Analysts Set Navitas Semiconductor Co. (NASDAQ:NVTS) Target Price at $4.75

Shares of Navitas Semiconductor Co. (NASDAQ:NVTS) have been assigned an average rating of “Moderate Buy” from the eight ratings firms that are currently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $4.75.

Several equities analysts have recently weighed in on NVTS shares. Needham & Company LLC reduced their price target on Navitas Semiconductor from $7.00 to $5.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Robert W. Baird dropped their price target on Navitas Semiconductor from $7.00 to $5.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th. Morgan Stanley dropped their price target on Navitas Semiconductor from $4.60 to $3.50 and set an “equal weight” rating for the company in a research note on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft lowered their target price on Navitas Semiconductor from $6.00 to $4.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $7.50 price target on shares of Navitas Semiconductor in a research report on Thursday, October 31st.

Navitas Semiconductor Price Performance

NASDAQ:NVTS opened at $1.79 on Thursday. The business has a fifty day simple moving average of $2.41 and a two-hundred day simple moving average of $3.36. Navitas Semiconductor has a 1 year low of $1.77 and a 1 year high of $8.44. The company has a market capitalization of $327.75 million, a P/E ratio of -4.26 and a beta of 2.36.

Navitas Semiconductor (NASDAQ:NVTS) last released its earnings results on Monday, November 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.06). The business had revenue of $21.68 million during the quarter, compared to the consensus estimate of $21.93 million. Navitas Semiconductor had a negative return on equity of 23.64% and a negative net margin of 84.61%. The business’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period last year, the business posted ($0.10) earnings per share. As a group, analysts anticipate that Navitas Semiconductor will post -0.51 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Eugene Sheridan sold 453,190 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $3.03, for a total value of $1,373,165.70. Following the sale, the chief executive officer now owns 2,608,441 shares in the company, valued at $7,903,576.23. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CEO Eugene Sheridan sold 453,190 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $3.03, for a total value of $1,373,165.70. Following the sale, the chief executive officer now owns 2,608,441 shares in the company, valued at $7,903,576.23. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Daniel M. Kinzer sold 150,000 shares of the company’s stock in a transaction that occurred 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 $13,603,894.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 796,852 shares of company stock worth $2,424,962 in the last 90 days. Insiders own 31.80% of the company’s stock.

Hedge Funds Weigh In On Navitas Semiconductor

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NVTS. Bleakley Financial Group LLC bought a new position in Navitas Semiconductor in the 3rd quarter valued at approximately $41,000. GSA Capital Partners LLP bought a new position in Navitas Semiconductor in the 3rd quarter valued at approximately $44,000. DRW Securities LLC bought a new position in Navitas Semiconductor in the 2nd quarter valued at approximately $46,000. Wedbush Securities Inc. bought a new position in Navitas Semiconductor in the 2nd quarter valued at approximately $49,000. Finally, Algert Global LLC bought a new position in Navitas Semiconductor in the 2nd quarter valued at approximately $50,000. 46.14% of the stock is 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.