Navitas Semiconductor (NASDAQ:NVTS) Cut to "Hold" at Deutsche Bank Aktiengesellschaft

Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) was downgraded by Deutsche Bank Aktiengesellschaft from a "buy" rating to a "hold" rating in a research note issued to investors on Tuesday,Finviz reports. They currently have a $3.50 price target on the stock. Deutsche Bank Aktiengesellschaft's price target would indicate a potential downside of 51.32% from the stock's current price.

A number of other brokerages also recently weighed in on NVTS. Robert W. Baird decreased their target price on shares of Navitas Semiconductor from $5.00 to $4.00 and set an "outperform" rating for the company in a research note on Wednesday, March 5th. Rosenblatt Securities lifted their price objective on Navitas Semiconductor from $4.00 to $6.00 and gave the company a "buy" rating in a research note on Thursday, May 22nd. Morgan Stanley downgraded Navitas Semiconductor from an "equal weight" rating to an "underweight" rating and reduced their price target for the company from $2.10 to $1.50 in a report on Monday, April 7th. Finally, Needham & Company LLC dropped their target price on shares of Navitas Semiconductor from $4.00 to $3.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $3.71.

Navitas Semiconductor Trading Down 1.8%

NASDAQ:NVTS opened at $7.19 on Tuesday. Navitas Semiconductor has a 12 month low of $1.52 and a 12 month high of $9.17. The company has a 50-day moving average price of $3.50 and a 200-day moving average price of $3.16. The stock has a market cap of $1.38 billion, a price-to-earnings ratio of -17.12 and a beta of 2.96.

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

Insider Transactions at Navitas Semiconductor

In other Navitas Semiconductor news, CEO Eugene Sheridan sold 238,668 shares of the stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $7.50, for a total value of $1,790,010.00. Following the transaction, the chief executive officer now owns 461,332 shares of the company's stock, valued at approximately $3,459,990. This represents a 34.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Todd Glickman sold 532,342 shares of the business's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $4.49, for a total value of $2,390,215.58. Following the sale, the chief financial officer now owns 234,501 shares of the company's stock, valued at approximately $1,052,909.49. This represents a 69.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 15,131,789 shares of company stock worth $99,872,523 in the last ninety days. Insiders own 29.90% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Simplicity Wealth LLC purchased a new position in Navitas Semiconductor during the first quarter valued at $26,000. Larson Financial Group LLC purchased a new position in shares of Navitas Semiconductor during the 1st quarter valued at about $28,000. Benjamin Edwards Inc. bought a new position in shares of Navitas Semiconductor during the 1st quarter valued at approximately $31,000. Goodman Financial Corp bought a new position in shares of Navitas Semiconductor during the 4th quarter valued at approximately $36,000. Finally, Caption Management LLC purchased a new stake in Navitas Semiconductor in the 4th quarter worth approximately $36,000. Hedge funds and other institutional investors own 46.14% of the company's stock.

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.

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