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

Shares of Navitas Semiconductor Co. (NASDAQ:NVTS) have received a consensus recommendation of “Moderate Buy” from the seven ratings firms that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $3.54.

NVTS has been the topic of several research analyst reports. Morgan Stanley lowered shares of Navitas Semiconductor from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $2.10 to $1.50 in a research report on Monday, April 7th. Rosenblatt Securities reiterated a “buy” rating and issued a $4.00 price objective on shares of Navitas Semiconductor in a report on Tuesday, May 6th. Robert W. Baird reduced their target price on Navitas Semiconductor from $5.00 to $4.00 and set an “outperform” rating for the company in a report on Wednesday, March 5th. Finally, Needham & Company LLC lowered their price target on Navitas Semiconductor from $4.00 to $3.00 and set a “buy” rating on the stock in a research note on Tuesday, May 6th.

Navitas Semiconductor Stock Performance

Shares of NVTS opened at $1.88 on Tuesday. The stock has a 50-day moving average of $2.04 and a two-hundred day moving average of $2.67. The stock has a market cap of $358.20 million, a P/E ratio of -4.48 and a beta of 2.24. Navitas Semiconductor has a one year low of $1.52 and a one year high of $5.14.

Navitas Semiconductor (NASDAQ:NVTS) last issued its earnings results on Monday, May 5th. The company reported ($0.06) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.06). The firm had revenue of $14.02 million during the quarter, compared to analysts’ expectations of $14.01 million. Navitas Semiconductor had a negative net margin of 84.61% and a negative return on equity of 23.64%. The firm’s revenue was down 39.7% compared to the same quarter last year. During the same quarter last year, the company posted ($0.06) earnings per share. Analysts predict that Navitas Semiconductor will post -0.51 EPS for the current fiscal year.

Insider Transactions at Navitas Semiconductor

In other Navitas Semiconductor news, Director Brian Long sold 47,189 shares of the business’s stock in a transaction on Friday, March 21st. The shares were sold at an average price of $2.36, for a total transaction of $111,366.04. Following the sale, the director now directly owns 31,460 shares in the company, valued at approximately $74,245.60. The trade was a 60.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Todd Glickman sold 13,644 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $2.59, for a total transaction of $35,337.96. Following the sale, the chief financial officer now directly owns 684,497 shares in the company, valued at approximately $1,772,847.23. This represents a 1.95 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 78,877 shares of company stock worth $193,262. Company insiders own 31.80% of the company’s stock.

Institutional Trading of Navitas Semiconductor

Several institutional investors and hedge funds have recently modified their holdings of the business. Simplicity Wealth LLC acquired a new position in shares of Navitas Semiconductor in the first quarter worth $26,000. Larson Financial Group LLC purchased a new stake in shares of Navitas Semiconductor during the 1st quarter worth about $28,000. Goodman Financial Corp purchased a new position in shares of Navitas Semiconductor in the 4th quarter valued at $36,000. Caption Management LLC acquired a new position in shares of Navitas Semiconductor during the fourth quarter worth about $36,000. Finally, Teacher Retirement System of Texas purchased a new position in Navitas Semiconductor in the 1st quarter worth approximately $36,000. Hedge funds and other institutional investors own 46.14% of the company’s stock.

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.