Brokerages Set Navitas Semiconductor Co. (NASDAQ:NVTS) Price Target at $7.41

Shares of Navitas Semiconductor Co. (NASDAQ:NVTS) have earned a consensus rating of “Moderate Buy” from the eight ratings firms that are presently covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $7.41.

A number of equities research analysts recently weighed in on NVTS shares. Robert W. Baird dropped their price target on Navitas Semiconductor from $12.00 to $7.00 and set an “outperform” rating for the company in a report on Friday, May 10th. Rosenblatt Securities reduced their price target on shares of Navitas Semiconductor from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday, May 10th. Needham & Company LLC lowered their price objective on shares of Navitas Semiconductor from $9.00 to $7.00 and set a “buy” rating for the company in a research report on Friday, May 10th. Jefferies Financial Group reiterated a “hold” rating and set a $4.00 target price (down from $10.00) on shares of Navitas Semiconductor in a research report on Monday, May 13th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of Navitas Semiconductor from $9.00 to $7.00 and set a “buy” rating for the company in a report on Friday, May 10th.

Insiders Place Their Bets

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 value of $184,468.80. Following the transaction, the chief executive officer now directly owns 3,061,631 shares in the company, valued at approximately $14,695,828.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Navitas Semiconductor news, COO Daniel M. Kinzer sold 24,073 shares of the 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 sale, the chief operating officer now directly owns 4,538,353 shares in the company, valued at $21,784,094.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Eugene Sheridan sold 38,431 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 transaction of $184,468.80. Following the transaction, the chief executive officer now directly owns 3,061,631 shares in the company, valued at $14,695,828.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 73,429 shares of company stock valued at $352,459. Company insiders own 31.80% of the company’s stock.

Institutional Trading of Navitas Semiconductor

Several hedge funds have recently added to or reduced their stakes in NVTS. Tower Research Capital LLC TRC boosted its holdings in shares of Navitas Semiconductor by 241.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,043 shares of the company’s stock valued at $57,000 after buying an additional 4,982 shares during the period. Atria Wealth Solutions Inc. acquired a new stake in shares of Navitas Semiconductor in the 4th quarter valued at about $81,000. Mackenzie Financial Corp bought a new stake in shares of Navitas Semiconductor in the third quarter valued at about $87,000. Benjamin F. Edwards & Company Inc. boosted its position in shares of Navitas Semiconductor by 72.5% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 13,200 shares of the company’s stock worth $63,000 after buying an additional 5,550 shares during the period. Finally, SG Americas Securities LLC bought a new position in shares of Navitas Semiconductor during the first quarter worth about $65,000. Institutional investors and hedge funds own 46.14% of the company’s stock.

Navitas Semiconductor Stock Performance

Shares of NASDAQ NVTS opened at $3.79 on Thursday. Navitas Semiconductor has a 52-week low of $3.54 and a 52-week high of $11.16. The business has a fifty day moving average of $4.38 and a two-hundred day moving average of $5.88. The stock has a market cap of $679.36 million, a PE ratio of -7.43 and a beta of 2.52.

Navitas Semiconductor (NASDAQ:NVTS) last released 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 for the quarter, compared to analyst estimates of $25.68 million. Navitas Semiconductor had a negative net margin of 97.75% and a negative return on equity of 21.22%. Analysts predict that Navitas Semiconductor will post -0.5 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.