Navitas Semiconductor (NASDAQ:NVTS) Hits New 52-Week Low at $3.54

Navitas Semiconductor Co. (NASDAQ:NVTS)’s share price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $3.54 and last traded at $3.55, with a volume of 668519 shares changing hands. The stock had previously closed at $3.64.

Analyst Ratings Changes

Several equities research analysts have issued reports on NVTS shares. Rosenblatt Securities reissued a “buy” rating and issued a $12.00 price target on shares of Navitas Semiconductor in a report on Friday, March 1st. Needham & Company LLC lowered their price target on shares of Navitas Semiconductor from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Friday, March 1st. Finally, Northland Securities assumed coverage on shares of Navitas Semiconductor in a report on Tuesday, January 16th. They issued a “market perform” rating on the stock. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $9.82.

Navitas Semiconductor Trading Up 3.3 %

The company’s fifty day moving average price is $4.98 and its two-hundred day moving average price is $6.06. The firm has a market cap of $679.36 million, a P/E ratio of -4.31 and a beta of 2.54.

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

Insider Buying and Selling

In related news, COO Daniel M. Kinzer sold 24,073 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $4.80, for a total transaction of $115,550.40. Following the transaction, the chief operating officer now owns 4,538,353 shares in the company, valued at approximately $21,784,094.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, COO Daniel M. Kinzer sold 24,073 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $4.80, for a total transaction of $115,550.40. Following the transaction, the chief operating officer now owns 4,538,353 shares in the company, valued at approximately $21,784,094.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Eugene Sheridan sold 38,431 shares of the company’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $4.80, for a total transaction of $184,468.80. Following the transaction, the chief executive officer now owns 3,061,631 shares in the company, valued at approximately $14,695,828.80. The disclosure for this sale can be found here. Insiders have sold a total of 73,429 shares of company stock worth $352,459 in the last 90 days. Corporate insiders own 36.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. 180 Wealth Advisors LLC lifted its position in Navitas Semiconductor by 91.2% during the 1st quarter. 180 Wealth Advisors LLC now owns 32,158 shares of the company’s stock valued at $153,000 after purchasing an additional 15,335 shares during the period. Penn Capital Management Company LLC lifted its position in Navitas Semiconductor by 9.0% during the 4th quarter. Penn Capital Management Company LLC now owns 1,360,204 shares of the company’s stock valued at $10,992,000 after purchasing an additional 112,551 shares during the period. G2 Investment Partners Management LLC acquired a new position in Navitas Semiconductor during the 4th quarter valued at about $574,000. Masters Capital Management LLC lifted its position in Navitas Semiconductor by 55.3% during the 4th quarter. Masters Capital Management LLC now owns 1,700,000 shares of the company’s stock valued at $13,719,000 after purchasing an additional 605,000 shares during the period. Finally, Intrinsic Edge Capital Management LLC lifted its position in Navitas Semiconductor by 91.6% during the 4th 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 period. 46.14% of the stock is currently owned by institutional investors and hedge funds.

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.