Navitas Semiconductor (NASDAQ:NVTS) Sets New 52-Week Low at $2.84

Navitas Semiconductor Co. (NASDAQ:NVTS)’s stock price hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $2.84 and last traded at $2.86, with a volume of 993292 shares traded. The stock had previously closed at $3.02.

Analyst Ratings Changes

A number of equities analysts have recently commented on NVTS shares. Rosenblatt Securities reiterated a “buy” rating and issued a $10.00 price objective on shares of Navitas Semiconductor in a research note on Friday, August 2nd. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Navitas Semiconductor from $7.00 to $6.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Morgan Stanley dropped their target price on shares of Navitas Semiconductor from $4.60 to $3.50 and set an “equal weight” rating on the stock in a report on Tuesday, August 6th. Needham & Company LLC lowered their target price on Navitas Semiconductor from $7.00 to $5.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Finally, Robert W. Baird cut their price target 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. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Navitas Semiconductor presently has an average rating of “Moderate Buy” and a consensus target price of $6.00.

Navitas Semiconductor Stock Performance

The company has a market cap of $461.41 million, a P/E ratio of -4.94 and a beta of 2.42. The firm has a 50 day moving average price of $3.60 and a two-hundred day moving average price of $4.21.

Navitas Semiconductor (NASDAQ:NVTS) last released its earnings results on Monday, August 5th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). The firm had revenue of $20.50 million during the quarter, compared to the consensus estimate of $20.01 million. Navitas Semiconductor had a negative net margin of 55.70% and a negative return on equity of 22.29%. The firm’s revenue was up 13.3% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.12) EPS. On average, sell-side analysts predict that Navitas Semiconductor Co. will post -0.53 EPS for the current fiscal year.

Insider Buying and Selling

In other Navitas Semiconductor news, COO Daniel M. Kinzer sold 150,000 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $3.10, for a total transaction of $465,000.00. Following the completion of the sale, the chief operating officer now directly owns 4,388,353 shares in the company, valued at approximately $13,603,894.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Navitas Semiconductor news, COO Daniel M. Kinzer sold 150,000 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $3.10, for a total value of $465,000.00. Following the transaction, the chief operating officer now directly owns 4,388,353 shares in the company, valued at $13,603,894.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Eugene Sheridan sold 453,190 shares of the company’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $3.03, for a total transaction of $1,373,165.70. Following the completion of the transaction, the chief executive officer now directly owns 2,608,441 shares of the company’s stock, valued at approximately $7,903,576.23. The disclosure for this sale can be found here. Insiders have sold a total of 916,911 shares of company stock valued at $2,915,664 over the last ninety days. Company insiders own 31.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. DRW Securities LLC purchased a new position in shares of Navitas Semiconductor in the 2nd quarter valued at approximately $46,000. Wedbush Securities Inc. acquired a new position in shares of Navitas Semiconductor during the 2nd quarter worth about $49,000. Algert Global LLC purchased a new position in shares of Navitas Semiconductor in the second quarter valued at approximately $50,000. Benjamin F. Edwards & Company Inc. lifted its holdings in Navitas Semiconductor by 72.5% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 13,200 shares of the company’s stock valued at $63,000 after purchasing an additional 5,550 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Navitas Semiconductor in the first quarter worth about $65,000. 46.14% of the stock is currently 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.