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

Navitas Semiconductor Co. (NASDAQ:NVTS) has received a consensus rating of “Moderate Buy” from the eight ratings firms that are covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $6.00.

A number of research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft cut 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 issued a $10.00 price objective on shares of Navitas Semiconductor in a research report on Friday, August 2nd. Craig Hallum lowered their price objective on Navitas Semiconductor from $7.50 to $6.50 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Needham & Company LLC lowered their price objective on Navitas Semiconductor from $7.00 to $5.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Finally, Morgan Stanley lowered their price objective on 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.

Insiders Place Their Bets

In other Navitas Semiconductor news, COO Daniel M. Kinzer sold 150,000 shares of Navitas Semiconductor stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $3.10, for a total transaction of $465,000.00. Following the completion of the sale, the chief operating officer now owns 4,388,353 shares of the company’s stock, valued at approximately $13,603,894.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director David Moxam sold 33,000 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $3.13, for a total value of $103,290.00. Following the completion of the transaction, the director now owns 867,848 shares of the company’s stock, valued at approximately $2,716,364.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Daniel M. Kinzer sold 150,000 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $3.10, for a total value of $465,000.00. Following the completion of the transaction, the chief operating officer now directly owns 4,388,353 shares of the company’s stock, valued at approximately $13,603,894.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 829,852 shares of company stock valued at $2,528,252. 31.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Navitas Semiconductor

Several institutional investors and hedge funds have recently modified their holdings of NVTS. Russell Investments Group Ltd. lifted its holdings in shares of Navitas Semiconductor by 25.0% in the 4th quarter. Russell Investments Group Ltd. now owns 65,328 shares of the company’s stock valued at $527,000 after buying an additional 13,081 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Navitas Semiconductor by 23.9% in the 4th quarter. Victory Capital Management Inc. now owns 15,842 shares of the company’s stock valued at $128,000 after buying an additional 3,052 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Navitas Semiconductor by 3.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 940,048 shares of the company’s stock valued at $7,586,000 after buying an additional 34,524 shares during the period. Dynamic Technology Lab Private Ltd lifted its holdings in shares of Navitas Semiconductor by 64.5% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 41,509 shares of the company’s stock valued at $335,000 after buying an additional 16,281 shares during the period. Finally, Trexquant Investment LP acquired a new position in shares of Navitas Semiconductor in the 4th quarter valued at about $1,729,000. Institutional investors and hedge funds own 46.14% of the company’s stock.

Navitas Semiconductor Trading Up 2.8 %

Shares of NASDAQ:NVTS opened at $2.24 on Wednesday. Navitas Semiconductor has a 12-month low of $2.14 and a 12-month high of $8.44. The business’s fifty day simple moving average is $3.06 and its 200-day simple moving average is $3.86. The company has a market capitalization of $410.15 million, a PE ratio of -4.39 and a beta of 2.40.

Navitas Semiconductor (NASDAQ:NVTS) last announced its quarterly earnings results on Monday, August 5th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). Navitas Semiconductor had a negative net margin of 55.70% and a negative return on equity of 22.29%. The company had revenue of $20.50 million during the quarter, compared to analysts’ expectations of $20.01 million. During the same quarter in the prior year, the business posted ($0.12) earnings per share. The company’s revenue was up 13.3% compared to the same quarter last year. Research analysts predict that Navitas Semiconductor will post -0.53 EPS for the current year.

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.