Navitas Semiconductor (NASDAQ:NVTS) Stock Price Up 4.1%

Navitas Semiconductor Co. (NASDAQ:NVTSGet Free Report)’s stock price rose 4.1% during mid-day trading on Monday . The stock traded as high as $4.29 and last traded at $4.28. Approximately 153,286 shares were traded during trading, a decline of 94% from the average daily volume of 2,720,856 shares. The stock had previously closed at $4.11.

Wall Street Analysts Forecast Growth

NVTS has been the subject of several research reports. Deutsche Bank Aktiengesellschaft cut their price target on Navitas Semiconductor from $9.00 to $7.00 and set a “buy” rating for the company in a research note on Friday, May 10th. Rosenblatt Securities reaffirmed a “buy” rating and set a $10.00 price target on shares of Navitas Semiconductor in a research note on Friday, June 7th. Robert W. Baird cut their price target on Navitas Semiconductor from $12.00 to $7.00 and set an “outperform” rating for the company in a research note on Friday, May 10th. Needham & Company LLC cut their price target on Navitas Semiconductor from $9.00 to $7.00 and set a “buy” rating for the company in a research note on Friday, May 10th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $4.00 price target (down previously from $10.00) on shares of Navitas Semiconductor in a research note on Monday, May 13th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Navitas Semiconductor presently has a consensus rating of “Moderate Buy” and a consensus price target of $7.41.

Read Our Latest Research Report on Navitas Semiconductor

Navitas Semiconductor Stock Performance

The business has a 50-day moving average of $4.15 and a 200 day moving average of $5.12.

Navitas Semiconductor (NASDAQ:NVTSGet Free Report) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.02). The business had revenue of $23.18 million during the quarter, compared to analysts’ expectations of $23.15 million. Navitas Semiconductor had a negative net margin of 97.75% and a negative return on equity of 21.22%. As a group, analysts expect that Navitas Semiconductor Co. will post -0.53 earnings per share for the current year.

Insider Buying and Selling

In other Navitas Semiconductor news, Director Dipender Saluja sold 87,059 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $4.45, for a total value of $387,412.55. Following the transaction, the director now directly owns 5,944,420 shares of the company’s stock, valued at approximately $26,452,669. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 31.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Navitas Semiconductor

Institutional investors have recently made changes to their positions in the business. Masters Capital Management LLC raised its position in shares of Navitas Semiconductor by 55.3% in the 4th quarter. Masters Capital Management LLC now owns 1,700,000 shares of the company’s stock valued at $13,719,000 after purchasing an additional 605,000 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Navitas Semiconductor by 14.2% during the 3rd quarter. Vanguard Group Inc. now owns 8,572,707 shares of the company’s stock valued at $59,580,000 after acquiring an additional 1,064,010 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Navitas Semiconductor by 3.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 940,048 shares of the company’s stock valued at $7,586,000 after acquiring an additional 34,524 shares in the last quarter. Kodai Capital Management LP acquired a new stake in shares of Navitas Semiconductor during the 4th quarter valued at approximately $31,869,000. Finally, Russell Investments Group Ltd. raised its position in shares of Navitas Semiconductor by 25.0% during the 4th quarter. Russell Investments Group Ltd. now owns 65,328 shares of the company’s stock valued at $527,000 after acquiring an additional 13,081 shares in the last quarter. 46.14% of the stock is owned by institutional investors and hedge funds.

Navitas Semiconductor Company Profile

(Get Free Report)

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.

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