Navitas Semiconductor (NASDAQ:NVTS) Hits New 52-Week Low at $3.54

Shares of Navitas Semiconductor Co. (NASDAQ:NVTS) hit a new 52-week low during trading on Monday . The company traded as low as $3.54 and last traded at $3.55, with a volume of 668519 shares traded. The stock had previously closed at $3.64.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on NVTS shares. Rosenblatt Securities reissued a “buy” rating and issued a $12.00 price target on shares of Navitas Semiconductor in a research note on Friday, March 1st. Northland Securities started coverage on shares of Navitas Semiconductor in a research note on Tuesday, January 16th. They issued a “market perform” rating on the stock. Finally, Needham & Company LLC reduced their price target on shares of Navitas Semiconductor from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Friday, March 1st. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.82.

Navitas Semiconductor Stock Performance

The firm’s 50 day moving average is $4.98 and its two-hundred day moving average is $6.06. The stock has a market capitalization of $679.36 million, a PE ratio of -4.31 and a beta of 2.54.

Navitas Semiconductor (NASDAQ:NVTS) last posted its quarterly earnings results on Thursday, February 29th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.02. Navitas Semiconductor had a negative net margin of 183.04% and a negative return on equity of 18.81%. The company had revenue of $26.06 million during the quarter, compared to analysts’ expectations of $25.68 million. On average, analysts anticipate that Navitas Semiconductor Co. will post -0.46 EPS for the current year.

Insider Activity

In other news, EVP Ranbir Singh sold 10,925 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $4.80, for a total value of $52,440.00. Following the sale, the executive vice president now directly owns 29,357 shares in the company, valued at approximately $140,913.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Eugene Sheridan sold 38,431 shares of Navitas Semiconductor stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $4.80, for a total transaction of $184,468.80. Following the sale, the chief executive officer now directly owns 3,061,631 shares in the company, valued at approximately $14,695,828.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Ranbir Singh sold 10,925 shares of Navitas Semiconductor stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $4.80, for a total transaction of $52,440.00. Following the sale, the executive vice president now owns 29,357 shares in the company, valued at $140,913.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 73,429 shares of company stock worth $352,459. 36.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Navitas Semiconductor

Several hedge funds and other institutional investors have recently bought and sold shares of NVTS. DnB Asset Management AS acquired a new position in Navitas Semiconductor in the third quarter valued at $657,000. SG Americas Securities LLC purchased a new stake in Navitas Semiconductor during the third quarter worth about $302,000. Commonwealth Equity Services LLC lifted its holdings in shares of Navitas Semiconductor by 15.9% in the third quarter. Commonwealth Equity Services LLC now owns 40,015 shares of the company’s stock valued at $278,000 after purchasing an additional 5,500 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Navitas Semiconductor by 9.3% in the third quarter. Bank of New York Mellon Corp now owns 392,743 shares of the company’s stock valued at $2,730,000 after purchasing an additional 33,320 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of Navitas Semiconductor by 52.3% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 11,210 shares of the company’s stock valued at $76,000 after purchasing an additional 3,850 shares in the last quarter. 46.14% of the stock is currently owned by institutional investors and hedge funds.

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.