Shares of Navitas Semiconductor Co. (NASDAQ:NVTS - Get Free Report) saw an uptick in trading volume on Monday . 4,726,098 shares changed hands during trading, an increase of 45% from the previous session's volume of 3,249,466 shares.The stock last traded at $3.71 and had previously closed at $3.17.
Wall Street Analyst Weigh In
Several equities analysts recently commented on NVTS shares. Craig Hallum dropped their price objective on Navitas Semiconductor from $6.50 to $4.25 and set a "buy" rating on the stock in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Navitas Semiconductor from $6.00 to $4.00 and set a "buy" rating on the stock in a research note on Tuesday, November 5th. Robert W. Baird decreased their price objective on Navitas Semiconductor from $7.00 to $5.00 and set an "outperform" rating for the company in a report on Tuesday, November 5th. Finally, 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. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $4.75.
Read Our Latest Research Report on NVTS
Navitas Semiconductor Stock Performance
The stock has a market cap of $721.03 million, a PE ratio of -9.19 and a beta of 2.37. The firm has a fifty day moving average price of $2.73 and a 200 day moving average price of $3.13.
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 for the quarter, meeting analysts' consensus estimates of ($0.06). The firm had revenue of $21.68 million for the quarter, compared to analyst estimates of $21.93 million. Navitas Semiconductor had a negative net margin of 84.61% and a negative return on equity of 23.64%. The business's quarterly revenue was down 1.4% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.10) earnings per share. On average, equities research analysts forecast that Navitas Semiconductor Co. will post -0.51 earnings per share for the current year.
Insider Buying and Selling
In other news, Director Richard J. Hendrix sold 80,000 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $4.04, for a total transaction of $323,200.00. Following the completion of the transaction, the director now directly owns 356,709 shares in the company, valued at approximately $1,441,104.36. This represents a 18.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 31.80% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Navitas Semiconductor
A number of institutional investors and hedge funds have recently made changes to their positions in NVTS. M&T Bank Corp lifted its holdings in shares of Navitas Semiconductor by 29.6% in the 3rd quarter. M&T Bank Corp now owns 159,804 shares of the company's stock valued at $392,000 after purchasing an additional 36,504 shares during the last quarter. State Street Corp grew its holdings in 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 acquiring an additional 221,575 shares during the period. Quadrature Capital Ltd acquired a new stake in shares of Navitas Semiconductor in the third quarter valued at about $172,000. Point72 Asset Management L.P. grew its holdings in shares of Navitas Semiconductor by 87.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 8,031,474 shares of the company's stock worth $19,677,000 after acquiring an additional 3,748,124 shares during the period. Finally, Centiva Capital LP purchased a new position in shares of Navitas Semiconductor in the third quarter valued at $195,000. 46.14% of the stock is owned by institutional investors and hedge funds.
About Navitas Semiconductor
(
Get Free Report)
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.
Featured Stories
Before you consider Navitas Semiconductor, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Navitas Semiconductor wasn't on the list.
While Navitas Semiconductor currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
