Navitas Semiconductor (NASDAQ:NVTS) Price Target Lowered to $4.25 at Craig Hallum

Navitas Semiconductor (NASDAQ:NVTS) had its price objective cut by Craig Hallum from $6.50 to $4.25 in a report released on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

NVTS has been the topic of a number of other research reports. Morgan Stanley decreased their price target 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. Needham & Company LLC reduced their price target on Navitas Semiconductor from $7.00 to $5.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft dropped their price objective on Navitas Semiconductor from $7.00 to $6.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Robert W. Baird reduced their target price on Navitas Semiconductor from $7.00 to $5.00 and set an “outperform” rating on the stock in a report on Tuesday. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $7.50 price objective on shares of Navitas Semiconductor in a research report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $4.75.

Navitas Semiconductor Stock Down 1.8 %

NASDAQ:NVTS opened at $2.16 on Tuesday. Navitas Semiconductor has a twelve month low of $2.13 and a twelve month high of $8.44. The stock’s 50 day moving average price is $2.46 and its two-hundred day moving average price is $3.41.

Navitas Semiconductor (NASDAQ:NVTS) last announced its quarterly earnings data on Monday, November 4th. The company reported ($0.06) EPS for the quarter, meeting analysts’ consensus estimates of ($0.06). The company had revenue of $21.68 million during the quarter, compared to the consensus estimate of $21.93 million. Navitas Semiconductor had a negative net margin of 84.61% and a negative return on equity of 23.64%. The company’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter last year, the firm posted ($0.10) EPS. Sell-side analysts anticipate that Navitas Semiconductor will post -0.53 EPS for the current fiscal year.

Insider Activity at Navitas Semiconductor

In other news, CEO Eugene Sheridan sold 453,190 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $3.03, for a total value of $1,373,165.70. Following the transaction, the chief executive officer now owns 2,608,441 shares in the company, valued at approximately $7,903,576.23. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Navitas Semiconductor news, Director David Moxam sold 33,000 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $3.13, for a total transaction of $103,290.00. Following the transaction, the director now directly owns 867,848 shares in the company, valued at approximately $2,716,364.24. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Eugene Sheridan sold 453,190 shares of Navitas Semiconductor stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $3.03, for a total transaction of $1,373,165.70. Following the completion of the sale, the chief executive officer now owns 2,608,441 shares of the company’s stock, valued at $7,903,576.23. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 829,852 shares of company stock worth $2,528,252 over the last three months. Company insiders own 31.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Bleakley Financial Group LLC acquired a new position in shares of Navitas Semiconductor during the third quarter worth approximately $41,000. GSA Capital Partners LLP bought a new position in shares of Navitas Semiconductor in the third quarter valued at $44,000. DRW Securities LLC acquired a new position in shares of Navitas Semiconductor during the second quarter valued at about $46,000. Wedbush Securities Inc. bought a new stake in shares of Navitas Semiconductor during the second quarter worth about $49,000. Finally, Algert Global LLC acquired a new stake in shares of Navitas Semiconductor in the 2nd quarter worth about $50,000. 46.14% of the stock is owned by institutional investors and hedge funds.

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.