Navitas Semiconductor Co. (NASDAQ:NVTS) Receives Consensus Rating of “Moderate Buy” from Brokerages

Navitas Semiconductor Co. (NASDAQ:NVTS) has received an average rating of “Moderate Buy” from the six research firms that are presently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $9.82.

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

Insiders Place Their Bets

In other Navitas Semiconductor news, COO Daniel M. Kinzer sold 24,073 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 $115,550.40. Following the completion of the transaction, the chief operating officer now directly owns 4,538,353 shares in the company, valued at $21,784,094.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Eugene Sheridan sold 38,431 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $4.80, for a total transaction of $184,468.80. Following the completion of the transaction, the chief executive officer now owns 3,061,631 shares in the company, valued at $14,695,828.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Daniel M. Kinzer sold 24,073 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $4.80, for a total transaction of $115,550.40. Following the transaction, the chief operating officer now owns 4,538,353 shares of the company’s stock, valued at approximately $21,784,094.40. The disclosure for this sale can be found here. Insiders sold a total of 73,429 shares of company stock worth $352,459 over the last three months. 36.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Navitas Semiconductor

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. 180 Wealth Advisors LLC boosted its position in shares of Navitas Semiconductor by 91.2% during the first quarter. 180 Wealth Advisors LLC now owns 32,158 shares of the company’s stock worth $153,000 after acquiring an additional 15,335 shares during the last quarter. Penn Capital Management Company LLC boosted its position in shares of Navitas Semiconductor by 9.0% during the fourth quarter. Penn Capital Management Company LLC now owns 1,360,204 shares of the company’s stock worth $10,992,000 after acquiring an additional 112,551 shares during the last quarter. G2 Investment Partners Management LLC bought a new position in shares of Navitas Semiconductor during the fourth quarter worth $574,000. Masters Capital Management LLC boosted its position in shares of Navitas Semiconductor by 55.3% during the fourth quarter. Masters Capital Management LLC now owns 1,700,000 shares of the company’s stock worth $13,719,000 after acquiring an additional 605,000 shares during the last quarter. Finally, Intrinsic Edge Capital Management LLC boosted its position in shares of Navitas Semiconductor by 91.6% during the fourth quarter. Intrinsic Edge Capital Management LLC now owns 2,717,692 shares of the company’s stock worth $21,932,000 after acquiring an additional 1,299,524 shares during the last quarter. Institutional investors own 46.14% of the company’s stock.

Navitas Semiconductor Stock Up 0.2 %

NVTS opened at $4.14 on Friday. The firm has a 50 day moving average price of $4.87 and a 200-day moving average price of $6.04. Navitas Semiconductor has a twelve month low of $3.54 and a twelve month high of $11.16. The stock has a market capitalization of $742.10 million, a price-to-earnings ratio of -4.70 and a beta of 2.54.

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 the consensus estimate of ($0.13) by $0.02. The firm had revenue of $26.06 million during the quarter, compared to analysts’ expectations of $25.68 million. Navitas Semiconductor had a negative net margin of 183.04% and a negative return on equity of 18.81%. As a group, analysts expect that Navitas Semiconductor will post -0.46 earnings per share 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.