Navitas Semiconductor Co. (NASDAQ:NVTS) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Navitas Semiconductor Co. (NASDAQ:NVTS) have received a consensus rating of “Moderate Buy” from the seven brokerages that are currently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $4.75.

Several analysts have weighed in on NVTS shares. Craig Hallum lowered their price objective on Navitas Semiconductor from $6.50 to $4.25 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Rosenblatt Securities reiterated a “buy” rating and set a $7.50 price target on shares of Navitas Semiconductor in a report on Thursday, October 31st. Robert W. Baird cut their price target on shares of Navitas Semiconductor from $7.00 to $5.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Navitas Semiconductor from $6.00 to $4.00 and set a “buy” rating for the company in a report on Tuesday, November 5th.

Insider Activity

In other news, Director Richard J. Hendrix sold 80,000 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $4.04, for a total value of $323,200.00. Following the completion of the transaction, the director now owns 356,709 shares of the company’s stock, valued at approximately $1,441,104.36. This represents a 18.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 31.80% of the company’s stock.

Institutional Investors Weigh In On Navitas Semiconductor

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC boosted its holdings in shares of Navitas Semiconductor by 5.4% during the 2nd quarter. Commonwealth Equity Services LLC now owns 77,940 shares of the company’s stock valued at $306,000 after buying an additional 4,000 shares in the last quarter. Rhumbline Advisers lifted its position in Navitas Semiconductor by 10.5% during the 2nd quarter. Rhumbline Advisers now owns 178,306 shares of the company’s stock valued at $701,000 after acquiring an additional 16,892 shares during the period. Vanguard Personalized Indexing Management LLC boosted its stake in Navitas Semiconductor by 48.9% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 24,826 shares of the company’s stock worth $98,000 after acquiring an additional 8,156 shares in the last quarter. Ensign Peak Advisors Inc grew its holdings in Navitas Semiconductor by 5.2% in the second quarter. Ensign Peak Advisors Inc now owns 77,245 shares of the company’s stock worth $304,000 after purchasing an additional 3,800 shares during the period. Finally, DRW Securities LLC bought a new position in shares of Navitas Semiconductor during the second quarter valued at approximately $46,000. 46.14% of the stock is owned by hedge funds and other institutional investors.

Navitas Semiconductor Stock Performance

NVTS stock opened at $3.26 on Tuesday. The firm has a market cap of $608.97 million, a P/E ratio of -7.76 and a beta of 2.23. The firm’s fifty day moving average is $3.18 and its 200 day moving average is $3.04. Navitas Semiconductor has a 52 week low of $1.75 and a 52 week high of $7.40.

Navitas Semiconductor (NASDAQ:NVTS) last released its quarterly earnings data on Monday, November 4th. The company reported ($0.06) EPS for the quarter, hitting the consensus estimate of ($0.06). Navitas Semiconductor had a negative return on equity of 23.64% and a negative net margin of 84.61%. The firm had revenue of $21.68 million for the quarter, compared to the consensus estimate of $21.93 million. During the same quarter in the previous year, the business earned ($0.10) earnings per share. The company’s quarterly revenue was down 1.4% on a year-over-year basis. As a group, analysts forecast that Navitas Semiconductor will post -0.51 EPS 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.