Navitas Semiconductor Co. (NASDAQ:NVTS) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Navitas Semiconductor Co. (NASDAQ:NVTS) has been given an average recommendation of “Moderate Buy” by the eight ratings firms that are covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $6.00.

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

Insider Activity at Navitas Semiconductor

In related news, CEO Eugene Sheridan sold 193,662 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $3.03, for a total transaction of $586,795.86. Following the completion of the sale, the chief executive officer now directly owns 2,149,631 shares of the company’s stock, valued at $6,513,381.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, 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 transaction, the chief operating officer now owns 4,388,353 shares in the company, valued at $13,603,894.30. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Eugene Sheridan sold 193,662 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $3.03, for a total value of $586,795.86. Following the transaction, the chief executive officer now directly owns 2,149,631 shares of the company’s stock, valued at $6,513,381.93. The disclosure for this sale can be found here. Insiders have sold 829,852 shares of company stock valued at $2,528,252 over the last ninety days. Corporate insiders own 31.80% of the company’s stock.

Institutional Trading of Navitas Semiconductor

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Navitas Semiconductor by 2.6% during the first 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 during the last quarter. Kodai Capital Management LP raised its position in shares of Navitas Semiconductor by 14.3% during the 1st quarter. Kodai Capital Management LP now owns 4,514,576 shares of the company’s stock valued at $21,535,000 after buying an additional 565,463 shares in the last quarter. Point72 Asset Management L.P. lifted its holdings 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 worth $16,834,000 after acquiring an additional 4,127,940 shares during the last quarter. Intrinsic Edge Capital Management LLC grew its position in Navitas Semiconductor by 91.6% in the fourth quarter. Intrinsic Edge Capital Management LLC now owns 2,717,692 shares of the company’s stock worth $21,932,000 after acquiring an additional 1,299,524 shares in the last quarter. Finally, Masters Capital Management LLC increased its stake in Navitas Semiconductor by 90.0% in the second quarter. Masters Capital Management LLC now owns 1,900,000 shares of the company’s stock valued at $7,467,000 after acquiring an additional 900,000 shares during the last quarter. Hedge funds and other institutional investors own 46.14% of the company’s stock.

Navitas Semiconductor Price Performance

Shares of NVTS opened at $2.23 on Wednesday. The firm has a market capitalization of $408.32 million, a PE ratio of -4.37 and a beta of 2.40. The company’s 50-day moving average is $3.16 and its 200-day moving average is $3.90. Navitas Semiconductor has a fifty-two week low of $2.22 and a fifty-two week high of $8.44.

Navitas Semiconductor (NASDAQ:NVTS) last issued its quarterly earnings data on Monday, August 5th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.01). Navitas Semiconductor had a negative return on equity of 22.29% and a negative net margin of 55.70%. The business had revenue of $20.50 million during the quarter, compared to analyst estimates of $20.01 million. During the same quarter last year, the firm earned ($0.12) EPS. Navitas Semiconductor’s revenue for the quarter was up 13.3% compared to the same quarter last year. Analysts predict that Navitas Semiconductor will post -0.53 earnings per share for the current fiscal year.

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.