Navitas Semiconductor (NASDAQ:NVTS) Reaches New 52-Week Low at $3.80

Navitas Semiconductor Co. (NASDAQ:NVTS - Get Free Report) reached a new 52-week low on Monday . The stock traded as low as $3.80 and last traded at $4.11, with a volume of 1815887 shares trading hands. The stock had previously closed at $4.32.

Wall Street Analyst Weigh In

NVTS has been the topic of several recent research reports. Northland Securities initiated coverage on Navitas Semiconductor in a report on Tuesday, January 16th. They set a "market perform" rating on the stock. Needham & Company LLC cut their target price on Navitas Semiconductor from $10.00 to $9.00 and set a "buy" rating on the stock in a report on Friday, March 1st. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $12.00 price objective on shares of Navitas Semiconductor in a research note on Friday, March 1st. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $9.82.

Navitas Semiconductor Trading Down 3.0 %

The firm has a market capitalization of $751.06 million, a price-to-earnings ratio of -4.76 and a beta of 2.54. The firm has a fifty day moving average price of $5.27 and a 200 day moving average price of $6.19.

Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last announced its earnings results on Thursday, February 29th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.02. The business had revenue of $26.06 million for the quarter, compared to the consensus estimate of $25.68 million. Navitas Semiconductor had a negative return on equity of 18.81% and a negative net margin of 183.04%. As a group, equities analysts predict that Navitas Semiconductor Co. will post -0.46 EPS for the current fiscal year.

Insider Transactions at Navitas Semiconductor

In related news, COO Daniel M. Kinzer sold 24,073 shares of the business's stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $4.80, for a total value of $115,550.40. Following the completion of the transaction, the chief operating officer now owns 4,538,353 shares in the company, valued at approximately $21,784,094.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Ranbir Singh sold 10,925 shares of the business's stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $4.80, for a total value of $52,440.00. Following the completion of the transaction, the executive vice president now owns 29,357 shares in the company, valued at approximately $140,913.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Daniel M. Kinzer sold 24,073 shares of the business's stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $4.80, for a total transaction of $115,550.40. Following the completion of the transaction, the chief operating officer now owns 4,538,353 shares of the company's stock, valued at approximately $21,784,094.40. The disclosure for this sale can be found here. Insiders have sold 73,429 shares of company stock valued at $352,459 in the last three months. 36.80% of the stock is owned by corporate insiders.

Institutional Trading of Navitas Semiconductor

Several institutional investors and hedge funds have recently made changes to their positions in the business. The Manufacturers Life Insurance Company raised its stake in Navitas Semiconductor by 3.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 61,000 shares of the company's stock worth $492,000 after buying an additional 2,050 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Navitas Semiconductor by 8.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 27,113 shares of the company's stock worth $219,000 after buying an additional 2,202 shares during the period. State Board of Administration of Florida Retirement System raised its stake in Navitas Semiconductor by 7.8% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 31,230 shares of the company's stock worth $217,000 after buying an additional 2,250 shares during the period. Laidlaw Wealth Management LLC raised its stake in Navitas Semiconductor by 16.7% during the 4th quarter. Laidlaw Wealth Management LLC now owns 18,316 shares of the company's stock worth $148,000 after buying an additional 2,618 shares during the period. Finally, Victory Capital Management Inc. raised its stake in Navitas Semiconductor by 23.9% during the 4th quarter. Victory Capital Management Inc. now owns 15,842 shares of the company's stock worth $128,000 after buying an additional 3,052 shares during the period. 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.