Navitas Semiconductor (NASDAQ:NVTS) Downgraded by Deutsche Bank Aktiengesellschaft to “Hold”

Deutsche Bank Aktiengesellschaft downgraded shares of Navitas Semiconductor (NASDAQ:NVTS) from a buy rating to a hold rating in a research report report published on Tuesday morning, Marketbeat reports. Deutsche Bank Aktiengesellschaft currently has $3.50 target price on the stock.

NVTS has been the subject of a number of other research reports. Robert W. Baird lowered their target price on Navitas Semiconductor from $5.00 to $4.00 and set an “outperform” rating for the company in a report on Wednesday, March 5th. Rosenblatt Securities boosted their price target on Navitas Semiconductor from $4.00 to $6.00 and gave the stock a “buy” rating in a report on Thursday, May 22nd. Morgan Stanley cut Navitas Semiconductor from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $2.10 to $1.50 in a report on Monday, April 7th. Finally, Needham & Company LLC reduced their price target on Navitas Semiconductor from $4.00 to $3.00 and set a “buy” rating on the stock in a report on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $3.71.

Navitas Semiconductor Stock Performance

Shares of NVTS stock opened at $6.86 on Tuesday. The stock’s fifty day moving average price is $3.60 and its two-hundred day moving average price is $3.19. The company has a market cap of $1.32 billion, a PE ratio of -13.19 and a beta of 2.96. Navitas Semiconductor has a fifty-two week low of $1.52 and a fifty-two week high of $9.17.

Navitas Semiconductor (NASDAQ:NVTS) last issued its earnings results on Monday, May 5th. The company reported ($0.06) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.06). The firm had revenue of $14.02 million for the quarter, compared to the consensus estimate of $14.01 million. Navitas Semiconductor had a negative return on equity of 22.62% and a negative net margin of 131.83%. The company’s revenue was down 39.7% compared to the same quarter last year. During the same quarter last year, the business posted ($0.06) EPS. On average, equities analysts predict that Navitas Semiconductor will post -0.51 EPS for the current fiscal year.

Insider Activity at Navitas Semiconductor

In related news, Director David Moxam sold 75,000 shares of the company’s stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $2.08, for a total value of $156,000.00. Following the sale, the director now directly owns 792,848 shares in the company, valued at $1,649,123.84. This represents a 8.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Brian Long sold 47,189 shares of the company’s stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $2.36, for a total value of $111,366.04. Following the completion of the sale, the director now owns 31,460 shares in the company, valued at $74,245.60. The trade was a 60.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,131,789 shares of company stock worth $99,872,523 over the last ninety days. Insiders own 29.90% of the company’s stock.

Hedge Funds Weigh In On Navitas Semiconductor

Several institutional investors have recently added to or reduced their stakes in NVTS. Compass Capital Corp MA ADV acquired a new position in Navitas Semiconductor in the fourth quarter valued at approximately $553,000. Edge Capital Group LLC acquired a new position in Navitas Semiconductor in the fourth quarter valued at approximately $987,000. Bank of New York Mellon Corp lifted its stake in Navitas Semiconductor by 27.6% in the fourth quarter. Bank of New York Mellon Corp now owns 498,713 shares of the company’s stock valued at $1,780,000 after buying an additional 107,828 shares during the period. SBI Securities Co. Ltd. acquired a new position in Navitas Semiconductor in the fourth quarter valued at approximately $66,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in Navitas Semiconductor by 7.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,046,750 shares of the company’s stock valued at $3,737,000 after buying an additional 76,870 shares during the period. 46.14% of the stock is 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.