Shares of Navitas Semiconductor Co. (NASDAQ:NVTS - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the six brokerages that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating and five have issued a buy rating on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $3.79.
A number of research analysts have commented on the company. Needham & Company LLC reduced their target price on Navitas Semiconductor from $4.00 to $3.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Rosenblatt Securities raised their price target on Navitas Semiconductor from $4.00 to $6.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. Morgan Stanley downgraded Navitas Semiconductor from an "equal weight" rating to an "underweight" rating and cut their price target for the stock from $2.10 to $1.50 in a report on Monday, April 7th. Finally, Robert W. Baird cut their price target on Navitas Semiconductor from $5.00 to $4.00 and set an "outperform" rating on the stock in a report on Wednesday, March 5th.
Read Our Latest Stock Analysis on Navitas Semiconductor
Navitas Semiconductor Trading Up 12.3%
NASDAQ NVTS traded up $0.73 during mid-day trading on Friday, reaching $6.67. 75,198,057 shares of the company's stock traded hands, compared to its average volume of 8,502,953. Navitas Semiconductor has a 1-year low of $1.52 and a 1-year high of $7.53. The company has a fifty day simple moving average of $2.53 and a 200-day simple moving average of $2.85. The company has a market cap of $1.28 billion, a price-to-earnings ratio of -15.88 and a beta of 2.24.
Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported ($0.06) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.06). Navitas Semiconductor had a negative return on equity of 23.64% and a negative net margin of 84.61%. The firm had revenue of $14.02 million during the quarter, compared to analyst estimates of $14.01 million. During the same quarter last year, the firm earned ($0.06) EPS. Navitas Semiconductor's quarterly revenue was down 39.7% on a year-over-year basis. Equities research analysts forecast that Navitas Semiconductor will post -0.51 earnings per share for the current fiscal year.
Insider Buying and Selling at Navitas Semiconductor
In other Navitas Semiconductor news, Director Brian Long sold 47,189 shares of Navitas Semiconductor stock in a transaction on Friday, March 21st. The stock was sold at an average price of $2.36, for a total transaction of $111,366.04. Following the sale, the director now owns 31,460 shares of the company's stock, valued at $74,245.60. The trade was a 60.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Eugene Sheridan sold 2,155,783 shares of Navitas Semiconductor stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $4.49, for a total value of $9,679,465.67. The disclosure for this sale can be found here. Insiders have sold 4,478,587 shares of company stock valued at $22,447,680 in the last quarter. Corporate insiders own 31.80% of the company's stock.
Hedge Funds Weigh In On Navitas Semiconductor
Several hedge funds have recently modified their holdings of NVTS. SG Americas Securities LLC increased its position in shares of Navitas Semiconductor by 81.7% during the 4th quarter. SG Americas Securities LLC now owns 98,601 shares of the company's stock valued at $352,000 after purchasing an additional 44,340 shares during the period. Compass Capital Corp MA ADV acquired a new position in shares of Navitas Semiconductor in the 4th quarter worth $553,000. Edge Capital Group LLC acquired a new position in shares of Navitas Semiconductor in the 4th quarter worth $987,000. Bank of New York Mellon Corp grew its holdings in shares of Navitas Semiconductor by 27.6% in the 4th quarter. Bank of New York Mellon Corp now owns 498,713 shares of the company's stock worth $1,780,000 after acquiring an additional 107,828 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new position in shares of Navitas Semiconductor in the 4th quarter worth $66,000. 46.14% of the stock is currently owned by institutional investors and hedge funds.
About Navitas Semiconductor
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Get Free ReportNavitas 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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