Navitas Semiconductor (NASDAQ:NVTS) Price Target Cut to $4.25 by Analysts at Craig Hallum

Navitas Semiconductor (NASDAQ:NVTS) had its price target reduced by equities research analysts at Craig Hallum from $6.50 to $4.25 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Craig Hallum’s target price would suggest a potential upside of 80.85% from the stock’s previous close.

A number of other research firms have also weighed in on NVTS. Rosenblatt Securities reissued a “buy” rating and issued a $7.50 target price on shares of Navitas Semiconductor in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft cut their target price on Navitas Semiconductor from $7.00 to $6.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. 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. Needham & Company LLC reduced their price objective on Navitas Semiconductor from $7.00 to $5.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Finally, Robert W. Baird lowered their target price on Navitas Semiconductor from $7.00 to $5.00 and set an “outperform” rating for the company in a report on Tuesday. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $5.04.

Navitas Semiconductor Trading Down 10.0 %

NASDAQ:NVTS opened at $2.35 on Tuesday. Navitas Semiconductor has a 12-month low of $2.14 and a 12-month high of $8.44. The stock has a 50-day moving average price of $2.52 and a 200 day moving average price of $3.45. The stock has a market capitalization of $430.29 million, a P/E ratio of -8.39 and a beta of 2.36.

Navitas Semiconductor (NASDAQ:NVTS) last issued its quarterly earnings data 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 analyst estimates of $21.93 million. Navitas Semiconductor had a negative return on equity of 22.29% and a negative net margin of 55.70%. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter last year, the business posted ($0.10) earnings per share. On average, research analysts predict that Navitas Semiconductor will post -0.53 earnings per share for the current fiscal year.

Insider Transactions at Navitas Semiconductor

In other news, CEO Eugene Sheridan sold 453,190 shares of the stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $3.03, for a total value of $1,373,165.70. Following the sale, the chief executive officer now owns 2,608,441 shares in the company, valued at $7,903,576.23. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 shares were 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 in the company, valued at approximately $7,903,576.23. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Daniel M. Kinzer sold 150,000 shares of the firm’s 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 sale, the chief operating officer now owns 4,388,353 shares in the company, valued at $13,603,894.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 829,852 shares of company stock worth $2,528,252 over the last three months. 31.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Navitas Semiconductor

Several institutional investors and hedge funds have recently added to or reduced their stakes in NVTS. Point72 Asset Management L.P. raised 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 worth $16,834,000 after purchasing an additional 4,127,940 shares during the last quarter. Masters Capital Management LLC raised its position in shares of 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 buying an additional 900,000 shares during the last quarter. Squarepoint Ops LLC purchased a new position in shares of Navitas Semiconductor in the second quarter worth about $2,364,000. Kodai Capital Management LP boosted its holdings 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 worth $21,535,000 after purchasing an additional 565,463 shares during the last quarter. Finally, Rice Hall James & Associates LLC acquired a new stake in shares of Navitas Semiconductor in the second quarter valued at approximately $2,151,000. Hedge funds and other 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.