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

Shares of Navitas Semiconductor Co. (NASDAQ:NVTS) have been given an average recommendation of “Moderate Buy” by the eight analysts that are currently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $6.00.

Several research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft cut their price objective on Navitas Semiconductor from $7.00 to $6.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Needham & Company LLC reduced their price target on shares of Navitas Semiconductor from $7.00 to $5.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Morgan Stanley decreased their price objective on shares of Navitas Semiconductor from $4.60 to $3.50 and set an “equal weight” rating for the company in a report on Tuesday, August 6th. Craig Hallum dropped their target price on shares of Navitas Semiconductor from $7.50 to $6.50 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Finally, Rosenblatt Securities restated a “buy” rating and set a $10.00 price target on shares of Navitas Semiconductor in a research note on Friday, August 2nd.

Insider Activity

In related news, Director Dipender Saluja sold 87,059 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were 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 directly owns 5,944,420 shares of the company’s stock, valued at approximately $26,452,669. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director David Moxam sold 33,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $3.13, for a total transaction of $103,290.00. Following the sale, the director now directly owns 867,848 shares in the company, valued at $2,716,364.24. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Dipender Saluja sold 87,059 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at $26,452,669. The disclosure for this sale can be found here. Insiders have sold a total of 207,119 shares of company stock valued at $887,696 over the last quarter. Company insiders own 31.80% of the company’s stock.

Institutional Trading of Navitas Semiconductor

Several institutional investors and hedge funds have recently bought and sold shares of NVTS. DRW Securities LLC bought a new position in shares of Navitas Semiconductor in the second quarter worth $46,000. Wedbush Securities Inc. bought a new position in Navitas Semiconductor in the 2nd quarter worth about $49,000. Algert Global LLC bought a new position in Navitas Semiconductor in the 2nd quarter worth about $50,000. Tower Research Capital LLC TRC raised its holdings in shares of Navitas Semiconductor by 241.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,043 shares of the company’s stock valued at $57,000 after acquiring an additional 4,982 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted its position in shares of Navitas Semiconductor by 72.5% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 13,200 shares of the company’s stock valued at $63,000 after acquiring an additional 5,550 shares during the last quarter. 46.14% of the stock is currently owned by hedge funds and other institutional investors.

Navitas Semiconductor Price Performance

NVTS opened at $2.93 on Friday. Navitas Semiconductor has a 1 year low of $2.87 and a 1 year high of $8.95. The company has a market capitalization of $536.49 million, a price-to-earnings ratio of -5.75 and a beta of 2.42. The firm’s fifty day moving average price is $3.72 and its two-hundred day moving average price is $4.34.

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