Navitas Semiconductor Co. (NASDAQ:NVTS) Receives $6.00 Average Target Price from Brokerages

Shares of Navitas Semiconductor Co. (NASDAQ:NVTS) have been assigned a consensus recommendation of “Moderate Buy” from the eight analysts that are covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $6.00.

Several analysts recently issued reports on the stock. Craig Hallum reduced their price target on shares of Navitas Semiconductor from $7.50 to $6.50 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Morgan Stanley reduced their price target on shares of Navitas Semiconductor from $4.60 to $3.50 and set an “equal weight” rating for the company in a research report on Tuesday, August 6th. Rosenblatt Securities reissued a “buy” rating and issued a $10.00 price target on shares of Navitas Semiconductor in a research report on Friday, August 2nd. Needham & Company LLC dropped their price objective on Navitas Semiconductor from $7.00 to $5.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective 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.

Insider Transactions at Navitas Semiconductor

In other news, CEO Eugene Sheridan sold 193,662 shares of Navitas Semiconductor stock in a transaction on Friday, August 30th. The stock was sold at an average price of $3.03, for a total transaction of $586,795.86. Following the sale, the chief executive officer now directly owns 2,149,631 shares in the company, valued at approximately $6,513,381.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, COO Daniel M. Kinzer sold 150,000 shares of Navitas Semiconductor stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $3.10, for a total transaction of $465,000.00. Following the sale, the chief operating officer now directly owns 4,388,353 shares in the company, valued at approximately $13,603,894.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Eugene Sheridan sold 193,662 shares of Navitas Semiconductor stock in a transaction on Friday, August 30th. The stock was sold at an average price of $3.03, for a total value of $586,795.86. Following the sale, the chief executive officer now owns 2,149,631 shares in the company, valued at $6,513,381.93. The disclosure for this sale can be found here. Insiders have sold 829,852 shares of company stock worth $2,528,252 in the last ninety days. Company insiders own 31.80% of the company’s stock.

Institutional Investors Weigh In On Navitas Semiconductor

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Navitas Semiconductor by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 9,009,587 shares of the company’s stock worth $42,976,000 after acquiring an additional 232,496 shares during the last quarter. Kodai Capital Management LP increased its holdings in Navitas Semiconductor by 14.3% in the 1st quarter. Kodai Capital Management LP now owns 4,514,576 shares of the company’s stock worth $21,535,000 after acquiring an additional 565,463 shares during the last quarter. Point72 Asset Management L.P. increased its holdings in Navitas Semiconductor by 2,656.2% in the 2nd quarter. Point72 Asset Management L.P. now owns 4,283,350 shares of the company’s stock worth $16,834,000 after acquiring an additional 4,127,940 shares during the last quarter. Intrinsic Edge Capital Management LLC increased its holdings in Navitas Semiconductor by 91.6% in the 4th quarter. Intrinsic Edge Capital Management LLC now owns 2,717,692 shares of the company’s stock worth $21,932,000 after acquiring an additional 1,299,524 shares during the last quarter. Finally, Masters Capital Management LLC increased its holdings in Navitas Semiconductor by 90.0% in the 2nd quarter. Masters Capital Management LLC now owns 1,900,000 shares of the company’s stock worth $7,467,000 after acquiring an additional 900,000 shares during the last quarter. Hedge funds and other institutional investors own 46.14% of the company’s stock.

Navitas Semiconductor Stock Down 7.1 %

Shares of NVTS stock opened at $2.23 on Wednesday. The firm has a 50 day moving average of $3.16 and a 200-day moving average of $3.93. Navitas Semiconductor has a 52 week low of $2.22 and a 52 week high of $8.44. The company has a market cap of $408.32 million, a price-to-earnings ratio of -4.37 and a beta of 2.40.

Navitas Semiconductor (NASDAQ:NVTS) last posted its quarterly earnings results on Monday, August 5th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.01). Navitas Semiconductor had a negative net margin of 55.70% and a negative return on equity of 22.29%. The business had revenue of $20.50 million during the quarter, compared to analyst estimates of $20.01 million. During the same period in the previous year, the business posted ($0.12) EPS. The business’s revenue for the quarter was up 13.3% compared to the same quarter last year. Analysts anticipate that Navitas Semiconductor will post -0.53 earnings per share for the current year.

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.