Navitas Semiconductor Co. (NASDAQ:NVTS) Receives $9.82 Consensus PT from Brokerages

Shares of Navitas Semiconductor Co. (NASDAQ:NVTS) have been assigned an average rating of “Moderate Buy” from the six analysts that are covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $9.82.

A number of brokerages have issued reports on NVTS. Needham & Company LLC cut their price objective on Navitas Semiconductor from $10.00 to $9.00 and set a “buy” rating for the company in a report on Friday, March 1st. Rosenblatt Securities reissued a “buy” rating and set a $12.00 price target on shares of Navitas Semiconductor in a report on Friday, March 1st. Finally, Northland Securities assumed coverage on shares of Navitas Semiconductor in a research note on Tuesday, January 16th. They set a “market perform” rating on the stock.

Navitas Semiconductor Stock Performance

NASDAQ:NVTS opened at $3.79 on Friday. The company has a market capitalization of $679.36 million, a price-to-earnings ratio of -4.31 and a beta of 2.54. The company has a 50-day moving average of $4.98 and a 200-day moving average of $6.06. Navitas Semiconductor has a 52 week low of $3.54 and a 52 week high of $11.16.

Navitas Semiconductor (NASDAQ:NVTS) last released its quarterly earnings data on Thursday, February 29th. The company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.02. Navitas Semiconductor had a negative return on equity of 18.81% and a negative net margin of 183.04%. The company had revenue of $26.06 million for the quarter, compared to the consensus estimate of $25.68 million. Sell-side analysts forecast that Navitas Semiconductor will post -0.46 EPS for the current year.

Insider Buying and Selling

In other Navitas Semiconductor news, EVP Ranbir Singh sold 10,925 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $4.80, for a total value of $52,440.00. Following the completion of the transaction, the executive vice president now directly owns 29,357 shares of the company’s stock, valued at $140,913.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Ranbir Singh sold 10,925 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $4.80, for a total value of $52,440.00. Following the completion of the transaction, the executive vice president now owns 29,357 shares in the company, valued at $140,913.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Eugene Sheridan sold 38,431 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $4.80, for a total value of $184,468.80. Following the transaction, the chief executive officer now owns 3,061,631 shares of the company’s stock, valued at approximately $14,695,828.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 73,429 shares of company stock valued at $352,459. 36.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. State Board of Administration of Florida Retirement System lifted its position in Navitas Semiconductor by 7.8% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 31,230 shares of the company’s stock worth $217,000 after buying an additional 2,250 shares in the last quarter. Laidlaw Wealth Management LLC boosted its position in Navitas Semiconductor by 16.7% during the fourth quarter. Laidlaw Wealth Management LLC now owns 18,316 shares of the company’s stock valued at $148,000 after purchasing an additional 2,618 shares during the last quarter. Victory Capital Management Inc. grew its stake in Navitas Semiconductor by 23.9% in the fourth quarter. Victory Capital Management Inc. now owns 15,842 shares of the company’s stock valued at $128,000 after purchasing an additional 3,052 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its position in shares of Navitas Semiconductor by 52.3% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 11,210 shares of the company’s stock worth $76,000 after purchasing an additional 3,850 shares during the last quarter. Finally, Quantbot Technologies LP raised its stake in shares of Navitas Semiconductor by 3.5% during the 3rd quarter. Quantbot Technologies LP now owns 141,264 shares of the company’s stock worth $982,000 after purchasing an additional 4,735 shares in the last quarter. Institutional investors and hedge funds 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.