Navitas Semiconductor Co. (NASDAQ:NVTS) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Navitas Semiconductor Co. (NASDAQ:NVTS) have received an average recommendation of “Moderate Buy” from the six ratings firms that are covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $9.82.

A number of equities analysts have recently commented on NVTS shares. Needham & Company LLC lowered their price objective on Navitas Semiconductor from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Friday, March 1st. Northland Securities initiated coverage on Navitas Semiconductor in a research note on Tuesday, January 16th. They set a “market perform” rating for the company. Finally, Rosenblatt Securities restated a “buy” rating and set a $12.00 target price on shares of Navitas Semiconductor in a research note on Friday, March 1st.

Navitas Semiconductor Stock Performance

Shares of Navitas Semiconductor stock opened at $3.64 on Friday. Navitas Semiconductor has a one year low of $3.63 and a one year high of $11.16. The company has a market cap of $652.47 million, a PE ratio of -4.14 and a beta of 2.54. The business has a 50-day simple moving average of $5.09 and a 200-day simple moving average of $6.11.

Navitas Semiconductor (NASDAQ:NVTS) last announced its quarterly earnings data on Thursday, February 29th. The company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.02. Navitas Semiconductor had a negative return on equity of 18.81% and a negative net margin of 183.04%. The business had revenue of $26.06 million during the quarter, compared to the consensus estimate of $25.68 million. On average, sell-side analysts predict that Navitas Semiconductor will post -0.46 earnings per share for the current fiscal year.

Insider Buying and Selling at Navitas Semiconductor

In other Navitas Semiconductor news, EVP Ranbir Singh sold 10,925 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $4.80, for a total value of $52,440.00. Following the completion of the sale, the executive vice president now owns 29,357 shares in the company, valued at $140,913.60. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Navitas Semiconductor news, EVP Ranbir Singh sold 10,925 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $4.80, for a total value of $52,440.00. Following the completion of the sale, the executive vice president now owns 29,357 shares in the company, valued at $140,913.60. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, COO Daniel M. Kinzer sold 24,073 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $4.80, for a total value of $115,550.40. Following the completion of the sale, the chief operating officer now owns 4,538,353 shares of the company’s stock, valued at approximately $21,784,094.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 73,429 shares of company stock worth $352,459. 36.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Navitas Semiconductor

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Navitas Semiconductor by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 8,777,091 shares of the company’s stock worth $70,831,000 after purchasing an additional 204,384 shares during the last quarter. BlackRock Inc. grew its holdings in Navitas Semiconductor by 374.4% during the second quarter. BlackRock Inc. now owns 6,993,014 shares of the company’s stock worth $73,706,000 after acquiring an additional 5,518,894 shares during the period. State Street Corp grew its holdings in Navitas Semiconductor by 111.1% during the second quarter. State Street Corp now owns 5,337,289 shares of the company’s stock worth $56,255,000 after acquiring an additional 2,808,415 shares during the period. Kodai Capital Management LP acquired a new stake in Navitas Semiconductor in the fourth quarter valued at $31,869,000. Finally, Intrinsic Edge Capital Management LLC grew its holdings in Navitas Semiconductor by 91.6% in the fourth quarter. Intrinsic Edge Capital Management LLC now owns 2,717,692 shares of the company’s stock valued at $21,932,000 after purchasing an additional 1,299,524 shares during the last quarter. Hedge funds and other institutional investors own 46.14% of the company’s stock.

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.