Deutsche Bank Aktiengesellschaft Lowers Navitas Semiconductor (NASDAQ:NVTS) Price Target to $6.00

Navitas Semiconductor (NASDAQ:NVTS) had its price objective lowered by equities research analysts at Deutsche Bank Aktiengesellschaft from $7.00 to $6.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s price objective suggests a potential upside of 88.09% from the company’s previous close.

Several other research analysts also recently commented on the stock. Craig Hallum dropped their target price on shares of Navitas Semiconductor from $7.50 to $6.50 and set a “buy” rating on the stock in a report on Tuesday. Robert W. Baird lowered their target price on Navitas Semiconductor from $12.00 to $7.00 and set an “outperform” rating on the stock in a report on Friday, May 10th. Rosenblatt Securities reiterated a “buy” rating and set a $10.00 price target on shares of Navitas Semiconductor in a report on Friday, August 2nd. Jefferies Financial Group restated a “hold” rating and issued a $4.00 price objective (down previously from $10.00) on shares of Navitas Semiconductor in a research note on Monday, May 13th. Finally, Needham & Company LLC reduced their price target on shares of Navitas Semiconductor from $7.00 to $5.00 and set a “buy” rating for the company in a report on Tuesday. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $6.50.

Navitas Semiconductor Price Performance

Navitas Semiconductor stock opened at $3.19 on Tuesday. Navitas Semiconductor has a one year low of $2.94 and a one year high of $10.10. The company’s fifty day moving average price is $4.12 and its two-hundred day moving average price is $4.66. The company has a market capitalization of $584.09 million, a price-to-earnings ratio of -6.25 and a beta of 2.42.

Navitas Semiconductor (NASDAQ:NVTS) last issued its quarterly earnings data on Monday, August 5th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). The company had revenue of $20.50 million during the quarter, compared to the consensus estimate of $20.01 million. Navitas Semiconductor had a negative net margin of 97.75% and a negative return on equity of 21.22%. The firm’s revenue was up 13.3% on a year-over-year basis. During the same period in the previous year, the business posted ($0.12) earnings per share. As a group, sell-side analysts anticipate that Navitas Semiconductor will post -0.53 earnings per share for the current year.

Insider Buying and Selling

In other Navitas Semiconductor news, Director Dipender Saluja sold 87,060 shares of the stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $4.56, for a total transaction of $396,993.60. Following the completion of the transaction, the director now directly owns 6,118,539 shares in the company, valued at $27,900,537.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 31.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Wedbush Securities Inc. bought a new position in Navitas Semiconductor in the 2nd quarter valued at $49,000. Tower Research Capital LLC TRC lifted its position in Navitas Semiconductor by 241.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,043 shares of the company’s stock worth $57,000 after buying an additional 4,982 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its position in Navitas Semiconductor by 72.5% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 13,200 shares of the company’s stock worth $63,000 after buying an additional 5,550 shares in the last quarter. SG Americas Securities LLC bought a new stake in Navitas Semiconductor during the 1st quarter worth about $65,000. Finally, Atria Wealth Solutions Inc. acquired a new stake in Navitas Semiconductor in the 4th quarter valued at about $81,000. 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.