Deutsche Bank Aktiengesellschaft Cuts Navitas Semiconductor (NASDAQ:NVTS) Price Target to $4.00

Navitas Semiconductor (NASDAQ:NVTS) had its target price trimmed by Deutsche Bank Aktiengesellschaft from $6.00 to $4.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

NVTS has been the topic of a number of other research reports. Needham & Company LLC dropped their price target on shares of Navitas Semiconductor from $7.00 to $5.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Craig Hallum lowered their price objective on shares of Navitas Semiconductor from $6.50 to $4.25 and set a “buy” rating on the stock in a research note on Tuesday. Rosenblatt Securities reiterated a “buy” rating and issued a $7.50 price objective on shares of Navitas Semiconductor in a research note on Thursday, October 31st. Robert W. Baird lowered their price objective on shares of Navitas Semiconductor from $7.00 to $5.00 and set an “outperform” rating on the stock in a research note on Tuesday. Finally, Morgan Stanley decreased their target price on shares of Navitas Semiconductor from $4.60 to $3.50 and set an “equal weight” rating on the stock in a research note on Tuesday, August 6th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $4.75.

Navitas Semiconductor Price Performance

NASDAQ:NVTS opened at $2.20 on Tuesday. The firm’s 50-day moving average price is $2.48 and its 200-day moving average price is $3.42. The company has a market capitalization of $402.82 million, a PE ratio of -5.24 and a beta of 2.36. Navitas Semiconductor has a 1-year low of $2.14 and a 1-year high of $8.44.

Navitas Semiconductor (NASDAQ:NVTS) last announced its quarterly earnings data on Monday, November 4th. The company reported ($0.06) EPS for the quarter, meeting the consensus estimate of ($0.06). Navitas Semiconductor had a negative net margin of 84.61% and a negative return on equity of 23.51%. The company had revenue of $21.68 million for the quarter, compared to the consensus estimate of $21.93 million. During the same period in the prior year, the firm posted ($0.10) EPS. Navitas Semiconductor’s revenue for the quarter was down 1.4% on a year-over-year basis. Equities analysts anticipate that Navitas Semiconductor will post -0.53 EPS for the current fiscal year.

Insider Buying and Selling at Navitas Semiconductor

In related news, Director David Moxam sold 33,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $3.13, for a total value of $103,290.00. Following the completion of the transaction, the director now directly owns 867,848 shares of the company’s stock, valued at approximately $2,716,364.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Navitas Semiconductor news, Director David Moxam sold 33,000 shares of Navitas Semiconductor stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $3.13, for a total transaction of $103,290.00. Following the completion of the transaction, the director now directly owns 867,848 shares of the company’s stock, valued at $2,716,364.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Eugene Sheridan sold 193,662 shares of Navitas Semiconductor stock in a transaction on Friday, August 30th. The stock was sold at an average price of $3.03, for a total transaction of $586,795.86. Following the transaction, the chief executive officer now directly owns 2,149,631 shares of the company’s stock, valued at $6,513,381.93. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 829,852 shares of company stock valued at $2,528,252 in the last three months. 31.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of NVTS. Quantbot Technologies LP lifted its position in shares of Navitas Semiconductor by 550.4% during the first quarter. Quantbot Technologies LP now owns 40,565 shares of the company’s stock worth $193,000 after purchasing an additional 34,328 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Navitas Semiconductor during the first quarter worth $65,000. Swiss National Bank lifted its position in shares of Navitas Semiconductor by 2.9% during the first quarter. Swiss National Bank now owns 246,700 shares of the company’s stock worth $1,177,000 after purchasing an additional 7,000 shares during the last quarter. Russell Investments Group Ltd. lifted its position in shares of Navitas Semiconductor by 13.1% during the first quarter. Russell Investments Group Ltd. now owns 73,893 shares of the company’s stock worth $352,000 after purchasing an additional 8,565 shares during the last quarter. Finally, ProShare Advisors LLC raised its holdings in shares of Navitas Semiconductor by 12.5% in the first quarter. ProShare Advisors LLC now owns 20,348 shares of the company’s stock valued at $97,000 after acquiring an additional 2,258 shares in the last quarter. 46.14% of the stock is owned by hedge funds and other institutional investors.

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.