Craig Hallum Lowers Navitas Semiconductor (NASDAQ:NVTS) Price Target to $6.50

Navitas Semiconductor (NASDAQ:NVTS) had its target price cut by stock analysts at Craig Hallum from $7.50 to $6.50 in a research report issued on Tuesday, MarketBeat reports. The brokerage currently has a “buy” rating on the stock. Craig Hallum’s target price indicates a potential upside of 103.76% from the company’s current price.

Several other equities analysts also recently weighed in on the stock. Robert W. Baird decreased their price target on shares of Navitas Semiconductor from $12.00 to $7.00 and set an “outperform” rating on the stock in a research note on Friday, May 10th. Needham & Company LLC lowered their target price on Navitas Semiconductor from $7.00 to $5.00 and set a “buy” rating on the stock in a report on Tuesday. Jefferies Financial Group reiterated a “hold” rating and set a $4.00 price objective (down previously from $10.00) on shares of Navitas Semiconductor in a research report on Monday, May 13th. Rosenblatt Securities restated a “buy” rating and set a $10.00 price objective on shares of Navitas Semiconductor in a research report on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Navitas Semiconductor from $9.00 to $7.00 and set a “buy” rating for the company in a research note on Friday, May 10th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Navitas Semiconductor has a consensus rating of “Moderate Buy” and an average target price of $6.50.

Navitas Semiconductor Stock Down 0.6 %

NVTS stock opened at $3.19 on Tuesday. Navitas Semiconductor has a 52 week low of $2.94 and a 52 week high of $10.10. The firm has a 50-day simple moving average of $4.12 and a 200-day simple moving average of $4.66. The stock has a market capitalization of $584.09 million, a P/E ratio of -6.25 and a beta of 2.42.

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

Insider Buying and Selling

In other Navitas Semiconductor news, Director Dipender Saluja sold 87,059 shares of the business’s 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 sale, the director now owns 5,944,420 shares of the company’s stock, valued at $26,452,669. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 31.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Navitas Semiconductor

Several hedge funds have recently bought and sold shares of the company. Masters Capital Management LLC lifted its position in shares of Navitas Semiconductor by 55.3% during the fourth quarter. Masters Capital Management LLC now owns 1,700,000 shares of the company’s stock worth $13,719,000 after purchasing an additional 605,000 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Navitas Semiconductor by 3.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 940,048 shares of the company’s stock worth $7,586,000 after acquiring an additional 34,524 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Navitas Semiconductor during the first quarter worth $65,000. Quantbot Technologies LP raised its stake in shares of Navitas Semiconductor by 550.4% in the first quarter. Quantbot Technologies LP now owns 40,565 shares of the company’s stock valued at $193,000 after acquiring an additional 34,328 shares in the last quarter. Finally, Kodai Capital Management LP purchased a new position in Navitas Semiconductor in the fourth quarter valued at $31,869,000. Institutional investors and hedge funds own 46.14% of the company’s stock.

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.