Navitas Semiconductor Co. (NASDAQ:NVTS) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Navitas Semiconductor Co. (NASDAQ:NVTS) have been assigned a consensus recommendation of “Moderate Buy” from the eight research firms that are currently covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $7.41.

A number of equities research analysts have commented on NVTS shares. Deutsche Bank Aktiengesellschaft decreased their price target on Navitas Semiconductor from $9.00 to $7.00 and set a “buy” rating on the stock in a report on Friday, May 10th. Robert W. Baird dropped their target price on Navitas Semiconductor from $12.00 to $7.00 and set an “outperform” rating for the company in a research report on Friday, May 10th. Needham & Company LLC dropped their target price on Navitas Semiconductor from $9.00 to $7.00 and set a “buy” rating for the company in a research report on Friday, May 10th. Jefferies Financial Group reiterated a “hold” rating and issued a $4.00 price target (down previously from $10.00) on shares of Navitas Semiconductor in a report on Monday, May 13th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $10.00 price target on shares of Navitas Semiconductor in a research report on Friday.

Insiders Place Their Bets

In related news, Director Dipender Saluja sold 87,059 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $4.45, for a total transaction of $387,412.55. Following the completion of the transaction, the director now owns 5,944,420 shares in the company, valued at $26,452,669. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 31.80% of the company’s stock.

Institutional Investors Weigh In On Navitas Semiconductor

A number of institutional investors and hedge funds have recently made changes to their positions in NVTS. Kodai Capital Management LP purchased a new position in Navitas Semiconductor during the fourth quarter worth about $31,869,000. Intrinsic Edge Capital Management LLC raised its holdings in Navitas Semiconductor by 91.6% during the fourth quarter. Intrinsic Edge Capital Management LLC now owns 2,717,692 shares of the company’s stock worth $21,932,000 after purchasing an additional 1,299,524 shares in the last quarter. Vanguard Group Inc. raised its holdings in Navitas Semiconductor by 14.2% during the third quarter. Vanguard Group Inc. now owns 8,572,707 shares of the company’s stock worth $59,580,000 after purchasing an additional 1,064,010 shares in the last quarter. Masters Capital Management LLC grew its position in Navitas Semiconductor by 55.3% during the fourth quarter. Masters Capital Management LLC now owns 1,700,000 shares of the company’s stock worth $13,719,000 after buying an additional 605,000 shares during the period. Finally, 1492 Capital Management LLC acquired a new position in Navitas Semiconductor during the fourth quarter worth about $2,493,000. 46.14% of the stock is owned by hedge funds and other institutional investors.

Navitas Semiconductor Stock Performance

Shares of NASDAQ:NVTS opened at $3.05 on Tuesday. Navitas Semiconductor has a 52-week low of $2.94 and a 52-week high of $10.10. The firm has a market capitalization of $558.46 million, a P/E ratio of -6.08 and a beta of 2.42. The stock has a 50 day moving average price of $4.15 and a 200-day moving average price of $4.71.

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

Navitas Semiconductor Company Profile

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.