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

Navitas Semiconductor Co. (NASDAQ:NVTS - Get Free Report) has earned an average recommendation of "Moderate Buy" from the eight ratings firms that are presently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $4.75.

NVTS has been the topic of a number of recent research reports. Robert W. Baird dropped their target price on Navitas Semiconductor from $7.00 to $5.00 and set an "outperform" rating on the stock in a report on Tuesday, November 5th. Rosenblatt Securities reaffirmed a "buy" rating and set a $7.50 price target on shares of Navitas Semiconductor in a research report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft lowered their target price on Navitas Semiconductor from $6.00 to $4.00 and set a "buy" rating on the stock in a research note on Tuesday, November 5th. Morgan Stanley lowered their target price on Navitas Semiconductor from $4.60 to $3.50 and set an "equal weight" rating on the stock in a research note on Tuesday, August 6th. Finally, Needham & Company LLC lowered their price target on shares of Navitas Semiconductor from $7.00 to $5.00 and set a "buy" rating on the stock in a research report on Tuesday, August 6th.

Navitas Semiconductor Trading Up 7.6 %

NASDAQ:NVTS traded up $0.21 during trading hours on Monday, hitting $2.96. 5,931,876 shares of the company were exchanged, compared to its average volume of 2,772,920. The stock has a market capitalization of $552.92 million, a price-to-earnings ratio of -7.24 and a beta of 2.36. The company has a fifty day simple moving average of $2.37 and a 200 day simple moving average of $3.17. Navitas Semiconductor has a one year low of $1.75 and a one year high of $8.44.

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

Institutional Investors Weigh In On Navitas Semiconductor

A number of large investors have recently modified their holdings of NVTS. Benjamin Edwards Inc. bought a new stake in Navitas Semiconductor during the 3rd quarter valued at approximately $36,000. Bleakley Financial Group LLC bought a new stake in shares of Navitas Semiconductor during the 3rd quarter valued at $41,000. GSA Capital Partners LLP purchased a new stake in shares of Navitas Semiconductor in the 3rd quarter worth about $44,000. DRW Securities LLC bought a new position in shares of Navitas Semiconductor in the 2nd quarter worth about $46,000. Finally, Wedbush Securities Inc. purchased a new stake in Navitas Semiconductor in the second quarter worth about $49,000. 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.