Navitas Semiconductor (NASDAQ:NVTS) Given Buy Rating at Rosenblatt Securities

Rosenblatt Securities reissued their buy rating on shares of Navitas Semiconductor (NASDAQ:NVTS) in a research note published on Friday morning, Benzinga reports. They currently have a $12.00 price objective on the stock.

NVTS has been the subject of several other reports. Needham & Company LLC dropped their price target on 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 started coverage on Navitas Semiconductor in a research report on Tuesday, January 16th. They set a market perform rating for the company. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $9.82.

Navitas Semiconductor Stock Performance

Navitas Semiconductor stock opened at $4.80 on Friday. Navitas Semiconductor has a 12 month low of $3.54 and a 12 month high of $11.16. The business has a 50 day simple moving average of $4.65 and a 200-day simple moving average of $5.96.

Navitas Semiconductor (NASDAQ:NVTS) last issued its quarterly earnings results on Thursday, February 29th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate 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 firm had revenue of $26.06 million during the quarter, compared to analysts’ expectations of $25.68 million. As a group, research analysts anticipate that Navitas Semiconductor will post -0.46 EPS for the current fiscal year.

Insider Activity at Navitas Semiconductor

In related news, CEO Eugene Sheridan sold 38,431 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $4.80, for a total value of $184,468.80. Following the sale, the chief executive officer now owns 3,061,631 shares in the company, valued at approximately $14,695,828.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, COO Daniel M. Kinzer sold 24,073 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $4.80, for a total value of $115,550.40. Following the sale, the chief operating officer now owns 4,538,353 shares in the company, valued at approximately $21,784,094.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Eugene Sheridan sold 38,431 shares of the company’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 $184,468.80. Following the sale, the chief executive officer now owns 3,061,631 shares in the company, valued at approximately $14,695,828.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 73,429 shares of company stock worth $352,459. 36.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Navitas Semiconductor

Several large investors have recently bought and sold shares of the stock. SG Americas Securities LLC purchased a new stake in Navitas Semiconductor during the 1st quarter worth about $65,000. Quantbot Technologies LP increased its holdings in Navitas Semiconductor by 550.4% during the 1st quarter. Quantbot Technologies LP now owns 40,565 shares of the company’s stock worth $193,000 after purchasing an additional 34,328 shares during the period. Benjamin F. Edwards & Company Inc. increased its holdings in Navitas Semiconductor by 72.5% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 13,200 shares of the company’s stock worth $63,000 after purchasing an additional 5,550 shares during the period. 180 Wealth Advisors LLC increased its holdings in Navitas Semiconductor by 91.2% during the 1st quarter. 180 Wealth Advisors LLC now owns 32,158 shares of the company’s stock worth $153,000 after purchasing an additional 15,335 shares during the period. Finally, Penn Capital Management Company LLC increased its holdings in Navitas Semiconductor by 9.0% during the 4th quarter. Penn Capital Management Company LLC now owns 1,360,204 shares of the company’s stock worth $10,992,000 after purchasing an additional 112,551 shares during the period. 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.