Navitas Semiconductor Co. (NASDAQ:NVTS) Given Average Recommendation of "Moderate Buy" by Brokerages

Navitas Semiconductor Co. (NASDAQ:NVTS - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the seven analysts that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $3.54.

Several research analysts have recently issued reports on the stock. Morgan Stanley downgraded shares of Navitas Semiconductor from an "equal weight" rating to an "underweight" rating and dropped their target price for the stock from $2.10 to $1.50 in a research note on Monday, April 7th. Needham & Company LLC cut their target price on Navitas Semiconductor from $4.00 to $3.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Rosenblatt Securities reaffirmed a "buy" rating and set a $4.00 price target on shares of Navitas Semiconductor in a report on Tuesday, May 6th. Finally, Robert W. Baird reduced their price objective on Navitas Semiconductor from $5.00 to $4.00 and set an "outperform" rating for the company in a report on Wednesday, March 5th.

Navitas Semiconductor Price Performance

NASDAQ:NVTS traded down $0.02 during mid-day trading on Tuesday, hitting $1.88. 2,939,237 shares of the company's stock were exchanged, compared to its average volume of 3,782,271. Navitas Semiconductor has a one year low of $1.52 and a one year high of $5.14. The business has a fifty day moving average price of $2.04 and a 200 day moving average price of $2.67. The company has a market cap of $358.20 million, a PE ratio of -4.48 and a beta of 2.24.

Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last released its earnings results on Monday, May 5th. The company reported ($0.06) EPS for the quarter, hitting the consensus estimate of ($0.06). The business had revenue of $14.02 million for the quarter, compared to the consensus estimate of $14.01 million. Navitas Semiconductor had a negative return on equity of 23.64% and a negative net margin of 84.61%. The company's revenue for the quarter was down 39.7% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.06) earnings per share. On average, equities analysts forecast that Navitas Semiconductor will post -0.51 EPS for the current fiscal year.

Insider Buying and Selling

In other Navitas Semiconductor news, CFO Todd Glickman sold 13,644 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $2.59, for a total value of $35,337.96. Following the completion of the sale, the chief financial officer now owns 684,497 shares in the company, valued at approximately $1,772,847.23. This represents a 1.95 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Brian Long sold 47,189 shares of Navitas Semiconductor stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $2.36, for a total value of $111,366.04. Following the sale, the director now directly owns 31,460 shares in the company, valued at $74,245.60. This trade represents a 60.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 78,877 shares of company stock valued at $193,262. 31.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Navitas Semiconductor

Several institutional investors have recently bought and sold shares of NVTS. Bank of America Corp DE increased its holdings in shares of Navitas Semiconductor by 180.5% in the 4th quarter. Bank of America Corp DE now owns 1,234,375 shares of the company's stock worth $4,407,000 after buying an additional 794,371 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of Navitas Semiconductor during the fourth quarter worth approximately $1,170,000. Edge Capital Group LLC purchased a new stake in Navitas Semiconductor in the fourth quarter worth about $987,000. DnB Asset Management AS raised its position in shares of Navitas Semiconductor by 109.8% in the 4th quarter. DnB Asset Management AS now owns 506,124 shares of the company's stock worth $1,807,000 after acquiring an additional 264,906 shares in the last quarter. Finally, Corbin Capital Partners L.P. bought a new stake in shares of Navitas Semiconductor in the 4th quarter valued at about $773,000. 46.14% of the stock is owned by hedge funds and other 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.