stock valued at $21,932,000 after purchasing an additional 1,299,524 shares during the last quarter. 46.14% of the stock is owned by institutional investors and hedge funds.

Navitas Semiconductor Stock Performance

NASDAQ NVTS opened at $4.46 on Friday. Navitas Semiconductor has a fifty-two week low of $3.54 and a fifty-two week high of $11.16. The firm has a market capitalization of $799.47 million, a P/E ratio of -5.07 and a beta of 2.54. The stock’s fifty day moving average is $4.83 and its two-hundred day moving average is $6.02.

Navitas Semiconductor (NASDAQ:NVTS) last announced its quarterly 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. Navitas Semiconductor had a negative net margin of 183.04% and a negative return on equity of 18.81%. The firm had revenue of $26.06 million for the quarter, compared to analysts’ expectations of $25.68 million. As a group, sell-side analysts forecast that Navitas Semiconductor will post -0.46 EPS for the current 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.