Navitas Semiconductor Co. (NASDAQ:NVTS - Get Free Report) saw strong trading volume on Friday . 1,950,823 shares changed hands during mid-day trading, a decline of 37% from the previous session's volume of 3,110,230 shares.The stock last traded at $3.58 and had previously closed at $3.60.
Wall Street Analyst Weigh In
NVTS has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Navitas Semiconductor from $6.00 to $4.00 and set a "buy" rating on the stock in a research report on Tuesday, November 5th. Robert W. Baird dropped their price target on Navitas Semiconductor from $7.00 to $5.00 and set an "outperform" rating for the company in a research report on Tuesday, November 5th. 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, November 5th. Finally, Rosenblatt Securities reissued a "buy" rating and set a $7.50 price objective on shares of Navitas Semiconductor in a research note on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $4.75.
Get Our Latest Analysis on Navitas Semiconductor
Navitas Semiconductor Price Performance
The business has a fifty day moving average of $2.63 and a 200 day moving average of $3.17. The stock has a market capitalization of $642.58 million, a price-to-earnings ratio of -8.19 and a beta of 2.37.
Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The company reported ($0.06) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.06). The business 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 23.64% and a negative net margin of 84.61%. The company's revenue was down 1.4% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.10) EPS. On average, equities research analysts expect that Navitas Semiconductor Co. will post -0.51 EPS for the current year.
Insider Buying and Selling at Navitas Semiconductor
In related news, Director Richard J. Hendrix sold 40,000 shares of the business's stock in a transaction 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 sale, the director now owns 316,709 shares in the company, valued at approximately $1,437,858.86. The trade was a 11.21 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 31.80% of the company's stock.
Hedge Funds Weigh In On Navitas Semiconductor
Several institutional investors have recently bought and sold shares of NVTS. Point72 Asset Management L.P. grew its stake in shares of Navitas Semiconductor by 87.5% in the third 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 in the last quarter. State Street Corp boosted its holdings in Navitas Semiconductor by 4.0% in the third quarter. State Street Corp now owns 5,826,638 shares of the company's stock valued at $14,275,000 after purchasing an additional 221,575 shares during the period. ArrowMark Colorado Holdings LLC grew its stake in Navitas Semiconductor by 31.2% during the 3rd 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 in the last quarter. Masters Capital Management LLC increased its holdings in Navitas Semiconductor by 90.0% during the 2nd 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 period. Finally, Squarepoint Ops LLC acquired a new stake in Navitas Semiconductor in the 2nd quarter valued at about $2,364,000. 46.14% of the stock is owned by institutional investors and hedge funds.
Navitas Semiconductor Company Profile
(
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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.
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