Navitas Semiconductor's (NVTS) Hold Rating Reaffirmed at Jefferies Financial Group

Jefferies Financial Group reiterated their hold rating on shares of Navitas Semiconductor (NASDAQ:NVTS - Free Report) in a report published on Monday, Marketbeat reports. They currently have a $4.00 price objective on the stock, down from their previous price objective of $10.00.

Other equities analysts also recently issued research reports about the company. Needham & Company LLC cut their price objective on Navitas Semiconductor from $9.00 to $7.00 and set a buy rating for the company in a research report on Friday. Northland Securities started coverage on Navitas Semiconductor in a research report on Tuesday, January 16th. They set a market perform rating for the company. Deutsche Bank Aktiengesellschaft dropped their target price on Navitas Semiconductor from $9.00 to $7.00 and set a buy rating for the company in a research report on Friday. Rosenblatt Securities dropped their target price on Navitas Semiconductor from $12.00 to $10.00 and set a buy rating for the company in a research report on Friday. Finally, Robert W. Baird dropped their target price on Navitas Semiconductor from $12.00 to $7.00 and set an outperform rating for the company in a research report on Friday. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $7.41.

Navitas Semiconductor Stock Down 3.2 %

NVTS traded down $0.13 during trading on Monday, hitting $3.97. The company's stock had a trading volume of 3,772,599 shares, compared to its average volume of 2,863,461. The firm's 50 day moving average price is $4.55 and its two-hundred day moving average price is $5.94. Navitas Semiconductor has a 12 month low of $3.54 and a 12 month high of $11.16. The stock has a market capitalization of $711.62 million, a price-to-earnings ratio of -7.90 and a beta of 2.52.

Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last issued its quarterly earnings data on Thursday, February 29th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $26.06 million during the quarter, compared to the consensus estimate of $25.68 million. On average, sell-side analysts forecast that Navitas Semiconductor will post -0.46 earnings per share for the current year.

Insider Activity at Navitas Semiconductor

In related news, CEO Eugene Sheridan sold 38,431 shares of the company's stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $4.80, for a total value of $184,468.80. Following the completion of the sale, the chief executive officer now owns 3,061,631 shares in the company, valued at $14,695,828.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Navitas Semiconductor news, COO Daniel M. Kinzer sold 24,073 shares of the business's stock in a transaction dated Thursday, March 14th. The stock was 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 directly owns 4,538,353 shares of the company's stock, valued at $21,784,094.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Eugene Sheridan sold 38,431 shares of the business'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 completion of the transaction, the chief executive officer now directly owns 3,061,631 shares of the company's stock, valued at $14,695,828.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 73,429 shares of company stock worth $352,459. 36.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Kodai Capital Management LP acquired a new position in shares of Navitas Semiconductor during the fourth quarter worth about $31,869,000. Intrinsic Edge Capital Management LLC boosted its position in shares of Navitas Semiconductor by 91.6% during the fourth quarter. Intrinsic Edge Capital Management LLC now owns 2,717,692 shares of the company's stock worth $21,932,000 after buying an additional 1,299,524 shares during the period. Vanguard Group Inc. boosted its position in shares of Navitas Semiconductor by 14.2% during the third quarter. Vanguard Group Inc. now owns 8,572,707 shares of the company's stock worth $59,580,000 after buying an additional 1,064,010 shares during the period. Masters Capital Management LLC boosted its position in shares of Navitas Semiconductor by 55.3% during the fourth quarter. Masters Capital Management LLC now owns 1,700,000 shares of the company's stock worth $13,719,000 after buying an additional 605,000 shares during the period. Finally, Barclays PLC boosted its position in shares of Navitas Semiconductor by 898.2% during the third quarter. Barclays PLC now owns 391,238 shares of the company's stock worth $2,720,000 after buying an additional 352,044 shares during the period. 46.14% of the stock is owned by institutional investors and hedge funds.

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.