Navitas Semiconductor Co. (NASDAQ:NVTS) Given Average Recommendation of “Moderate Buy” by Analysts

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

A number of analysts recently weighed in on NVTS shares. Northland Securities started coverage on Navitas Semiconductor in a report on Tuesday, January 16th. They issued a “market perform” rating for the company. Rosenblatt Securities reiterated a “buy” rating and set a $12.00 price objective on shares of Navitas Semiconductor in a research report on Friday, March 1st. Finally, Needham & Company LLC lowered their target price on shares of Navitas Semiconductor from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Friday, March 1st.

Navitas Semiconductor Stock Performance

Shares of NASDAQ:NVTS opened at $4.14 on Friday. The company has a fifty day moving average of $4.87 and a 200-day moving average of $6.04. The company has a market capitalization of $742.10 million, a PE ratio of -4.70 and a beta of 2.54. Navitas Semiconductor has a 52-week low of $3.54 and a 52-week high of $11.16.

Navitas Semiconductor (NASDAQ:NVTS) last posted its quarterly earnings data on Thursday, February 29th. The company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.02. The business 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%. On average, equities analysts forecast that Navitas Semiconductor will post -0.46 EPS for the current fiscal year.

Insider Buying and Selling

In other Navitas Semiconductor news, COO Daniel M. Kinzer sold 24,073 shares of Navitas Semiconductor stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $4.80, for a total value of $115,550.40. Following the completion of the sale, the chief operating officer now directly owns 4,538,353 shares of the company’s stock, valued at $21,784,094.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Navitas Semiconductor news, EVP Ranbir Singh sold 10,925 shares of Navitas Semiconductor stock in a transaction 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 completion of the sale, the executive vice president now directly owns 29,357 shares of the company’s stock, valued at $140,913.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Daniel M. Kinzer sold 24,073 shares of Navitas Semiconductor stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $4.80, for a total transaction of $115,550.40. Following the completion of the sale, the chief operating officer now directly owns 4,538,353 shares of the company’s stock, valued at $21,784,094.40. The disclosure for this sale can be found here. Insiders sold 73,429 shares of company stock valued at $352,459 over the last quarter. Insiders own 36.80% of the company’s stock.

Institutional Investors Weigh In On Navitas Semiconductor

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC increased its position 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. Migdal Insurance & Financial Holdings Ltd. increased its position in shares of Navitas Semiconductor by 52.3% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 11,210 shares of the company’s stock worth $76,000 after acquiring an additional 3,850 shares in the last quarter. Atria Wealth Solutions Inc. bought a new stake in shares of Navitas Semiconductor during the fourth quarter worth about $81,000. Mackenzie Financial Corp bought a new stake in shares of Navitas Semiconductor during the third quarter worth about $87,000. Finally, Alpine Global Management LLC bought a new stake in shares of Navitas Semiconductor during the third quarter worth about $119,000. 46.14% of the stock is owned by 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.