Navitas Semiconductor (NASDAQ:NVTS) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Navitas Semiconductor (NASDAQ:NVTS) from a sell rating to a hold rating in a research report released on Saturday,Wall Street Zen reports.

Several other brokerages have also recently commented on NVTS. Jefferies Financial Group set a $13.00 price target on Navitas Semiconductor in a research report on Tuesday, July 28th. Weiss Ratings reissued a “sell (d-)” rating on shares of Navitas Semiconductor in a research note on Monday, September 14th. Rosenblatt Securities upgraded Navitas Semiconductor from a “neutral” rating to a “buy” rating and set a $13.00 price objective on the stock in a report on Wednesday, November 4th. Needham & Company LLC lowered their target price on shares of Navitas Semiconductor from $21.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, November 4th. Finally, Craig Hallum raised shares of Navitas Semiconductor from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a report on Wednesday, November 4th. Four research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $14.43.

Navitas Semiconductor Trading Up 11.3%

NASDAQ:NVTS opened at $9.58 on Friday. Navitas Semiconductor has a 12 month low of $6.85 and a 12 month high of $34.17. The stock has a 50 day moving average of $10.45 and a two-hundred day moving average of $13.21.

Navitas Semiconductor (NASDAQ:NVTS) last announced its earnings results on Tuesday, November 3rd. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. The business had revenue of $13.99 million during the quarter, compared to analysts’ expectations of $13.42 million. Navitas Semiconductor had a negative return on equity of 11.84% and a negative net margin of 818.84%. The business’s revenue was up 38.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.05) earnings per share. On average, sell-side analysts expect that Navitas Semiconductor will post -0.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Navitas Semiconductor

A number of institutional investors have recently added to or reduced their stakes in the stock. Allworth Financial LP grew its holdings in Navitas Semiconductor by 75.3% in the 3rd quarter. Allworth Financial LP now owns 12,110 shares of the company’s stock valued at $141,000 after buying an additional 5,203 shares in the last quarter. Almanack Investment Partners LLC. increased its stake in shares of Navitas Semiconductor by 38.0% in the 3rd quarter. Almanack Investment Partners LLC. now owns 45,250 shares of the company’s stock worth $525,000 after acquiring an additional 12,450 shares during the last quarter. 180 Wealth Advisors LLC increased its stake in shares of Navitas Semiconductor by 3.5% in the 3rd quarter. 180 Wealth Advisors LLC now owns 127,626 shares of the company’s stock worth $1,482,000 after acquiring an additional 4,294 shares during the last quarter. StoneX Group Inc. purchased a new position in shares of Navitas Semiconductor during the 3rd quarter worth $131,000. Finally, CenterBook Partners LP purchased a new position in shares of Navitas Semiconductor during the 3rd quarter worth $312,000. Hedge funds and other institutional investors own 46.14% of the company’s stock.

About Navitas Semiconductor