Navitas Semiconductor Co. (NASDAQ:NVTS) Given Consensus Rating of “Moderate Buy” by Analysts

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

A number of equities research analysts have issued reports on NVTS shares. Needham & Company LLC lowered 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. Rosenblatt Securities reissued a “buy” rating and set a $12.00 target price on shares of Navitas Semiconductor in a research report on Friday, March 1st. Finally, Northland Securities initiated coverage on shares of Navitas Semiconductor in a report on Tuesday, January 16th. They issued a “market perform” rating on the stock.

Insider Activity

In related news, CEO Eugene Sheridan sold 38,431 shares of the firm’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 sale, the chief executive officer now directly owns 3,061,631 shares of the company’s stock, valued at approximately $14,695,828.80. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Eugene Sheridan sold 38,431 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $4.80, for a total transaction of $184,468.80. Following the completion of the sale, the chief executive officer now directly owns 3,061,631 shares in the company, valued at $14,695,828.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 owns 29,357 shares in the company, valued at approximately $140,913.60. The disclosure for this sale can be found here. Insiders have sold 73,429 shares of company stock worth $352,459 over the last 90 days. Company insiders own 36.80% of the company’s stock.

Institutional Trading of Navitas Semiconductor

A number of hedge funds and other institutional investors have recently made changes to their positions in NVTS. DnB Asset Management AS bought a new stake in shares of Navitas Semiconductor in the 3rd quarter worth about $657,000. SG Americas Securities LLC bought a new position in Navitas Semiconductor during the 3rd quarter worth approximately $302,000. Commonwealth Equity Services LLC grew its position in shares of Navitas Semiconductor by 15.9% in the 3rd quarter. Commonwealth Equity Services LLC now owns 40,015 shares of the company’s stock worth $278,000 after acquiring an additional 5,500 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Navitas Semiconductor by 9.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 392,743 shares of the company’s stock valued at $2,730,000 after acquiring an additional 33,320 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. raised 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 valued at $76,000 after acquiring an additional 3,850 shares in the last quarter. Institutional investors own 46.14% of the company’s stock.

Navitas Semiconductor Stock Performance

NVTS opened at $4.46 on Friday. Navitas Semiconductor has a 1 year low of $3.54 and a 1 year high of $11.16. The company’s 50 day simple moving average is $4.83 and its 200 day simple moving average is $6.02. The stock has a market capitalization of $799.47 million, a PE ratio of -5.07 and a beta of 2.54.

Navitas Semiconductor (NASDAQ:NVTS) last announced its quarterly earnings results 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. The company had revenue of $26.06 million for the quarter, compared to analyst estimates 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, sell-side analysts expect that Navitas Semiconductor will post -0.46 earnings per share for the current fiscal 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.