Brokerages Set Navitas Semiconductor Co. (NASDAQ:NVTS) PT at $7.41

Navitas Semiconductor Co. (NASDAQ:NVTS - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the eight research firms that are presently covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $7.41.

Several brokerages have recently issued reports on NVTS. Robert W. Baird reduced their target price on Navitas Semiconductor from $12.00 to $7.00 and set an "outperform" rating on the stock in a report on Friday, May 10th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Navitas Semiconductor from $9.00 to $7.00 and set a "buy" rating on the stock in a research note on Friday, May 10th. Needham & Company LLC dropped their price objective on shares of Navitas Semiconductor from $9.00 to $7.00 and set a "buy" rating for the company in a research note on Friday, May 10th. Rosenblatt Securities decreased their target price on shares of Navitas Semiconductor from $12.00 to $10.00 and set a "buy" rating on the stock in a research report on Friday, May 10th. Finally, Jefferies Financial Group reiterated a "hold" rating and issued a $4.00 price target (down previously from $10.00) on shares of Navitas Semiconductor in a research report on Monday.

Navitas Semiconductor Stock Down 1.5 %

NVTS traded down $0.06 during trading on Thursday, hitting $3.91. The company's stock had a trading volume of 1,838,567 shares, compared to its average volume of 2,856,399. The business's 50 day simple moving average is $4.46 and its 200-day simple moving average is $5.91. The firm has a market cap of $700.87 million, a PE ratio of -7.78 and a beta of 2.52. Navitas Semiconductor has a one year low of $3.54 and a one year high of $11.16.

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 analysts' consensus estimates of ($0.13) by $0.02. Navitas Semiconductor had a negative return on equity of 21.32% and a negative net margin of 97.75%. The company had revenue of $26.06 million for the quarter, compared to analysts' expectations of $25.68 million. Equities research analysts expect that Navitas Semiconductor will post -0.46 EPS for the current fiscal year.

Insider Transactions at Navitas Semiconductor

In other news, CEO Eugene Sheridan sold 38,431 shares of the company's stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $4.80, for a total value of $184,468.80. Following the transaction, the chief executive officer now directly owns 3,061,631 shares in the company, valued at $14,695,828.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Navitas Semiconductor news, CEO Eugene Sheridan sold 38,431 shares of Navitas Semiconductor stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $4.80, for a total transaction of $184,468.80. Following the completion of the sale, the chief executive officer now directly owns 3,061,631 shares of the company's stock, valued at approximately $14,695,828.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Ranbir Singh sold 10,925 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $4.80, for a total value of $52,440.00. Following the transaction, the executive vice president now directly owns 29,357 shares in the company, valued at approximately $140,913.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 73,429 shares of company stock worth $352,459. 36.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Navitas Semiconductor

Hedge funds and other institutional investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. increased its holdings in shares of Navitas Semiconductor by 37.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 905,524 shares of the company's stock valued at $6,293,000 after acquiring an additional 248,143 shares during the period. Federated Hermes Inc. grew its stake in Navitas Semiconductor by 9,612.6% in the third quarter. Federated Hermes Inc. now owns 33,800 shares of the company's stock valued at $235,000 after purchasing an additional 33,452 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Navitas Semiconductor by 14.2% in the 3rd quarter. Vanguard Group Inc. now owns 8,572,707 shares of the company's stock valued at $59,580,000 after buying an additional 1,064,010 shares in the last quarter. Swiss National Bank grew its position in shares of Navitas Semiconductor by 16.6% in the 3rd quarter. Swiss National Bank now owns 265,400 shares of the company's stock worth $1,845,000 after buying an additional 37,700 shares during the last quarter. Finally, Graham Capital Management L.P. purchased a new position in shares of Navitas Semiconductor in the 3rd quarter worth approximately $410,000. 46.14% of the stock is currently owned by institutional investors.

Navitas Semiconductor Company Profile

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.