Navitas Semiconductor’s (NVTS) “Buy” Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities restated their buy rating on shares of Navitas Semiconductor (NASDAQ:NVTS) in a report released on Thursday, Benzinga reports. Rosenblatt Securities currently has a $7.50 target price on the stock.

Several other research analysts have also commented on NVTS. Craig Hallum lowered their price objective on shares of Navitas Semiconductor from $7.50 to $6.50 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Needham & Company LLC decreased 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 cut their price objective on Navitas Semiconductor from $4.60 to $3.50 and set an “equal weight” rating on the stock in a research report on Tuesday, August 6th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Navitas Semiconductor from $7.00 to $6.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Navitas Semiconductor currently has a consensus rating of “Moderate Buy” and a consensus price target of $5.64.

Navitas Semiconductor Stock Up 4.5 %

NASDAQ:NVTS opened at $2.58 on Thursday. Navitas Semiconductor has a 52 week low of $2.14 and a 52 week high of $8.44. The stock’s fifty day moving average is $2.53 and its two-hundred day moving average is $3.46. The stock has a market capitalization of $472.40 million, a price-to-earnings ratio of -9.21 and a beta of 2.36.

Navitas Semiconductor (NASDAQ:NVTS) last posted its earnings results on Monday, August 5th. The company reported ($0.07) earnings per share (EPS) 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 firm had revenue of $20.50 million for the quarter, compared to analyst estimates of $20.01 million. During the same period in the previous year, the company posted ($0.12) EPS. Navitas Semiconductor’s revenue was up 13.3% on a year-over-year basis. On average, sell-side analysts expect that Navitas Semiconductor will post -0.53 EPS for the current fiscal year.

Insider Buying and Selling at Navitas Semiconductor

In other 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 transaction of $1,373,165.70. Following the completion of the transaction, the chief executive officer now directly owns 2,608,441 shares of the company’s stock, valued at approximately $7,903,576.23. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director David Moxam sold 33,000 shares of Navitas Semiconductor stock in a transaction on Thursday, August 15th. The shares were 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Eugene Sheridan sold 453,190 shares of the business’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $3.03, for a total transaction of $1,373,165.70. Following the completion of the sale, the chief executive officer now directly owns 2,608,441 shares of the company’s stock, valued at approximately $7,903,576.23. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 829,852 shares of company stock worth $2,528,252 over the last ninety days. Corporate insiders own 31.80% of the company’s stock.

Institutional Trading of Navitas Semiconductor

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Rice Hall James & Associates LLC acquired a new position in Navitas Semiconductor during the second quarter worth approximately $2,151,000. Point72 Asset Management L.P. grew its position in shares of Navitas Semiconductor by 2,656.2% during the second 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. Squarepoint Ops LLC purchased a new position in shares of Navitas Semiconductor during the second quarter worth approximately $2,364,000. Masters Capital Management LLC increased its holdings in shares of Navitas Semiconductor by 90.0% in the 2nd 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 period. Finally, Vanguard Group Inc. raised its position in Navitas Semiconductor by 2.6% in 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 during the last quarter. Institutional investors and hedge funds 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.