Navitas Semiconductor (NASDAQ:NVTS) Earns “Buy” Rating from Rosenblatt Securities

Rosenblatt Securities restated their buy rating on shares of Navitas Semiconductor (NASDAQ:NVTS) in a research report report published on Friday, Benzinga reports. They currently have a $12.00 price target on the stock.

NVTS has been the topic of several other research reports. Northland Securities initiated coverage on shares of Navitas Semiconductor in a research note on Tuesday, January 16th. They set a market perform rating on the stock. Needham & Company LLC lowered their price objective on Navitas Semiconductor from $10.00 to $9.00 and set a buy rating for the company in a research report 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 stock has an average rating of Moderate Buy and a consensus target price of $9.82.

Navitas Semiconductor Price Performance

Shares of Navitas Semiconductor stock traded up $0.15 on Friday, hitting $4.80. The company’s stock had a trading volume of 1,620,507 shares, compared to its average volume of 2,845,444. Navitas Semiconductor has a 52-week low of $3.54 and a 52-week high of $11.16. The firm has a fifty day moving average price of $4.67 and a 200-day moving average price of $5.97.

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

Insider Transactions at Navitas Semiconductor

In other Navitas Semiconductor news, COO Daniel M. Kinzer sold 24,073 shares of the stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $4.80, for a total transaction of $115,550.40. Following the sale, the chief operating officer now directly owns 4,538,353 shares of the company’s stock, valued at $21,784,094.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO Daniel M. Kinzer sold 24,073 shares of Navitas Semiconductor stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $4.80, for a total value of $115,550.40. Following the sale, the chief operating officer now directly owns 4,538,353 shares in the company, valued at approximately $21,784,094.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Ranbir Singh sold 10,925 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $4.80, for a total value of $52,440.00. Following the completion of the transaction, the executive vice president now directly owns 29,357 shares of the company’s stock, valued at $140,913.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 73,429 shares of company stock valued at $352,459. Insiders own 36.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in NVTS. Tower Research Capital LLC TRC boosted its stake in Navitas Semiconductor by 241.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,043 shares of the company’s stock valued at $57,000 after purchasing an additional 4,982 shares in the last quarter. Atria Wealth Solutions Inc. acquired a new stake in Navitas Semiconductor in the 4th quarter valued at about $81,000. Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of Navitas Semiconductor by 52.3% during the 3rd 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. Mackenzie Financial Corp acquired a new position in shares of Navitas Semiconductor in the 3rd quarter worth approximately $87,000. Finally, Benjamin F. Edwards & Company Inc. grew its stake in shares of Navitas Semiconductor by 72.5% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 13,200 shares of the company’s stock worth $63,000 after purchasing an additional 5,550 shares during the last quarter. 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.