Navitas Semiconductor Co. (NASDAQ:NVTS) Receives $4.75 Average Target Price from Brokerages

Shares of Navitas Semiconductor Co. (NASDAQ:NVTS) have been given a consensus rating of “Moderate Buy” by the seven research firms that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $4.75.

A number of analysts have recently issued reports on the company. Robert W. Baird reduced their target price on Navitas Semiconductor from $7.00 to $5.00 and set an “outperform” rating for the company in a report on Tuesday, November 5th. Craig Hallum dropped their target price on Navitas Semiconductor from $6.50 to $4.25 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Rosenblatt Securities reaffirmed a “buy” rating and set a $7.50 price objective on shares of Navitas Semiconductor in a research report on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Navitas Semiconductor from $6.00 to $4.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th.

Insider Transactions at Navitas Semiconductor

In other Navitas Semiconductor news, Director Richard J. Hendrix sold 40,000 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $4.54, for a total transaction of $181,600.00. Following the completion of the transaction, the director now owns 316,709 shares of the company’s stock, valued at $1,437,858.86. The trade was a 11.21 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 31.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Navitas Semiconductor

Several large investors have recently made changes to their positions in the business. DRW Securities LLC acquired a new position in shares of Navitas Semiconductor during the second quarter worth approximately $46,000. Algert Global LLC bought a new stake in Navitas Semiconductor in the 2nd quarter valued at $50,000. Signature Wealth Management Partners LLC bought a new position in shares of Navitas Semiconductor during the 4th quarter worth about $51,000. Benjamin Edwards Inc. acquired a new position in shares of Navitas Semiconductor during the third quarter valued at about $36,000. Finally, Bleakley Financial Group LLC acquired a new stake in Navitas Semiconductor during the third quarter worth about $41,000. Institutional investors and hedge funds own 46.14% of the company’s stock.

Navitas Semiconductor Stock Performance

Shares of NASDAQ:NVTS opened at $3.45 on Tuesday. The company has a market capitalization of $644.46 million, a PE ratio of -8.21 and a beta of 2.23. The stock has a fifty day moving average of $3.31 and a 200-day moving average of $3.03. Navitas Semiconductor has a one year low of $1.75 and a one year high of $7.40.

Navitas Semiconductor (NASDAQ:NVTS) last posted its quarterly earnings data on Monday, November 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.06). The firm had revenue of $21.68 million for the quarter, compared to the consensus estimate of $21.93 million. Navitas Semiconductor had a negative return on equity of 23.64% and a negative net margin of 84.61%. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.10) EPS. As a group, research analysts forecast that Navitas Semiconductor will post -0.51 EPS for the current fiscal year.

About Navitas Semiconductor

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.