Navitas Semiconductor Co. (NASDAQ:NVTS) Given Average Rating of “Moderate Buy” by Analysts

Navitas Semiconductor Co. (NASDAQ:NVTS) has received a consensus recommendation of “Moderate Buy” from the five analysts that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $9.89.

Several analysts recently issued reports on the stock. Rosenblatt Securities restated a “buy” rating and issued a $12.00 price objective on shares of Navitas Semiconductor in a report on Thursday, September 7th. Robert W. Baird boosted their price objective on shares of Navitas Semiconductor from $10.00 to $12.00 and gave the company an “outperform” rating in a report on Wednesday, August 16th. Morgan Stanley began coverage on shares of Navitas Semiconductor in a report on Monday, August 28th. They issued an “equal weight” rating and a $9.20 price objective on the stock. Needham & Company LLC lifted their target price on Navitas Semiconductor from $8.00 to $11.00 and gave the company a “buy” rating in a research report on Tuesday, August 15th. Finally, Bank of America dropped their target price on Navitas Semiconductor from $11.00 to $10.00 and set a “neutral” rating for the company in a research report on Tuesday, August 15th.

Insider Transactions at Navitas Semiconductor

In other news, CEO Eugene Sheridan sold 23,166 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $10.04, for a total transaction of $232,586.64. Following the completion of the transaction, the chief executive officer now directly owns 879,386 shares of the company’s stock, valued at $8,829,035.44. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Eugene Sheridan sold 23,166 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $10.04, for a total transaction of $232,586.64. Following the completion of the transaction, the chief executive officer now directly owns 879,386 shares of the company’s stock, valued at $8,829,035.44. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Richard J. Hendrix sold 20,000 shares of the business’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $8.85, for a total value of $177,000.00. Following the transaction, the director now directly owns 163,282 shares of the company’s stock, valued at $1,445,045.70. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 934,413 shares of company stock valued at $7,785,159. 36.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Navitas Semiconductor

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Victory Capital Management Inc. lifted its stake in Navitas Semiconductor by 11.2% in the second quarter. Victory Capital Management Inc. now owns 11,278 shares of the company’s stock valued at $119,000 after buying an additional 1,135 shares during the last quarter. Harvest Fund Management Co. Ltd lifted its stake in Navitas Semiconductor by 100.0% in the second quarter. Harvest Fund Management Co. Ltd now owns 5,000 shares of the company’s stock valued at $53,000 after buying an additional 2,500 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Navitas Semiconductor in the second quarter valued at approximately $30,000. Migdal Insurance & Financial Holdings Ltd. lifted its stake in Navitas Semiconductor by 52.3% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 11,210 shares of the company’s stock valued at $76,000 after buying an additional 3,850 shares during the last quarter. Finally, Aspire Private Capital LLC raised its stake in shares of Navitas Semiconductor by 55.6% during the fourth quarter. Aspire Private Capital LLC now owns 14,000 shares of the company’s stock worth $49,140,000,000 after purchasing an additional 5,000 shares during the last quarter. 37.45% of the stock is owned by institutional investors and hedge funds.

Navitas Semiconductor Stock Down 1.0 %

NASDAQ NVTS opened at $5.15 on Friday. Navitas Semiconductor has a 52 week low of $3.11 and a 52 week high of $11.16. The business’s fifty day simple moving average is $7.13 and its 200-day simple moving average is $8.06. The firm has a market cap of $894.66 million, a PE ratio of -5.05 and a beta of 2.48.

Navitas Semiconductor (NASDAQ:NVTS) last issued its quarterly earnings data on Monday, August 14th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.06. The firm had revenue of $18.06 million for the quarter, compared to analyst estimates of $16.52 million. Navitas Semiconductor had a negative net margin of 294.91% and a negative return on equity of 21.11%. Research analysts expect that Navitas Semiconductor will post -0.46 EPS for the current year.

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.