Navitas Semiconductor Co. (NASDAQ:NVTS) Receives $4.75 Average PT from Brokerages

Shares of Navitas Semiconductor Co. (NASDAQ:NVTS) have been assigned an average recommendation of “Moderate Buy” from the seven analysts that are covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $4.39.

A number of equities analysts have recently issued reports on NVTS shares. Rosenblatt Securities reiterated a “buy” rating and issued a $5.00 price objective on shares of Navitas Semiconductor in a report on Thursday, February 20th. Robert W. Baird cut their price objective on Navitas Semiconductor from $7.00 to $5.00 and set an “outperform” rating for the company in a report on Tuesday, November 5th. Craig Hallum cut their price objective on Navitas Semiconductor from $6.50 to $4.25 and set a “buy” rating for the company in a report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Navitas Semiconductor from $6.00 to $4.00 and set a “buy” rating for the company in a report on Tuesday, November 5th.

Insider Activity at Navitas Semiconductor

In related news, Director Richard J. Hendrix sold 80,000 shares of the stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $4.04, for a total transaction of $323,200.00. Following the completion of the sale, the director now directly owns 356,709 shares in the company, valued at $1,441,104.36. This represents a 18.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 31.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Navitas Semiconductor

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Navitas Semiconductor by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 9,873,888 shares of the company’s stock worth $35,250,000 after buying an additional 166,115 shares during the period. Point72 Asset Management L.P. lifted its holdings in Navitas Semiconductor by 87.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 8,031,474 shares of the company’s stock worth $19,677,000 after buying an additional 3,748,124 shares during the period. State Street Corp lifted its holdings in Navitas Semiconductor by 4.0% in the 3rd quarter. State Street Corp now owns 5,826,638 shares of the company’s stock worth $14,275,000 after buying an additional 221,575 shares during the period. ArrowMark Colorado Holdings LLC lifted its holdings in Navitas Semiconductor by 31.2% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 3,556,379 shares of the company’s stock worth $8,713,000 after buying an additional 845,664 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Navitas Semiconductor by 3.8% in the 4th quarter. Geode Capital Management LLC now owns 3,081,916 shares of the company’s stock worth $11,005,000 after buying an additional 113,277 shares during the period. Hedge funds and other institutional investors own 46.14% of the company’s stock.

Navitas Semiconductor Stock Down 8.8 %

Shares of NASDAQ NVTS opened at $2.89 on Thursday. The firm has a market capitalization of $539.84 million, a P/E ratio of -6.88 and a beta of 2.20. The stock’s 50-day simple moving average is $3.32 and its two-hundred day simple moving average is $2.89. Navitas Semiconductor has a twelve month low of $1.75 and a twelve month high of $7.40.

Navitas Semiconductor (NASDAQ:NVTS) last announced its earnings results on Monday, February 24th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.02). Navitas Semiconductor had a negative return on equity of 23.64% and a negative net margin of 84.61%. As a group, research analysts anticipate that Navitas Semiconductor will post -0.51 EPS for the current fiscal year.

About Navitas Semiconductor

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.