Analysts Set Navitas Semiconductor Co. (NASDAQ:NVTS) PT at $4.75

Navitas Semiconductor Co. (NASDAQ:NVTS - Get Free Report) has earned an average rating of "Moderate Buy" from the seven brokerages that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $4.75.

Several research analysts recently weighed in on NVTS shares. Rosenblatt Securities restated a "buy" rating and issued a $7.50 price objective on shares of Navitas Semiconductor in a research report on Thursday, October 31st. Craig Hallum decreased 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, November 5th. 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 report on Tuesday, November 5th. Finally, Robert W. Baird reduced their target price on Navitas Semiconductor from $7.00 to $5.00 and set an "outperform" rating on the stock in a research note on Tuesday, November 5th.

Navitas Semiconductor Price Performance

NASDAQ:NVTS traded up $0.32 during trading hours on Tuesday, hitting $3.58. The stock had a trading volume of 3,144,914 shares, compared to its average volume of 5,029,940. The company has a 50 day simple moving average of $3.18 and a two-hundred day simple moving average of $3.04. The firm has a market capitalization of $667.81 million, a price-to-earnings ratio of -8.51 and a beta of 2.23. Navitas Semiconductor has a one year low of $1.75 and a one year high of $7.40.

Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.06). The company had revenue of $21.68 million during the quarter, compared to analyst estimates of $21.93 million. Navitas Semiconductor had a negative return on equity of 23.64% and a negative net margin of 84.61%. The firm's quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter last year, the company earned ($0.10) earnings per share. Equities research analysts anticipate that Navitas Semiconductor will post -0.51 earnings per share for the current year.

Insider Buying and Selling at Navitas Semiconductor

In other Navitas Semiconductor news, Director Richard J. Hendrix sold 40,000 shares of Navitas Semiconductor stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $4.54, for a total value of $181,600.00. Following the transaction, the director now directly owns 316,709 shares of the company's stock, valued at $1,437,858.86. The trade was a 11.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 31.80% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Point72 Asset Management L.P. boosted its position in Navitas Semiconductor by 87.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 8,031,474 shares of the company's stock valued at $19,677,000 after buying an additional 3,748,124 shares during the period. State Street Corp boosted its holdings in shares of Navitas Semiconductor by 4.0% during the third quarter. State Street Corp now owns 5,826,638 shares of the company's stock worth $14,275,000 after purchasing an additional 221,575 shares during the period. ArrowMark Colorado Holdings LLC grew its stake in shares of Navitas Semiconductor by 31.2% in the third quarter. ArrowMark Colorado Holdings LLC now owns 3,556,379 shares of the company's stock worth $8,713,000 after purchasing an additional 845,664 shares during the last quarter. Masters Capital Management LLC grew its stake in shares of Navitas Semiconductor by 90.0% in the second quarter. Masters Capital Management LLC now owns 1,900,000 shares of the company's stock worth $7,467,000 after purchasing an additional 900,000 shares during the last quarter. Finally, Squarepoint Ops LLC purchased a new position in Navitas Semiconductor during the 2nd quarter valued at about $2,364,000. 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.