Navitas Semiconductor Corporation (NASDAQ:NVTS) Receives Average Recommendation of "Moderate Buy" from Analysts

Navitas Semiconductor Corporation (NASDAQ:NVTS - Get Free Report) has been given a consensus rating of "Moderate Buy" by the six brokerages that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $3.71.

A number of equities analysts recently issued reports on the stock. Morgan Stanley cut shares of Navitas Semiconductor from an "equal weight" rating to an "underweight" rating and dropped their price target for the stock from $2.10 to $1.50 in a research note on Monday, April 7th. Rosenblatt Securities upped their price target on Navitas Semiconductor from $4.00 to $6.00 and gave the stock a "buy" rating in a research note on Thursday, May 22nd. Deutsche Bank Aktiengesellschaft lowered Navitas Semiconductor from a "buy" rating to a "hold" rating and set a $3.50 price target on the stock. in a report on Tuesday, June 17th. Finally, 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 research note on Tuesday, May 6th.

Insiders Place Their Bets

In related news, Director Richard J. Hendrix sold 20,000 shares of the company's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $8.12, for a total value of $162,400.00. Following the sale, the director owned 45,456 shares in the company, valued at $369,102.72. This represents a 30.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Ranbir Singh sold 21,782 shares of the business's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $8.53, for a total transaction of $185,800.46. Following the completion of the sale, the director owned 19,214,053 shares in the company, valued at $163,895,872.09. This represents a 0.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 15,084,600 shares of company stock valued at $99,761,157. 29.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Navitas Semiconductor

Institutional investors have recently added to or reduced their stakes in the company. Cranbrook Wealth Management LLC bought a new stake in shares of Navitas Semiconductor in the second quarter worth $25,000. Simplicity Wealth LLC bought a new position in Navitas Semiconductor in the 1st quarter worth about $26,000. Larson Financial Group LLC bought a new stake in Navitas Semiconductor during the 1st quarter valued at $28,000. Benjamin Edwards Inc. bought a new stake in shares of Navitas Semiconductor during the 1st quarter worth about $31,000. Finally, ST Germain D J Co. Inc. acquired a new position in Navitas Semiconductor during the second quarter worth about $33,000. Hedge funds and other institutional investors own 46.14% of the company's stock.

Navitas Semiconductor Stock Up 8.3%

NVTS traded up $0.52 on Friday, hitting $6.79. The company's stock had a trading volume of 30,329,986 shares, compared to its average volume of 13,135,883. Navitas Semiconductor has a 12 month low of $1.52 and a 12 month high of $9.17. The company's 50 day simple moving average is $5.72 and its 200-day simple moving average is $3.65.

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 (EPS) for the quarter, hitting analysts' consensus estimates of ($0.06). Navitas Semiconductor had a negative return on equity of 22.62% and a negative net margin of 131.83%. The company had revenue of $14.02 million for the quarter, compared to the consensus estimate of $14.01 million. During the same quarter last year, the business posted ($0.06) earnings per share. The firm's revenue was down 39.7% compared to the same quarter last year. On average, sell-side analysts expect that Navitas Semiconductor will post -0.51 EPS for the current year.

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.