Navitas Semiconductor (NASDAQ:NVTS) PT Lowered to $10.00 at Rosenblatt Securities

Navitas Semiconductor (NASDAQ:NVTS) had its price objective decreased by investment analysts at Rosenblatt Securities from $12.00 to $10.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Rosenblatt Securities’ price target would suggest a potential upside of 140.96% from the stock’s current price.

Other research analysts also recently issued research reports about the company. Robert W. Baird reduced their target price on Navitas Semiconductor from $12.00 to $7.00 and set an “outperform” rating on the stock in a report on Friday. Northland Securities assumed coverage on Navitas Semiconductor in a report on Tuesday, January 16th. They set a “market perform” rating on the stock. Finally, Needham & Company LLC dropped their price target on Navitas Semiconductor from $9.00 to $7.00 and set a “buy” rating on the stock in a research report on Friday. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Navitas Semiconductor currently has an average rating of “Moderate Buy” and a consensus target price of $7.98.

Navitas Semiconductor Trading Down 11.5 %

Shares of NVTS traded down $0.54 during midday trading on Friday, reaching $4.15. 4,236,612 shares of the company were exchanged, compared to its average volume of 2,838,232. The stock has a 50-day moving average price of $4.58 and a 200-day moving average price of $5.94. The company has a market cap of $743.89 million, a price-to-earnings ratio of -4.64 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 quarterly earnings results on Thursday, February 29th. The company reported ($0.11) EPS for the quarter, beating 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 return on equity of 18.81% and a negative net margin of 183.04%. Equities research analysts anticipate that Navitas Semiconductor will post -0.46 earnings per share for the current year.

Insider Transactions at Navitas Semiconductor

In other news, CEO Eugene Sheridan sold 38,431 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $4.80, for a total transaction of $184,468.80. Following the completion of the sale, the chief executive officer now directly owns 3,061,631 shares of the company’s stock, valued at approximately $14,695,828.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Ranbir Singh sold 10,925 shares of the firm’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 completion of the sale, the executive vice president now owns 29,357 shares of the company’s stock, valued at $140,913.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Eugene Sheridan sold 38,431 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $4.80, for a total value of $184,468.80. Following the sale, the chief executive officer now owns 3,061,631 shares of the company’s stock, valued at $14,695,828.80. The disclosure for this sale can be found here. Insiders sold a total of 73,429 shares of company stock valued at $352,459 in the last three months. 36.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Navitas Semiconductor

Several hedge funds and other institutional investors have recently modified their holdings of NVTS. Tower Research Capital LLC TRC raised its holdings in shares of Navitas Semiconductor by 241.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,043 shares of the company’s stock worth $57,000 after acquiring an additional 4,982 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in Navitas Semiconductor by 72.5% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 13,200 shares of the company’s stock valued at $63,000 after buying an additional 5,550 shares in the last quarter. SG Americas Securities LLC bought a new position in Navitas Semiconductor during the first quarter valued at about $65,000. Atria Wealth Solutions Inc. bought a new position in Navitas Semiconductor during the fourth quarter valued at about $81,000. Finally, Mackenzie Financial Corp bought a new position in Navitas Semiconductor during the third quarter valued at about $87,000. 46.14% of the stock is currently owned by hedge funds and other 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.