Navitas Semiconductor Co. (NASDAQ:NVTS) Receives Consensus Rating of “Moderate Buy” from Brokerages

Navitas Semiconductor Co. (NASDAQ:NVTS) has earned a consensus recommendation of “Moderate Buy” from the eight analysts that are presently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $6.00.

A number of equities research analysts have recently weighed in on the company. Morgan Stanley cut their price objective on Navitas Semiconductor from $4.60 to $3.50 and set an “equal weight” rating on the stock in a research report on Tuesday, August 6th. Craig Hallum reduced their target price on Navitas Semiconductor from $7.50 to $6.50 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft reduced their target price on Navitas Semiconductor from $7.00 to $6.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Needham & Company LLC reduced their target price on Navitas Semiconductor from $7.00 to $5.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $10.00 target price on shares of Navitas Semiconductor in a research note on Friday, August 2nd.

Navitas Semiconductor Stock Performance

NASDAQ:NVTS opened at $2.23 on Wednesday. Navitas Semiconductor has a fifty-two week low of $2.22 and a fifty-two week high of $8.44. The firm has a market cap of $408.32 million, a PE ratio of -4.37 and a beta of 2.40. The business has a 50 day moving average price of $3.16 and a 200-day moving average price of $3.90.

Navitas Semiconductor (NASDAQ:NVTS) last released its quarterly earnings data on Monday, August 5th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). The firm had revenue of $20.50 million during the quarter, compared to analysts’ expectations of $20.01 million. Navitas Semiconductor had a negative net margin of 55.70% and a negative return on equity of 22.29%. Navitas Semiconductor’s revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.12) EPS. Research analysts predict that Navitas Semiconductor will post -0.53 EPS for the current year.

Insider Buying and Selling

In other news, COO Daniel M. Kinzer sold 150,000 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $3.10, for a total value of $465,000.00. Following the sale, the chief operating officer now directly owns 4,388,353 shares of the company’s stock, valued at $13,603,894.30. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, COO Daniel M. Kinzer sold 150,000 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $3.10, for a total transaction of $465,000.00. Following the sale, the chief operating officer now owns 4,388,353 shares in the company, valued at $13,603,894.30. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Eugene Sheridan sold 453,190 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $3.03, for a total transaction of $1,373,165.70. Following the completion of the transaction, the chief executive officer now owns 2,608,441 shares of the company’s stock, valued at $7,903,576.23. The disclosure for this sale can be found here. Insiders have sold a total of 829,852 shares of company stock valued at $2,528,252 over the last ninety days. Company insiders own 31.80% of the company’s stock.

Institutional Trading of Navitas Semiconductor

Institutional investors have recently made changes to their positions in the stock. DRW Securities LLC bought a new stake in shares of Navitas Semiconductor in the second quarter worth $46,000. Wedbush Securities Inc. bought a new stake in shares of Navitas Semiconductor during the 2nd quarter valued at about $49,000. Algert Global LLC purchased a new stake in shares of Navitas Semiconductor during the 2nd quarter valued at about $50,000. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Navitas Semiconductor by 72.5% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 13,200 shares of the company’s stock worth $63,000 after purchasing an additional 5,550 shares during the period. Finally, SG Americas Securities LLC purchased a new position in shares of Navitas Semiconductor in the first quarter worth approximately $65,000. 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.