Navitas Semiconductor (NASDAQ:NVTS) Given New $4.00 Price Target at Deutsche Bank Aktiengesellschaft

Navitas Semiconductor (NASDAQ:NVTS) had its target price dropped by stock analysts at Deutsche Bank Aktiengesellschaft from $6.00 to $4.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s target price indicates a potential upside of 68.78% from the stock’s previous close.

A number of other analysts also recently weighed in on NVTS. Craig Hallum cut their target price on Navitas Semiconductor from $6.50 to $4.25 and set a “buy” rating for the company in a research report on Tuesday. Needham & Company LLC lowered their price target on Navitas Semiconductor from $7.00 to $5.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Robert W. Baird lowered their price target on Navitas Semiconductor from $7.00 to $5.00 and set an “outperform” rating for the company in a report on Tuesday. Morgan Stanley lowered their price target on Navitas Semiconductor from $4.60 to $3.50 and set an “equal weight” rating for the company in a report on Tuesday, August 6th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $7.50 price target on shares of Navitas Semiconductor in a report on Thursday, October 31st. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $4.75.

Navitas Semiconductor Price Performance

NVTS traded down $0.24 during trading on Tuesday, hitting $2.37. The stock had a trading volume of 1,997,580 shares, compared to its average volume of 2,647,916. The company has a 50 day moving average price of $2.52 and a 200-day moving average price of $3.45. The firm has a market cap of $433.95 million, a price-to-earnings ratio of -8.46 and a beta of 2.36. Navitas Semiconductor has a one year low of $2.14 and a one year high of $8.44.

Navitas Semiconductor (NASDAQ:NVTS) last released its earnings results on Monday, November 4th. The company reported ($0.06) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.06). The firm 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 22.29% and a negative net margin of 55.70%. The company’s revenue was down 1.4% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.10) EPS. As a group, sell-side analysts predict that Navitas Semiconductor will post -0.53 EPS for the current fiscal year.

Insiders Place Their Bets

In other Navitas Semiconductor news, CEO Eugene Sheridan sold 453,190 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 2,608,441 shares of the company’s stock, valued at $7,903,576.23. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Navitas Semiconductor news, CEO Eugene Sheridan sold 453,190 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 2,608,441 shares of the company’s stock, valued at $7,903,576.23. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Daniel M. Kinzer sold 150,000 shares of the stock in a transaction dated Tuesday, August 27th. The shares were 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 directly owns 4,388,353 shares of the company’s stock, valued at approximately $13,603,894.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 829,852 shares of company stock valued at $2,528,252 in the last 90 days. Corporate insiders own 31.80% of the company’s stock.

Institutional Investors Weigh In On Navitas Semiconductor

Institutional investors and hedge funds have recently made changes to their positions in the business. Rice Hall James & Associates LLC bought a new stake in shares of Navitas Semiconductor during the 2nd quarter valued at about $2,151,000. Point72 Asset Management L.P. boosted its position in shares of Navitas Semiconductor by 2,656.2% during 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 purchasing an additional 4,127,940 shares in the last quarter. Squarepoint Ops LLC bought a new stake in shares of Navitas Semiconductor during the 2nd quarter valued at about $2,364,000. Masters Capital Management LLC boosted its position in shares of Navitas Semiconductor by 90.0% during the 2nd quarter. Masters Capital Management LLC now owns 1,900,000 shares of the company’s stock valued at $7,467,000 after purchasing an additional 900,000 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Navitas Semiconductor by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 9,009,587 shares of the company’s stock valued at $42,976,000 after purchasing an additional 232,496 shares in the last quarter. 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.