Navitas Semiconductor (NASDAQ:NVTS) Given New $4.00 Price Target at Deutsche Bank Aktiengesellschaft

Navitas Semiconductor (NASDAQ:NVTS) had its price objective cut by equities researchers at Deutsche Bank Aktiengesellschaft from $6.00 to $4.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s price objective suggests a potential upside of 68.78% from the company’s previous close.

A number of other research analysts have also weighed in on the company. Craig Hallum dropped their target price on Navitas Semiconductor from $6.50 to $4.25 and set a “buy” rating on the stock in a report on Tuesday. Morgan Stanley dropped their target price on 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 dropped their target price on Navitas Semiconductor from $7.00 to $5.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Rosenblatt Securities restated a “buy” rating and issued a $7.50 target price on shares of Navitas Semiconductor in a report on Thursday, October 31st. Finally, Robert W. Baird dropped their target price on Navitas Semiconductor from $7.00 to $5.00 and set an “outperform” rating on the stock in a report on Tuesday. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $4.75.

Navitas Semiconductor Stock Down 9.2 %

NASDAQ:NVTS traded down $0.24 on Tuesday, hitting $2.37. The stock had a trading volume of 1,997,580 shares, compared to its average volume of 2,647,916. The business’s fifty day moving average is $2.52 and its 200 day moving average is $3.45. The company has a market cap of $433.95 million, a PE ratio of -8.46 and a beta of 2.36. Navitas Semiconductor has a 52 week low of $2.14 and a 52 week high of $8.44.

Navitas Semiconductor (NASDAQ:NVTS) last announced its quarterly earnings results on Monday, November 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.06). The business had revenue of $21.68 million for the quarter, compared to analyst estimates of $21.93 million. Navitas Semiconductor had a negative return on equity of 22.29% and a negative net margin of 55.70%. The company’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.10) earnings per share. Equities analysts predict that Navitas Semiconductor will post -0.53 earnings per share for the current fiscal year.

Insider Activity at Navitas Semiconductor

In related news, COO Daniel M. Kinzer sold 150,000 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was 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 of the company’s stock, valued at approximately $13,603,894.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Navitas Semiconductor news, COO Daniel M. Kinzer sold 150,000 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $3.10, for a total value of $465,000.00. Following the completion of the sale, the chief operating officer now directly owns 4,388,353 shares of the company’s stock, valued at $13,603,894.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Eugene Sheridan sold 193,662 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $3.03, for a total value of $586,795.86. Following the completion of the sale, the chief executive officer now directly owns 2,149,631 shares of the company’s stock, valued at $6,513,381.93. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 829,852 shares of company stock valued at $2,528,252. 31.80% of the stock is owned by insiders.

Institutional Trading of Navitas Semiconductor

A number of large investors have recently bought and sold shares of the company. GSA Capital Partners LLP bought a new position in shares of Navitas Semiconductor in the third quarter worth $44,000. Bleakley Financial Group LLC bought a new position in shares of Navitas Semiconductor in the third quarter worth $41,000. Creative Planning bought a new position in shares of Navitas Semiconductor in the third quarter worth $122,000. Duncan Williams Asset Management LLC bought a new position in shares of Navitas Semiconductor in the third quarter worth $172,000. Finally, SG Americas Securities LLC bought a new position in shares of Navitas Semiconductor in the third quarter worth $133,000. 46.14% of the stock is owned by hedge funds and other 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.