Navitas Semiconductor (NASDAQ:NVTS) Rating Reiterated by Rosenblatt Securities

Navitas Semiconductor (NASDAQ:NVTS)‘s stock had its “buy” rating reaffirmed by equities researchers at Rosenblatt Securities in a note issued to investors on Friday, Benzinga reports. They presently have a $12.00 target price on the stock. Rosenblatt Securities’ price objective would suggest a potential upside of 164.32% from the company’s current price.

Several other analysts have also commented on NVTS. Northland Securities began coverage on shares of Navitas Semiconductor in a research note on Tuesday, January 16th. They set a “market perform” rating for the company. Needham & Company LLC dropped their target price on shares of Navitas Semiconductor from $10.00 to $9.00 and set a “buy” rating for the company in a report on Friday, March 1st. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $9.82.

Navitas Semiconductor Stock Up 4.6 %

Shares of Navitas Semiconductor stock traded up $0.20 during trading on Friday, reaching $4.54. The company’s stock had a trading volume of 1,069,249 shares, compared to its average volume of 2,839,370. The company has a 50-day simple moving average of $4.69 and a two-hundred day simple moving average of $5.98. The company has a market cap of $813.80 million, a price-to-earnings ratio of -4.95 and a beta of 2.52. Navitas Semiconductor has a 1-year low of $3.54 and a 1-year high of $11.16.

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

Insider Transactions at Navitas Semiconductor

In related news, EVP Ranbir Singh sold 10,925 shares of Navitas Semiconductor 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 completion of the transaction, the executive vice president now directly owns 29,357 shares in the company, valued at $140,913.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Eugene Sheridan sold 38,431 shares of Navitas Semiconductor stock in a transaction dated Thursday, March 14th. The stock was 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 directly owns 3,061,631 shares in the company, valued at $14,695,828.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ranbir Singh sold 10,925 shares of Navitas Semiconductor 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 directly owns 29,357 shares in the company, valued at approximately $140,913.60. The disclosure for this sale can be found here. Insiders have sold 73,429 shares of company stock worth $352,459 over the last quarter. 36.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Navitas Semiconductor

Several institutional investors and hedge funds have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. raised its position in shares of 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 during the last quarter. Federated Hermes Inc. grew its holdings in Navitas Semiconductor by 9,612.6% during the 3rd quarter. Federated Hermes Inc. now owns 33,800 shares of the company’s stock worth $235,000 after acquiring an additional 33,452 shares during the period. Vanguard Group Inc. lifted its position in Navitas Semiconductor by 14.2% in the 3rd quarter. Vanguard Group Inc. now owns 8,572,707 shares of the company’s stock valued at $59,580,000 after acquiring an additional 1,064,010 shares in the last quarter. Swiss National Bank lifted its position in Navitas Semiconductor by 16.6% during the 3rd quarter. Swiss National Bank now owns 265,400 shares of the company’s stock worth $1,845,000 after buying an additional 37,700 shares in the last quarter. Finally, Graham Capital Management L.P. acquired a new position in Navitas Semiconductor in the 3rd quarter valued at about $410,000. 46.14% of the stock is currently owned by hedge funds and other institutional investors.

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.