Analysts Set Navitas Semiconductor Co. (NASDAQ:NVTS) PT at $4.75

Navitas Semiconductor Co. (NASDAQ:NVTS) has received an average rating of “Moderate Buy” from the eight ratings firms that are currently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $4.75.

A number of analysts have issued reports on the stock. Craig Hallum reduced their price target on shares of Navitas Semiconductor from $6.50 to $4.25 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft dropped their price target on Navitas Semiconductor from $6.00 to $4.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $7.50 price objective on shares of Navitas Semiconductor in a research note on Thursday, October 31st. Finally, Robert W. Baird lowered their target price on Navitas Semiconductor from $7.00 to $5.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th.

Insider Buying and Selling

In related news, Director Richard J. Hendrix sold 40,000 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $4.54, for a total value of $181,600.00. Following the completion of the transaction, the director now directly owns 316,709 shares of the company’s stock, valued at $1,437,858.86. This trade represents a 11.21 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 31.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of NVTS. Rice Hall James & Associates LLC acquired a new stake in shares of Navitas Semiconductor during the second quarter worth $2,151,000. Point72 Asset Management L.P. lifted its position in Navitas Semiconductor by 2,656.2% during the 2nd quarter. Point72 Asset Management L.P. now owns 4,283,350 shares of the company’s stock worth $16,834,000 after acquiring an additional 4,127,940 shares during the period. State Street Corp lifted its position in Navitas Semiconductor by 4.0% during the 3rd quarter. State Street Corp now owns 5,826,638 shares of the company’s stock worth $14,275,000 after acquiring an additional 221,575 shares during the period. Squarepoint Ops LLC purchased a new stake in Navitas Semiconductor during the 2nd quarter valued at about $2,364,000. Finally, Mirabella Financial Services LLP acquired a new position in shares of Navitas Semiconductor in the third quarter valued at about $943,000. Institutional investors and hedge funds own 46.14% of the company’s stock.

Navitas Semiconductor Stock Down 2.2 %

Shares of Navitas Semiconductor stock opened at $3.49 on Friday. The company has a market capitalization of $651.92 million, a price-to-earnings ratio of -8.31 and a beta of 2.37. The stock’s 50-day simple moving average is $2.94 and its 200-day simple moving average is $3.11. Navitas Semiconductor has a 52 week low of $1.75 and a 52 week high of $7.51.

Navitas Semiconductor (NASDAQ:NVTS) last posted its quarterly earnings results on Monday, November 4th. The company reported ($0.06) EPS for the quarter, hitting analysts’ consensus estimates of ($0.06). Navitas Semiconductor had a negative return on equity of 23.64% and a negative net margin of 84.61%. The company had revenue of $21.68 million for the quarter, compared to analysts’ expectations of $21.93 million. During the same period in the previous year, the firm earned ($0.10) EPS. The firm’s revenue was down 1.4% compared to the same quarter last year. On average, equities analysts expect that Navitas Semiconductor will post -0.51 earnings per share 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.