Navitas Semiconductor Co. (NASDAQ:NVTS) Receives $7.41 Consensus Price Target from Analysts

Navitas Semiconductor Co. (NASDAQ:NVTS) has been given an average rating of “Moderate Buy” by the eight brokerages that are presently covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $7.41.

A number of brokerages have recently issued reports on NVTS. Needham & Company LLC cut their price objective on shares of Navitas Semiconductor from $9.00 to $7.00 and set a “buy” rating on the stock in a research report on Friday, May 10th. Jefferies Financial Group reiterated a “hold” rating and issued a $4.00 target price (down from $10.00) on shares of Navitas Semiconductor in a research note on Monday, May 13th. Rosenblatt Securities lowered their target price on shares of Navitas Semiconductor from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Friday, May 10th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Navitas Semiconductor from $9.00 to $7.00 and set a “buy” rating for the company in a research note on Friday, May 10th. Finally, Robert W. Baird lowered their target price on shares of Navitas Semiconductor from $12.00 to $7.00 and set an “outperform” rating for the company in a research note on Friday, May 10th.

Navitas Semiconductor Stock Up 1.1 %

Shares of Navitas Semiconductor stock opened at $3.79 on Thursday. The firm’s 50 day moving average price is $4.33 and its 200-day moving average price is $5.85. Navitas Semiconductor has a 52-week low of $3.54 and a 52-week high of $11.16. The company has a market cap of $679.36 million, a P/E ratio of -7.43 and a beta of 2.52.

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 analysts’ consensus estimates of ($0.13) by $0.02. Navitas Semiconductor had a negative net margin of 97.75% and a negative return on equity of 21.22%. The firm had revenue of $26.06 million for the quarter, compared to the consensus estimate of $25.68 million. As a group, equities research analysts forecast that Navitas Semiconductor will post -0.5 EPS for the current fiscal year.

Insider Buying and Selling at Navitas Semiconductor

In other Navitas Semiconductor news, COO Daniel M. Kinzer sold 24,073 shares of the company’s 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 transaction, the chief operating officer now owns 4,538,353 shares of the company’s stock, valued at $21,784,094.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, COO Daniel M. Kinzer sold 24,073 shares of the stock in a transaction dated 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 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. Also, CEO Eugene Sheridan sold 38,431 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $4.80, for a total transaction of $184,468.80. Following the sale, the chief executive officer now directly owns 3,061,631 shares in the company, valued at approximately $14,695,828.80. The disclosure for this sale can be found here. Insiders have sold 73,429 shares of company stock valued at $352,459 over the last 90 days. 31.80% of the stock is owned by insiders.

Institutional Trading of Navitas Semiconductor

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Board of Administration of Florida Retirement System raised its holdings in Navitas Semiconductor by 7.8% during the third quarter. State Board of Administration of Florida Retirement System now owns 31,230 shares of the company’s stock worth $217,000 after purchasing an additional 2,250 shares in the last quarter. ProShare Advisors LLC increased its holdings in shares of Navitas Semiconductor by 12.5% in the 1st quarter. ProShare Advisors LLC now owns 20,348 shares of the company’s stock valued at $97,000 after acquiring an additional 2,258 shares during the period. Laidlaw Wealth Management LLC increased its holdings in shares of Navitas Semiconductor by 16.7% in the 4th quarter. Laidlaw Wealth Management LLC now owns 18,316 shares of the company’s stock valued at $148,000 after acquiring an additional 2,618 shares during the period. Victory Capital Management Inc. grew its position in Navitas Semiconductor by 23.9% in the 4th quarter. Victory Capital Management Inc. now owns 15,842 shares of the company’s stock valued at $128,000 after buying an additional 3,052 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in Navitas Semiconductor by 16.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,646 shares of the company’s stock valued at $151,000 after buying an additional 4,533 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.