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

Navitas Semiconductor Co. (NASDAQ:NVTS) has earned an average recommendation of “Moderate Buy” from the seven brokerages that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $3.82.

NVTS has been the topic of a number of recent research reports. Morgan Stanley lowered Navitas Semiconductor from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $2.10 to $1.50 in a research note on Monday, April 7th. Needham & Company LLC restated a “buy” rating and set a $4.00 price objective on shares of Navitas Semiconductor in a research report on Tuesday, February 25th. Rosenblatt Securities reiterated a “buy” rating and issued a $5.00 target price on shares of Navitas Semiconductor in a report on Thursday, March 13th. Finally, Robert W. Baird cut their price target on shares of Navitas Semiconductor from $5.00 to $4.00 and set an “outperform” rating for the company in a report on Wednesday, March 5th.

Insider Transactions at Navitas Semiconductor

In related news, Director Brian Long sold 47,189 shares of the firm’s stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $2.36, for a total value of $111,366.04. Following the sale, the director now owns 31,460 shares of the company’s stock, valued at $74,245.60. This trade represents a 60.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Todd Glickman sold 13,644 shares of Navitas Semiconductor stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $2.59, for a total transaction of $35,337.96. Following the completion of the transaction, the chief financial officer now owns 684,497 shares of the company’s stock, valued at $1,772,847.23. This represents a 1.95 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 74,477 shares of company stock valued at $182,042. 31.80% of the stock is currently owned by company insiders.

Institutional Trading of Navitas Semiconductor

Hedge funds and other institutional investors have recently bought and sold shares of the business. American Century Companies Inc. increased its holdings in shares of Navitas Semiconductor by 52.7% in the 4th quarter. American Century Companies Inc. now owns 15,704 shares of the company’s stock valued at $56,000 after acquiring an additional 5,419 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in Navitas Semiconductor by 125.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 10,294 shares of the company’s stock worth $37,000 after purchasing an additional 5,726 shares in the last quarter. 180 Wealth Advisors LLC boosted its holdings in shares of Navitas Semiconductor by 7.6% in the 1st quarter. 180 Wealth Advisors LLC now owns 97,602 shares of the company’s stock valued at $200,000 after buying an additional 6,920 shares in the last quarter. Goodman Financial Corp acquired a new position in shares of Navitas Semiconductor in the 4th quarter valued at $36,000. Finally, Caption Management LLC purchased a new stake in Navitas Semiconductor in the fourth quarter valued at $36,000. 46.14% of the stock is currently owned by institutional investors and hedge funds.

Navitas Semiconductor Price Performance

Shares of NASDAQ:NVTS opened at $2.00 on Tuesday. Navitas Semiconductor has a 1 year low of $1.52 and a 1 year high of $5.14. The firm has a market capitalization of $381.06 million, a PE ratio of -4.76 and a beta of 2.24. The business’s 50 day moving average price is $2.08 and its 200-day moving average price is $2.69.

Navitas Semiconductor (NASDAQ:NVTS) last posted its quarterly earnings results on Monday, May 5th. The company reported ($0.06) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.06). Navitas Semiconductor had a negative net margin of 84.61% and a negative return on equity of 23.64%. During the same quarter last year, the firm earned ($0.06) EPS. The firm’s revenue for the quarter was down 39.7% on a year-over-year basis. As a group, analysts expect that Navitas Semiconductor will post -0.51 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.