Navitas Semiconductor (NASDAQ:NVTS) Rating Reiterated by Jefferies Financial Group

Navitas Semiconductor (NASDAQ:NVTSGet Free Report)‘s stock had its “hold” rating reiterated by analysts at Jefferies Financial Group in a research report issued to clients and investors on Monday, Marketbeat reports. They presently have a $4.00 price target on the stock, down from their previous price target of $10.00.

Other analysts also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Navitas Semiconductor from $9.00 to $7.00 and set a “buy” rating on the stock in a report on Friday, May 10th. Needham & Company LLC lowered their price target on shares of Navitas Semiconductor from $9.00 to $7.00 and set a “buy” rating on the stock in a report on Friday, May 10th. Northland Securities assumed coverage on shares of Navitas Semiconductor in a report on Tuesday, January 16th. They set a “market perform” rating on the stock. Robert W. Baird lowered their price target on shares of Navitas Semiconductor from $12.00 to $7.00 and set an “outperform” rating on the stock in a report on Friday, May 10th. Finally, Rosenblatt Securities lowered their price target on shares of Navitas Semiconductor from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Friday, May 10th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Navitas Semiconductor presently has an average rating of “Moderate Buy” and an average price target of $7.41.

Check Out Our Latest Analysis on Navitas Semiconductor

Navitas Semiconductor Price Performance

NVTS stock opened at $4.00 on Monday. The firm’s fifty day simple moving average is $4.49 and its 200-day simple moving average is $5.92. The company has a market capitalization of $717 million, a P/E ratio of -7.84 and a beta of 2.52. Navitas Semiconductor has a 12 month low of $3.54 and a 12 month high of $11.16.

Navitas Semiconductor (NASDAQ:NVTSGet Free Report) last released its quarterly earnings data on Thursday, February 29th. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.02. The business had revenue of $26.06 million for the quarter, compared to the consensus estimate of $25.68 million. Navitas Semiconductor had a negative net margin of 97.75% and a negative return on equity of 21.32%. As a group, sell-side analysts forecast that Navitas Semiconductor will post -0.46 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Navitas Semiconductor

Hedge funds have recently modified their holdings of the business. State Board of Administration of Florida Retirement System increased its position in Navitas Semiconductor by 7.8% during the third quarter. State Board of Administration of Florida Retirement System now owns 31,230 shares of the company’s stock worth $217,000 after purchasing an additional 2,250 shares during the last quarter. ProShare Advisors LLC increased its position in Navitas Semiconductor by 12.5% during the first quarter. ProShare Advisors LLC now owns 20,348 shares of the company’s stock worth $97,000 after purchasing an additional 2,258 shares during the last quarter. Laidlaw Wealth Management LLC increased its position in Navitas Semiconductor by 16.7% during the fourth quarter. Laidlaw Wealth Management LLC now owns 18,316 shares of the company’s stock worth $148,000 after purchasing an additional 2,618 shares during the last quarter. Victory Capital Management Inc. increased its position in Navitas Semiconductor by 23.9% during the fourth quarter. Victory Capital Management Inc. now owns 15,842 shares of the company’s stock worth $128,000 after purchasing an additional 3,052 shares during the last quarter. Finally, Quantbot Technologies LP increased its position in Navitas Semiconductor by 3.5% during the third quarter. Quantbot Technologies LP now owns 141,264 shares of the company’s stock worth $982,000 after purchasing an additional 4,735 shares during the last quarter. 46.14% of the stock is currently owned by institutional investors and hedge funds.

Navitas Semiconductor Company Profile

(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.

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Analyst Recommendations for Navitas Semiconductor (NASDAQ:NVTS)

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