Navitas Semiconductor (NASDAQ:NVTS) Stock Rating Reaffirmed by Rosenblatt Securities

Rosenblatt Securities reissued their buy rating on shares of Navitas Semiconductor (NASDAQ:NVTS) in a report published on Friday, Benzinga reports. They currently have a $10.00 price objective on the stock.

Other equities analysts have also issued research reports about the company. Jefferies Financial Group restated a hold rating and set a $4.00 price objective (down previously from $10.00) on shares of Navitas Semiconductor in a research note on Monday, May 13th. Deutsche Bank Aktiengesellschaft dropped 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. Robert W. Baird reduced their price objective on shares of Navitas Semiconductor from $12.00 to $7.00 and set an outperform rating on the stock in a research note on Friday, May 10th. Finally, Needham & Company LLC dropped their target price on shares of Navitas Semiconductor from $9.00 to $7.00 and set a buy rating for the company in a research report on Friday, May 10th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $7.41.

Navitas Semiconductor Price Performance

NVTS stock opened at $3.05 on Friday. Navitas Semiconductor has a fifty-two week low of $2.94 and a fifty-two week high of $10.10. The stock has a market capitalization of $558.46 million, a price-to-earnings ratio of -6.08 and a beta of 2.42. The business’s fifty day moving average price is $4.15 and its two-hundred day moving average price is $4.71.

Navitas Semiconductor (NASDAQ:NVTS) last released its quarterly earnings results on Monday, August 5th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). Navitas Semiconductor had a negative return on equity of 21.22% and a negative net margin of 97.75%. The business had revenue of $20.50 million for the quarter, compared to the consensus estimate of $20.01 million. During the same period in the prior year, the business posted ($0.12) earnings per share. Navitas Semiconductor’s revenue was up 13.3% compared to the same quarter last year. Research analysts expect that Navitas Semiconductor will post -0.53 EPS for the current year.

Insider Activity at Navitas Semiconductor

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

Hedge Funds Weigh In On Navitas Semiconductor

A number of institutional investors and hedge funds have recently bought and sold shares of NVTS. Tower Research Capital LLC TRC boosted its stake in shares of Navitas Semiconductor by 241.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,043 shares of the company’s stock valued at $57,000 after purchasing an additional 4,982 shares in the last quarter. Atria Wealth Solutions Inc. bought a new stake in Navitas Semiconductor during the 4th quarter worth approximately $81,000. Benjamin F. Edwards & Company Inc. increased its position in Navitas Semiconductor by 72.5% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 13,200 shares of the company’s stock valued at $63,000 after acquiring an additional 5,550 shares during the period. SG Americas Securities LLC acquired a new position in Navitas Semiconductor in the 1st quarter valued at approximately $65,000. Finally, Victory Capital Management Inc. raised its stake in shares of Navitas Semiconductor by 23.9% during the fourth quarter. Victory Capital Management Inc. now owns 15,842 shares of the company’s stock valued at $128,000 after acquiring an additional 3,052 shares during the last quarter. Institutional investors and hedge funds 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.