Navitas Semiconductor (NASDAQ:NVTS) PT Lowered to $7.00 at Deutsche Bank Aktiengesellschaft

Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) had its price target reduced by Deutsche Bank Aktiengesellschaft from $9.00 to $7.00 in a report released on Friday, Benzinga reports. The brokerage currently has a "buy" rating on the stock. Deutsche Bank Aktiengesellschaft's target price indicates a potential upside of 70.73% from the stock's current price.

A number of other equities analysts have also recently issued reports on NVTS. Rosenblatt Securities lowered their price objective on shares of Navitas Semiconductor from $12.00 to $10.00 and set a "buy" rating for the company in a research note on Friday. Needham & Company LLC cut their price objective on Navitas Semiconductor from $9.00 to $7.00 and set a "buy" rating on the stock in a research report on Friday. Northland Securities began coverage on Navitas Semiconductor in a report on Tuesday, January 16th. They set a "market perform" rating for the company. Finally, Robert W. Baird dropped their price target on Navitas Semiconductor from $12.00 to $7.00 and set an "outperform" rating for the company in a research note on Friday. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Navitas Semiconductor presently has a consensus rating of "Moderate Buy" and a consensus price target of $7.98.

Navitas Semiconductor Trading Down 12.6 %

Shares of NVTS stock traded down $0.59 during trading hours on Friday, hitting $4.10. 5,572,802 shares of the company's stock were exchanged, compared to its average volume of 2,853,432. Navitas Semiconductor has a 12-month low of $3.54 and a 12-month high of $11.16. The company has a market capitalization of $734.93 million, a PE ratio of -4.64 and a beta of 2.52. The business's 50 day simple moving average is $4.58 and its 200-day simple moving average is $5.94.

Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last released its quarterly earnings data on Thursday, February 29th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.02. The firm 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%. Equities analysts anticipate that Navitas Semiconductor will post -0.46 EPS for the current year.

Insider Transactions at Navitas Semiconductor

In other news, CEO Eugene Sheridan sold 38,431 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 value of $184,468.80. Following 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 legal filing with the SEC, which is accessible through the SEC website. In other news, COO Daniel M. Kinzer sold 24,073 shares of Navitas Semiconductor 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 sale, the chief operating officer now directly owns 4,538,353 shares in the company, valued at $21,784,094.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Eugene Sheridan sold 38,431 shares of the stock in a transaction on 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 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 currently owned by company insiders.

Institutional Investors Weigh In On Navitas Semiconductor

Large investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC increased its holdings in Navitas Semiconductor by 241.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,043 shares of the company's stock valued at $57,000 after buying an additional 4,982 shares during the last quarter. Atria Wealth Solutions Inc. bought a new stake in Navitas Semiconductor during the fourth quarter valued at about $81,000. Mackenzie Financial Corp purchased a new stake in Navitas Semiconductor in the third quarter worth about $87,000. Benjamin F. Edwards & Company Inc. increased its position in Navitas Semiconductor by 72.5% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 13,200 shares of the company's stock worth $63,000 after buying an additional 5,550 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Navitas Semiconductor in the first quarter worth about $65,000. 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.

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