Navitas Semiconductor Co. (NASDAQ:NVTS) Receives $4.75 Consensus Target Price from Analysts

Shares of Navitas Semiconductor Co. (NASDAQ:NVTS - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the eight research firms that are presently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $4.75.

NVTS has been the subject of several recent research reports. Needham & Company LLC cut their price target on Navitas Semiconductor from $7.00 to $5.00 and set a "buy" rating for the company in a report on Tuesday, August 6th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $7.50 price target on shares of Navitas Semiconductor in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft cut their price target on Navitas Semiconductor from $6.00 to $4.00 and set a "buy" rating for the company in a report on Tuesday. Craig Hallum cut their price target on Navitas Semiconductor from $6.50 to $4.25 and set a "buy" rating for the company in a report on Tuesday. Finally, Morgan Stanley dropped their target price on Navitas Semiconductor from $4.60 to $3.50 and set an "equal weight" rating for the company in a report on Tuesday, August 6th.

Navitas Semiconductor Price Performance

Shares of NASDAQ NVTS traded down $0.08 during trading hours on Thursday, hitting $2.22. 2,093,744 shares of the company's stock were exchanged, compared to its average volume of 2,668,742. Navitas Semiconductor has a 1-year low of $2.14 and a 1-year high of $8.44. The stock has a market capitalization of $406.48 million, a price-to-earnings ratio of -5.48 and a beta of 2.36. The company's 50-day moving average price is $2.49 and its 200-day moving average price is $3.43.

Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The company reported ($0.06) EPS for the quarter, meeting the consensus estimate of ($0.06). The firm had revenue of $21.68 million during the quarter, compared to analysts' expectations of $21.93 million. Navitas Semiconductor had a negative return on equity of 23.51% and a negative net margin of 84.61%. The company's revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.10) EPS. On average, research analysts expect that Navitas Semiconductor will post -0.53 earnings per share for the current year.

Insider Transactions at Navitas Semiconductor

In other news, CEO Eugene Sheridan sold 453,190 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $3.03, for a total value of $1,373,165.70. Following the completion of the transaction, the chief executive officer now directly owns 2,608,441 shares of the company's stock, valued at approximately $7,903,576.23. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Eugene Sheridan sold 453,190 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $3.03, for a total transaction of $1,373,165.70. Following the sale, the chief executive officer now directly owns 2,608,441 shares in the company, valued at $7,903,576.23. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David Moxam sold 33,000 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $3.13, for a total value of $103,290.00. Following the sale, the director now owns 867,848 shares in the company, valued at approximately $2,716,364.24. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 829,852 shares of company stock valued at $2,528,252. Corporate insiders own 31.80% of the company's stock.

Institutional Investors Weigh In On Navitas Semiconductor

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in Navitas Semiconductor by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 9,009,587 shares of the company's stock valued at $42,976,000 after buying an additional 232,496 shares during the last quarter. Kodai Capital Management LP boosted its position 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 valued at $21,535,000 after buying an additional 565,463 shares during the last quarter. Point72 Asset Management L.P. boosted its position 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 valued at $16,834,000 after buying an additional 4,127,940 shares during the last quarter. Masters Capital Management LLC boosted its position 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 valued at $7,467,000 after buying an additional 900,000 shares during the last quarter. Finally, Squarepoint Ops LLC bought a new position in Navitas Semiconductor in the 2nd quarter valued at $2,364,000. 46.14% of the stock is currently owned by institutional investors.

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.