Navitas Semiconductor (NASDAQ:NVTS) Price Target Lowered to $4.25 at Craig Hallum

Navitas Semiconductor (NASDAQ:NVTS) had its target price 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.

NVTS has been the topic of a number of other research reports. Rosenblatt Securities restated a “buy” rating and issued a $7.50 price objective on shares of Navitas Semiconductor in a report on Thursday, October 31st. Robert W. Baird cut their price objective on shares of Navitas Semiconductor from $7.00 to $5.00 and set an “outperform” rating on the stock in a report on Tuesday. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Navitas Semiconductor from $7.00 to $6.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Needham & Company LLC cut their price target 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. Finally, Morgan Stanley cut their price target 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. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $4.75.

Navitas Semiconductor Trading Down 9.6 %

NVTS stock opened at $2.36 on Tuesday. The firm’s 50-day moving average price is $2.51 and its two-hundred day moving average price is $3.44. Navitas Semiconductor has a 12-month low of $2.14 and a 12-month high of $8.44. The stock has a market capitalization of $432.12 million, a price-to-earnings ratio of -8.43 and a beta of 2.36.

Navitas Semiconductor (NASDAQ:NVTS) last released its quarterly earnings data on Monday, November 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.06). Navitas Semiconductor had a negative net margin of 55.70% and a negative return on equity of 22.29%. The firm had revenue of $21.68 million for the quarter, compared to analysts’ expectations of $21.93 million. During the same quarter in the previous year, the company earned ($0.10) earnings per share. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. Equities analysts predict that Navitas Semiconductor will post -0.53 EPS for the current year.

Insiders Place Their Bets

In other Navitas Semiconductor news, CEO Eugene Sheridan sold 193,662 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $3.03, for a total value of $586,795.86. Following the transaction, the chief executive officer now directly owns 2,149,631 shares in the company, valued at approximately $6,513,381.93. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Navitas Semiconductor 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 value of $465,000.00. Following the transaction, the chief operating officer now directly owns 4,388,353 shares in the company, valued at approximately $13,603,894.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Eugene Sheridan sold 193,662 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $3.03, for a total transaction of $586,795.86. Following the completion of the transaction, the chief executive officer now owns 2,149,631 shares in the company, valued at $6,513,381.93. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 829,852 shares of company stock worth $2,528,252. Company insiders own 31.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. DRW Securities LLC bought a new stake in shares of Navitas Semiconductor during the 2nd quarter valued at $46,000. Wedbush Securities Inc. bought a new stake in shares of Navitas Semiconductor during the 2nd quarter valued at $49,000. Algert Global LLC bought a new stake in shares of Navitas Semiconductor during the 2nd quarter valued at $50,000. SG Americas Securities LLC bought a new stake in shares of Navitas Semiconductor during the 1st quarter valued at $65,000. Finally, Bleakley Financial Group LLC bought a new stake in shares of Navitas Semiconductor during the 3rd quarter valued at $41,000. 46.14% of the stock is currently owned by institutional investors.

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.