Navitas Semiconductor Co. (NASDAQ:NVTS - Get Free Report) shares saw an uptick in trading volume on Monday . 16,738,167 shares were traded during trading, an increase of 82% from the previous session's volume of 9,191,115 shares.The stock last traded at $7.19 and had previously closed at $6.18.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on NVTS. Morgan Stanley downgraded Navitas Semiconductor from an "equal weight" rating to an "underweight" rating and decreased their target price for the stock from $2.10 to $1.50 in a report on Monday, April 7th. Rosenblatt Securities lifted their price target on Navitas Semiconductor from $4.00 to $6.00 and gave the company a "buy" rating in a research report on Thursday, May 22nd. Needham & Company LLC reduced their price target on Navitas Semiconductor from $4.00 to $3.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. Finally, Robert W. Baird reduced their price target on Navitas Semiconductor from $5.00 to $4.00 and set an "outperform" rating for the company in a research report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Navitas Semiconductor currently has a consensus rating of "Moderate Buy" and a consensus target price of $3.79.
Read Our Latest Analysis on NVTS
Navitas Semiconductor Stock Up 24.8%
The stock has a market capitalization of $1.48 billion, a PE ratio of -18.32 and a beta of 2.96. The company has a 50-day moving average of $2.79 and a 200 day moving average of $2.95.
Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported ($0.06) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.06). The company had revenue of $14.02 million for 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 firm's revenue for the quarter was down 39.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.06) earnings per share. As a group, equities analysts predict that Navitas Semiconductor Co. will post -0.51 EPS for the current fiscal year.
Insider Activity
In other news, Director Brian Long sold 47,189 shares of the company's stock in a transaction on Friday, March 21st. The stock was sold at an average price of $2.36, for a total value of $111,366.04. Following the transaction, the director now owns 31,460 shares of the company's stock, valued at $74,245.60. This represents a 60.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director David Moxam sold 75,000 shares of the company's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $2.08, for a total value of $156,000.00. Following the completion of the transaction, the director now directly owns 792,848 shares in the company, valued at approximately $1,649,123.84. This trade represents a 8.64% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,531,933 shares of company stock valued at $56,140,270 in the last quarter. Insiders own 29.90% of the company's stock.
Institutional Investors Weigh In On Navitas Semiconductor
Institutional investors and hedge funds have recently modified their holdings of the company. Goodman Financial Corp purchased a new stake in shares of Navitas Semiconductor in the 4th quarter valued at $36,000. Caption Management LLC purchased a new stake in Navitas Semiconductor during the 4th quarter worth about $36,000. Tower Research Capital LLC TRC increased its holdings in Navitas Semiconductor by 125.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 10,294 shares of the company's stock worth $37,000 after purchasing an additional 5,726 shares during the period. Steel Grove Capital Advisors LLC purchased a new stake in Navitas Semiconductor during the 4th quarter worth about $39,000. Finally, Cibc World Markets Corp purchased a new stake in Navitas Semiconductor during the 4th quarter worth about $42,000. Hedge funds and other institutional investors own 46.14% of the company's stock.
About Navitas Semiconductor
(
Get Free Report)
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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