Navitas Semiconductor (NASDAQ:NVTS) PT Lowered to $6.00 at Deutsche Bank Aktiengesellschaft

Navitas Semiconductor (NASDAQ:NVTS) had its price objective cut by Deutsche Bank Aktiengesellschaft from $7.00 to $6.00 in a research report report published on Tuesday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts also recently commented on NVTS. 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. Robert W. Baird reduced their price objective on Navitas Semiconductor from $12.00 to $7.00 and set an outperform rating on the stock in a research note on Friday, May 10th. Jefferies Financial Group restated a hold rating and set a $4.00 target price (down from $10.00) on shares of Navitas Semiconductor in a research note on Monday, May 13th. Rosenblatt Securities restated a buy rating and issued a $10.00 target price on shares of Navitas Semiconductor in a research note on Friday, August 2nd. Finally, Craig Hallum dropped their target price on shares of Navitas Semiconductor from $7.50 to $6.50 and set a buy rating on the stock in a report on Tuesday. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $6.50.

Navitas Semiconductor Stock Down 3.5 %

NASDAQ:NVTS traded down $0.11 during midday trading on Tuesday, reaching $3.02. The stock had a trading volume of 1,985,211 shares, compared to its average volume of 2,726,739. The stock has a market cap of $552.97 million, a P/E ratio of -6.14 and a beta of 2.42. The firm has a fifty day simple moving average of $4.10 and a two-hundred day simple moving average of $4.65. Navitas Semiconductor has a 12-month low of $2.94 and a 12-month high of $10.10.

Navitas Semiconductor (NASDAQ:NVTS) last posted its quarterly earnings data on Monday, August 5th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). Navitas Semiconductor had a negative return on equity of 21.22% and a negative net margin of 97.75%. The company had revenue of $20.50 million for the quarter, compared to analysts’ expectations of $20.01 million. During the same quarter in the prior year, the business posted ($0.12) EPS. The company’s revenue for the quarter was up 13.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Navitas Semiconductor will post -0.53 earnings per share for the current fiscal year.

Insider Transactions at Navitas Semiconductor

In related news, Director Dipender Saluja sold 87,059 shares of Navitas Semiconductor stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $4.45, for a total transaction of $387,412.55. Following the sale, the director now directly owns 5,944,420 shares in the company, valued at $26,452,669. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 31.80% of the company’s stock.

Hedge Funds Weigh In On Navitas Semiconductor

Several large investors have recently bought and sold shares of NVTS. ProShare Advisors LLC boosted its holdings in shares of Navitas Semiconductor by 12.5% in the first quarter. ProShare Advisors LLC now owns 20,348 shares of the company’s stock valued at $97,000 after acquiring an additional 2,258 shares in the last quarter. Laidlaw Wealth Management LLC raised its stake in shares of Navitas Semiconductor by 16.7% in the 4th quarter. Laidlaw Wealth Management LLC now owns 18,316 shares of the company’s stock worth $148,000 after buying an additional 2,618 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Navitas Semiconductor by 23.9% in the fourth 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. Commonwealth Equity Services LLC boosted its stake in Navitas Semiconductor by 5.4% during the second quarter. Commonwealth Equity Services LLC now owns 77,940 shares of the company’s stock valued at $306,000 after buying an additional 4,000 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in Navitas Semiconductor by 16.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 31,646 shares of the company’s stock worth $151,000 after acquiring an additional 4,533 shares during the period. Institutional investors and hedge funds own 46.14% of the company’s stock.

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.