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

Shares of Navitas Semiconductor Co. (NASDAQ:NVTS) have received an average rating of “Moderate Buy” from the eight ratings firms that are presently covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $7.41.

A number of brokerages have recently issued reports on NVTS. Robert W. Baird dropped their price objective on shares of Navitas Semiconductor from $12.00 to $7.00 and set an “outperform” rating for the company in a research note on Friday, May 10th. Rosenblatt Securities restated a “buy” rating and issued a $10.00 price objective on shares of Navitas Semiconductor in a research note on Friday, June 7th. Deutsche Bank Aktiengesellschaft dropped 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 note on Friday, May 10th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $4.00 target price (down previously from $10.00) on shares of Navitas Semiconductor in a report on Monday, May 13th. Finally, Needham & Company LLC lowered their target price on shares of Navitas Semiconductor from $9.00 to $7.00 and set a “buy” rating on the stock in a report on Friday, May 10th.

Insider Buying and Selling at Navitas Semiconductor

In other Navitas Semiconductor news, Director Dipender Saluja sold 87,060 shares of the firm’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $4.56, for a total value of $396,993.60. Following the completion of the sale, the director now owns 6,118,539 shares in the company, valued at approximately $27,900,537.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 31.80% of the company’s stock.

Institutional Investors Weigh In On Navitas Semiconductor

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of Navitas Semiconductor by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 9,009,587 shares of the company’s stock worth $42,976,000 after buying an additional 232,496 shares during the period. Kodai Capital Management LP grew its position in shares of Navitas Semiconductor by 14.3% during the 1st quarter. Kodai Capital Management LP now owns 4,514,576 shares of the company’s stock worth $21,535,000 after buying an additional 565,463 shares during the period. Intrinsic Edge Capital Management LLC grew its position in shares of Navitas Semiconductor by 91.6% during the 4th quarter. Intrinsic Edge Capital Management LLC now owns 2,717,692 shares of the company’s stock worth $21,932,000 after buying an additional 1,299,524 shares during the period. Masters Capital Management LLC grew its position in shares of Navitas Semiconductor by 55.3% during the 4th quarter. Masters Capital Management LLC now owns 1,700,000 shares of the company’s stock worth $13,719,000 after buying an additional 605,000 shares during the period. Finally, Penn Capital Management Company LLC grew its position in shares of Navitas Semiconductor by 9.0% during the 4th quarter. Penn Capital Management Company LLC now owns 1,360,204 shares of the company’s stock worth $10,992,000 after buying an additional 112,551 shares during the period. Institutional investors and hedge funds own 46.14% of the company’s stock.

Navitas Semiconductor Price Performance

NASDAQ:NVTS opened at $4.39 on Monday. The stock has a market cap of $803.81 million, a P/E ratio of -8.61 and a beta of 2.44. Navitas Semiconductor has a one year low of $3.48 and a one year high of $11.16. The company has a fifty day moving average price of $4.18 and a 200 day moving average price of $5.55.

Navitas Semiconductor (NASDAQ:NVTS) last released its earnings results on Thursday, May 9th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.02). Navitas Semiconductor had a negative net margin of 97.75% and a negative return on equity of 21.22%. The company had revenue of $23.18 million for the quarter, compared to analyst estimates of $23.15 million. As a group, equities research analysts anticipate that Navitas Semiconductor will post -0.53 EPS 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.