Deutsche Bank Aktiengesellschaft Lowers Navitas Semiconductor (NASDAQ:NVTS) Price Target to $4.00

Navitas Semiconductor (NASDAQ:NVTS) had its price objective lowered by Deutsche Bank Aktiengesellschaft from $6.00 to $4.00 in a report published on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities analysts also recently issued reports on the stock. Craig Hallum cut their price objective on shares of Navitas Semiconductor from $6.50 to $4.25 and set a “buy” rating on the stock in a report on Tuesday. Needham & Company LLC cut their price objective 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. Morgan Stanley cut their price objective on shares of Navitas Semiconductor from $4.60 to $3.50 and set an “equal weight” rating on the stock in a report on Tuesday, August 6th. Rosenblatt Securities reiterated a “buy” rating and issued a $7.50 price target on shares of Navitas Semiconductor in a report on Thursday, October 31st. Finally, Robert W. Baird cut their price target on shares of Navitas Semiconductor from $7.00 to $5.00 and set an “outperform” rating on the stock in a report on Tuesday. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $4.75.

Navitas Semiconductor Stock Performance

NVTS stock opened at $2.20 on Tuesday. The firm has a market cap of $402.82 million, a price-to-earnings ratio of -5.24 and a beta of 2.36. The firm has a 50-day simple moving average of $2.48 and a two-hundred day simple moving average of $3.42. Navitas Semiconductor has a one year low of $2.14 and a one year high of $8.44.

Navitas Semiconductor (NASDAQ:NVTS) last released its quarterly earnings results on Monday, November 4th. The company reported ($0.06) EPS for the quarter, meeting the consensus estimate of ($0.06). The business had revenue of $21.68 million during the quarter, compared to analyst estimates of $21.93 million. Navitas Semiconductor had a negative net margin of 84.61% and a negative return on equity of 23.51%. The company’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.10) earnings per share. As a group, equities analysts predict that Navitas Semiconductor will post -0.53 earnings per share for the current fiscal year.

Insider Transactions at Navitas Semiconductor

In other news, Director David Moxam sold 33,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $3.13, for a total transaction of $103,290.00. Following the sale, the director now owns 867,848 shares of the company’s stock, valued at $2,716,364.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Navitas Semiconductor news, CEO Eugene Sheridan sold 193,662 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $3.03, for a total value of $586,795.86. Following the transaction, the chief executive officer now owns 2,149,631 shares in the company, valued at approximately $6,513,381.93. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director David Moxam sold 33,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $3.13, for a total value of $103,290.00. Following the completion of the transaction, the director now owns 867,848 shares in the company, valued at $2,716,364.24. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 829,852 shares of company stock valued at $2,528,252 in the last 90 days. 31.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. ProShare Advisors LLC lifted its holdings in Navitas Semiconductor by 12.5% in the 1st quarter. ProShare Advisors LLC now owns 20,348 shares of the company’s stock valued at $97,000 after purchasing an additional 2,258 shares in the last quarter. Ensign Peak Advisors Inc increased its stake in shares of Navitas Semiconductor by 5.2% in the 2nd quarter. Ensign Peak Advisors Inc now owns 77,245 shares of the company’s stock worth $304,000 after acquiring an additional 3,800 shares during the last quarter. Commonwealth Equity Services LLC increased its stake 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 acquiring an additional 4,000 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of 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 acquiring an additional 4,533 shares during the last quarter. Finally, Swiss National Bank increased its stake in shares of Navitas Semiconductor by 2.9% in the 1st quarter. Swiss National Bank now owns 246,700 shares of the company’s stock worth $1,177,000 after acquiring an additional 7,000 shares during the last quarter. Hedge funds and other institutional investors own 46.14% of the company’s stock.

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.