Navitas Semiconductor (NASDAQ:NVTS) Given New $4.25 Price Target at Craig Hallum

Navitas Semiconductor (NASDAQ:NVTS) had its price objective cut by Craig Hallum from $6.50 to $4.25 in a research note published on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other equities research analysts have also weighed in on the company. Rosenblatt Securities reissued a “buy” rating and issued a $7.50 price objective on shares of Navitas Semiconductor in a report on Thursday, October 31st. Needham & Company LLC lowered their target price on shares of Navitas Semiconductor from $7.00 to $5.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft dropped their target price on Navitas Semiconductor from $7.00 to $6.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Morgan Stanley reduced their price target on Navitas Semiconductor from $4.60 to $3.50 and set an “equal weight” rating for the company in a research report on Tuesday, August 6th. Finally, Robert W. Baird dropped their price objective on Navitas Semiconductor from $7.00 to $5.00 and set an “outperform” rating on the stock in a report on Tuesday. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $4.75.

Navitas Semiconductor Trading Down 1.8 %

NASDAQ NVTS opened at $2.16 on Tuesday. Navitas Semiconductor has a one year low of $2.13 and a one year high of $8.44. The business’s fifty day moving average is $2.46 and its 200-day moving average is $3.41.

Navitas Semiconductor (NASDAQ:NVTS) last released its earnings results on Monday, November 4th. The company reported ($0.06) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.06). The firm had revenue of $21.68 million during the quarter, compared to the consensus estimate of $21.93 million. Navitas Semiconductor had a negative net margin of 84.61% and a negative return on equity of 23.64%. The company’s revenue was down 1.4% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.10) EPS. Equities analysts predict that Navitas Semiconductor will post -0.53 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Eugene Sheridan sold 453,190 shares of the firm’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $3.03, for a total value of $1,373,165.70. Following the completion of the sale, the chief executive officer now owns 2,608,441 shares of the company’s stock, valued at $7,903,576.23. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Navitas Semiconductor news, COO Daniel M. Kinzer sold 150,000 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $3.10, for a total transaction of $465,000.00. Following the completion of the transaction, the chief operating officer now owns 4,388,353 shares of the company’s stock, valued at approximately $13,603,894.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Eugene Sheridan sold 453,190 shares of the business’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $3.03, for a total transaction of $1,373,165.70. Following the sale, the chief executive officer now owns 2,608,441 shares in the company, valued at approximately $7,903,576.23. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 829,852 shares of company stock worth $2,528,252. 31.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of NVTS. ProShare Advisors LLC increased its position in Navitas Semiconductor by 12.5% during the 1st quarter. ProShare Advisors LLC now owns 20,348 shares of the company’s stock valued at $97,000 after buying an additional 2,258 shares in the last quarter. Ensign Peak Advisors Inc increased its holdings in shares of Navitas Semiconductor by 5.2% during the second quarter. Ensign Peak Advisors Inc now owns 77,245 shares of the company’s stock valued at $304,000 after acquiring an additional 3,800 shares in the last quarter. Commonwealth Equity Services LLC raised its position in shares of Navitas Semiconductor by 5.4% in the 2nd quarter. Commonwealth Equity Services LLC now owns 77,940 shares of the company’s stock worth $306,000 after purchasing an additional 4,000 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Navitas Semiconductor by 16.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,646 shares of the company’s stock worth $151,000 after purchasing an additional 4,533 shares in the last quarter. Finally, Swiss National Bank grew its position in Navitas Semiconductor by 2.9% during the 1st quarter. Swiss National Bank now owns 246,700 shares of the company’s stock valued at $1,177,000 after purchasing an additional 7,000 shares during the last quarter. 46.14% of the stock is owned by hedge funds and other institutional investors.

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.