Navitas Semiconductor (NASDAQ:NVTS) Reaches New 12-Month Low at $2.91

Shares of Navitas Semiconductor Co. (NASDAQ:NVTS) hit a new 52-week low during trading on Monday . The company traded as low as $2.91 and last traded at $2.97, with a volume of 280524 shares traded. The stock had previously closed at $3.02.

Analyst Ratings Changes

Several equities analysts recently commented on NVTS shares. Needham & Company LLC cut their target price on shares of Navitas Semiconductor from $7.00 to $5.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Robert W. Baird lowered their price target 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. Craig Hallum reduced their price objective on Navitas Semiconductor from $7.50 to $6.50 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft decreased their price objective on Navitas Semiconductor from $7.00 to $6.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $10.00 target price on shares of Navitas Semiconductor in a research report on Friday, August 2nd. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $6.50.

Navitas Semiconductor Price Performance

The company has a market cap of $543.81 million, a price-to-earnings ratio of -5.92 and a beta of 2.42. The business has a 50 day simple moving average of $4.08 and a 200 day simple moving average of $4.60.

Navitas Semiconductor (NASDAQ:NVTS) last issued 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 the consensus estimate of $20.01 million. During the same period in the prior year, the company earned ($0.12) EPS. The firm’s revenue was up 13.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Navitas Semiconductor Co. will post -0.53 earnings per share for the current fiscal year.

Insider Activity at Navitas Semiconductor

In other Navitas Semiconductor news, Director Dipender Saluja sold 87,059 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $4.45, for a total value of $387,412.55. Following the transaction, the director now directly owns 5,944,420 shares in the company, valued at approximately $26,452,669. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 31.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Navitas Semiconductor

Institutional investors and hedge funds have recently modified their holdings of the business. Masters Capital Management LLC raised its position in shares of Navitas Semiconductor by 55.3% in the 4th quarter. Masters Capital Management LLC now owns 1,700,000 shares of the company’s stock valued at $13,719,000 after acquiring an additional 605,000 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Navitas Semiconductor by 3.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 940,048 shares of the company’s stock worth $7,586,000 after buying an additional 34,524 shares in the last quarter. SG Americas Securities LLC acquired a new position in Navitas Semiconductor during the first quarter valued at approximately $65,000. Vanguard Group Inc. increased 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 purchasing an additional 232,496 shares during the last quarter. Finally, Quantbot Technologies LP raised its stake in shares of Navitas Semiconductor by 550.4% during the 1st quarter. Quantbot Technologies LP now owns 40,565 shares of the company’s stock worth $193,000 after purchasing an additional 34,328 shares in the last quarter. 46.14% of the stock is owned by institutional investors.

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.