Analysts’ Weekly Ratings Updates for Navitas Semiconductor (NVTS)

Several analysts have recently updated their ratings and price targets for Navitas Semiconductor (NASDAQ: NVTS):

• 8/6/2024 – Navitas Semiconductor had its price target lowered by analysts at Morgan Stanley from $4.60 to $3.50. They now have an “equal weight” rating on the stock.
• 8/6/2024 – Navitas Semiconductor had its price target lowered by analysts at Deutsche Bank Aktiengesellschaft from $7.00 to $6.00. They now have a “buy” rating on the stock.
• 8/6/2024 – Navitas Semiconductor had its price target lowered by analysts at Craig Hallum from $7.50 to $6.50. They now have a “buy” rating on the stock.
• 8/6/2024 – Navitas Semiconductor had its price target lowered by analysts at Needham & Company LLC from $7.00 to $5.00. They now have a “buy” rating on the stock.
• 8/2/2024 – Navitas Semiconductor had its “buy” rating reaffirmed by analysts at Rosenblatt Securities. They now have a $10.00 price target on the stock.

Navitas Semiconductor Stock Down 3.5 %

Shares of NASDAQ NVTS traded down $0.11 during midday trading on Thursday, hitting $3.01. The stock had a trading volume of 1,484,453 shares, compared to its average volume of 2,684,869. Navitas Semiconductor Co. has a 1 year low of $2.87 and a 1 year high of $8.95. The company has a market capitalization of $551.13 million, a PE ratio of -5.90 and a beta of 2.42. The stock has a 50 day simple moving average of $3.85 and a 200-day simple moving average of $4.44.

Navitas Semiconductor (NASDAQ:NVTS) last announced its earnings results on Monday, August 5th. The company reported ($0.07) earnings per share (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 analyst estimates of $20.01 million. Navitas Semiconductor had a negative return on equity of 21.22% and a negative net margin of 97.75%. The company’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period last year, the firm earned ($0.12) EPS. As a group, analysts expect that Navitas Semiconductor Co. will post -0.53 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Navitas Semiconductor news, Director Dipender Saluja sold 87,059 shares of the company’s 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 completion of the sale, the director now directly owns 5,944,420 shares in the company, valued at approximately $26,452,669. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director David Moxam sold 33,000 shares of Navitas Semiconductor stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $3.13, for a total transaction of $103,290.00. Following the sale, the director now owns 867,848 shares of the company’s stock, valued at approximately $2,716,364.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Dipender Saluja sold 87,059 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now owns 5,944,420 shares of the company’s stock, valued at $26,452,669. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 207,119 shares of company stock worth $887,696. 31.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Navitas Semiconductor

A number of hedge funds have recently modified their holdings of NVTS. Point72 Asset Management L.P. raised its holdings in Navitas Semiconductor by 2,656.2% in the 2nd quarter. Point72 Asset Management L.P. now owns 4,283,350 shares of the company’s stock valued at $16,834,000 after buying an additional 4,127,940 shares during the period. Kodai Capital Management LP acquired a new stake in shares of Navitas Semiconductor during the fourth quarter valued at about $31,869,000. Intrinsic Edge Capital Management LLC raised its stake in shares of Navitas Semiconductor by 91.6% in the 4th quarter. Intrinsic Edge Capital Management LLC now owns 2,717,692 shares of the company’s stock valued at $21,932,000 after acquiring an additional 1,299,524 shares during the period. Masters Capital Management LLC lifted its holdings in shares of Navitas Semiconductor by 90.0% in the 2nd quarter. Masters Capital Management LLC now owns 1,900,000 shares of the company’s stock worth $7,467,000 after acquiring an additional 900,000 shares during the last quarter. Finally, Squarepoint Ops LLC purchased a new position in shares of Navitas Semiconductor during the 2nd quarter worth approximately $2,364,000. 46.14% of the stock is currently owned by hedge funds and other institutional investors.

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.