Robert W. Baird Lowers Navitas Semiconductor (NASDAQ:NVTS) Price Target to $7.00

Navitas Semiconductor (NASDAQ:NVTS) had its target price reduced by research analysts at Robert W. Baird from $12.00 to $7.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s target price indicates a potential upside of 49.25% from the stock’s previous close.

A number of other research analysts have also commented on NVTS. Needham & Company LLC decreased their price objective on Navitas Semiconductor from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Friday, March 1st. Northland Securities began coverage on Navitas Semiconductor in a report on Tuesday, January 16th. They issued a “market perform” rating on the stock. Finally, Rosenblatt Securities reissued a “buy” rating and set a $12.00 price objective on shares of Navitas Semiconductor in a report on Friday, May 3rd. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $8.65.

Navitas Semiconductor Stock Up 2.4 %

Shares of NASDAQ NVTS opened at $4.69 on Friday. Navitas Semiconductor has a 12-month low of $3.54 and a 12-month high of $11.16. The firm’s 50-day simple moving average is $4.58 and its 200 day simple moving average is $5.94. The company has a market cap of $840.68 million, a price-to-earnings ratio of -5.33 and a beta of 2.52.

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

Insider Transactions at Navitas Semiconductor

In related news, COO Daniel M. Kinzer sold 24,073 shares of the company’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $4.80, for a total value of $115,550.40. Following the completion of the sale, the chief operating officer now owns 4,538,353 shares in the company, valued at $21,784,094.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Navitas Semiconductor news, CEO Eugene Sheridan sold 38,431 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 value of $184,468.80. Following the sale, the chief executive officer now directly owns 3,061,631 shares in the company, valued at $14,695,828.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Daniel M. Kinzer sold 24,073 shares of the business’s 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 completion of the transaction, the chief operating officer now directly owns 4,538,353 shares of the company’s stock, valued at approximately $21,784,094.40. The disclosure for this sale can be found here. Insiders have sold 73,429 shares of company stock worth $352,459 in the last three months. Insiders own 36.80% of the company’s stock.

Institutional Trading of Navitas Semiconductor

Several hedge funds have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC grew its stake in Navitas Semiconductor by 241.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,043 shares of the company’s stock valued at $57,000 after acquiring an additional 4,982 shares during the period. Benjamin F. Edwards & Company Inc. increased its stake in Navitas Semiconductor by 72.5% during 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 in the last quarter. SG Americas Securities LLC acquired a new stake in Navitas Semiconductor during the 1st quarter worth approximately $65,000. Atria Wealth Solutions Inc. acquired a new stake in Navitas Semiconductor during the 4th quarter worth approximately $81,000. Finally, Mackenzie Financial Corp bought a new position in Navitas Semiconductor in the third quarter valued at approximately $87,000. 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.