Navitas Semiconductor Co. (NASDAQ:NVTS) Receives $4.75 Average Target Price from Analysts

Navitas Semiconductor Co. (NASDAQ:NVTS) has been assigned a consensus rating of “Moderate Buy” from the eight brokerages that are currently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price target among brokers that have covered the stock in the last year is $4.75.

NVTS has been the topic of a number of recent research reports. Morgan Stanley decreased 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 decreased 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 reaffirmed a “buy” rating and issued a $7.50 target price on shares of Navitas Semiconductor in a report on Thursday, October 31st. Robert W. Baird decreased 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, November 5th. Finally, Craig Hallum decreased 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, November 5th.

Navitas Semiconductor Price Performance

NASDAQ NVTS opened at $1.79 on Thursday. The business’s fifty day moving average price is $2.41 and its 200-day moving average price is $3.36. The stock has a market capitalization of $327.75 million, a price-to-earnings ratio of -4.26 and a beta of 2.36. Navitas Semiconductor has a 1-year low of $1.77 and a 1-year high of $8.44.

Navitas Semiconductor (NASDAQ:NVTS) last released its quarterly earnings results on Monday, November 4th. The company reported ($0.06) earnings per share for the quarter, meeting the consensus estimate of ($0.06). The firm had revenue of $21.68 million for the quarter, compared to analysts’ expectations of $21.93 million. Navitas Semiconductor had a negative return on equity of 23.64% and a negative net margin of 84.61%. The company’s revenue was down 1.4% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.10) EPS. Equities research analysts anticipate that Navitas Semiconductor will post -0.51 EPS for the current year.

Insiders Place Their Bets

In other Navitas Semiconductor news, COO Daniel M. Kinzer sold 150,000 shares of the 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 owns 4,388,353 shares in the company, valued at approximately $13,603,894.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Navitas Semiconductor news, CEO Eugene Sheridan sold 193,662 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $3.03, for a total transaction of $586,795.86. Following the sale, the chief executive officer now directly owns 2,149,631 shares of the company’s stock, valued at $6,513,381.93. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Daniel M. Kinzer sold 150,000 shares of the business’s 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 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 position. The disclosure for this sale can be found here. In the last quarter, insiders sold 796,852 shares of company stock worth $2,424,962. Corporate insiders own 31.80% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Bleakley Financial Group LLC purchased a new stake in shares of Navitas Semiconductor in the third quarter valued at approximately $41,000. GSA Capital Partners LLP purchased a new stake in Navitas Semiconductor during the third quarter worth $44,000. DRW Securities LLC acquired a new position in shares of Navitas Semiconductor during the second quarter worth $46,000. Wedbush Securities Inc. acquired a new position in shares of Navitas Semiconductor during the second quarter worth $49,000. Finally, Algert Global LLC acquired a new position in shares of Navitas Semiconductor during the second quarter worth $50,000. Hedge funds and other institutional investors 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.