Navitas Semiconductor (NASDAQ:NVTS) Given New $4.00 Price Target at Deutsche Bank Aktiengesellschaft

Navitas Semiconductor (NASDAQ:NVTS - Free Report) had its target price lowered by Deutsche Bank Aktiengesellschaft from $6.00 to $4.00 in a report issued on Tuesday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other research firms have also recently commented on NVTS. Robert W. Baird reduced their price objective on shares of Navitas Semiconductor from $7.00 to $5.00 and set an "outperform" rating for the company in a research report on Tuesday. Craig Hallum reduced their target price on shares of Navitas Semiconductor from $6.50 to $4.25 and set a "buy" rating for the company in a report on Tuesday. Morgan Stanley cut their price objective 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 reaffirmed a "buy" rating and issued a $7.50 target price on shares of Navitas Semiconductor in a research report on Thursday, October 31st. Finally, Needham & Company LLC lowered their price objective 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. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Navitas Semiconductor has a consensus rating of "Moderate Buy" and a consensus target price of $4.75.

Navitas Semiconductor Stock Down 9.6 %

Shares of NASDAQ NVTS traded down $0.25 during trading hours on Tuesday, hitting $2.36. The company had a trading volume of 6,119,114 shares, compared to its average volume of 2,667,175. Navitas Semiconductor has a 1-year low of $2.14 and a 1-year high of $8.44. The firm's 50 day moving average is $2.51 and its 200-day moving average is $3.44. The stock has a market capitalization of $432.12 million, a P/E ratio of -8.43 and a beta of 2.36.

Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last released its quarterly earnings data on Monday, November 4th. The company reported ($0.06) earnings per share for the quarter, hitting the consensus estimate of ($0.06). Navitas Semiconductor had a negative net margin of 55.70% and a negative return on equity of 22.29%. The company had revenue of $21.68 million for the quarter, compared to analyst estimates of $21.93 million. During the same period in the previous year, the business earned ($0.10) EPS. Navitas Semiconductor's revenue for the quarter was down 1.4% compared to the same quarter last year. On average, sell-side analysts predict that Navitas Semiconductor will post -0.53 earnings per share for the current year.

Insider Buying and Selling

In other Navitas Semiconductor news, Director David Moxam sold 33,000 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $3.13, for a total transaction of $103,290.00. Following the sale, the director now directly owns 867,848 shares in the company, valued at $2,716,364.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Eugene Sheridan sold 193,662 shares of the firm's stock in a transaction dated 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 directly owns 2,149,631 shares of the company's stock, valued at $6,513,381.93. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director David Moxam sold 33,000 shares of Navitas Semiconductor stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $3.13, for a total value of $103,290.00. Following the completion of the transaction, the director now owns 867,848 shares in the company, valued at approximately $2,716,364.24. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 829,852 shares of company stock worth $2,528,252. Company insiders own 31.80% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. DRW Securities LLC bought a new position in Navitas Semiconductor in the 2nd quarter valued at approximately $46,000. Wedbush Securities Inc. bought a new stake in Navitas Semiconductor during the 2nd quarter worth $49,000. Algert Global LLC bought a new stake in Navitas Semiconductor during the 2nd quarter worth $50,000. SG Americas Securities LLC bought a new position in Navitas Semiconductor in the first quarter valued at about $65,000. Finally, Bleakley Financial Group LLC acquired a new position in shares of Navitas Semiconductor in the third quarter valued at approximately $41,000. Institutional investors own 46.14% of the company's stock.

About Navitas Semiconductor

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.