Navitas Semiconductor Co. (NASDAQ:NVTS) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Navitas Semiconductor Co. (NASDAQ:NVTS) have received a consensus recommendation of “Moderate Buy” from the eight research firms that are presently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $4.75.

Several equities analysts have recently weighed in on the company. Needham & Company LLC cut their target price on Navitas Semiconductor from $7.00 to $5.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Navitas Semiconductor from $6.00 to $4.00 and set a “buy” rating for the company in a research note on Tuesday. Rosenblatt Securities reissued a “buy” rating and issued a $7.50 target price on shares of Navitas Semiconductor in a research note on Thursday, October 31st. Robert W. Baird dropped their price target on shares of Navitas Semiconductor from $7.00 to $5.00 and set an “outperform” rating for the company in a research note on Tuesday. Finally, Craig Hallum cut their price target on shares of Navitas Semiconductor from $6.50 to $4.25 and set a “buy” rating on the stock in a report on Tuesday.

Navitas Semiconductor Stock Down 2.5 %

NVTS stock opened at $2.30 on Thursday. The company has a fifty day simple moving average of $2.49 and a two-hundred day simple moving average of $3.43. Navitas Semiconductor has a 52 week low of $2.14 and a 52 week high of $8.44. The firm has a market capitalization of $421.13 million, a P/E ratio of -5.48 and a beta of 2.36.

Navitas Semiconductor (NASDAQ:NVTS) last announced its quarterly earnings results on Monday, November 4th. The company reported ($0.06) EPS for the quarter, meeting analysts’ consensus estimates of ($0.06). Navitas Semiconductor had a negative net margin of 84.61% and a negative return on equity of 23.51%. The firm had revenue of $21.68 million during the quarter, compared to the consensus estimate of $21.93 million. During the same quarter last year, the firm earned ($0.10) EPS. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. As a group, analysts anticipate that Navitas Semiconductor will post -0.53 EPS for the current year.

Insider Transactions at Navitas Semiconductor

In other Navitas Semiconductor news, CEO Eugene Sheridan sold 193,662 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $3.03, for a total value of $586,795.86. Following the transaction, the chief executive officer now directly owns 2,149,631 shares in the company, valued at $6,513,381.93. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, COO Daniel M. Kinzer sold 150,000 shares of the firm’s 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 transaction, the chief operating officer now owns 4,388,353 shares in the company, valued at approximately $13,603,894.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Eugene Sheridan sold 193,662 shares of Navitas Semiconductor stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $3.03, for a total value of $586,795.86. Following the completion of the sale, the chief executive officer now owns 2,149,631 shares of the company’s stock, valued at $6,513,381.93. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 829,852 shares of company stock worth $2,528,252. Insiders own 31.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Bleakley Financial Group LLC bought a new stake in Navitas Semiconductor during the 3rd quarter valued at $41,000. GSA Capital Partners LLP bought a new stake in Navitas Semiconductor during the third quarter valued at about $44,000. DRW Securities LLC bought a new stake in Navitas Semiconductor during the second quarter valued at about $46,000. Wedbush Securities Inc. purchased a new position in Navitas Semiconductor in the second quarter valued at about $49,000. Finally, Algert Global LLC bought a new position in Navitas Semiconductor in the second quarter worth about $50,000. Hedge funds and other institutional investors 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.