Navitas Semiconductor Co. (NASDAQ:NVTS) Receives $9.82 Consensus Target Price from Analysts

Shares of Navitas Semiconductor Co. (NASDAQ:NVTSGet Free Report) have been given an average recommendation of “Moderate Buy” by the six ratings firms that are covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $9.82.

A number of brokerages recently issued reports on NVTS. Rosenblatt Securities reiterated a “buy” rating and issued a $12.00 price target on shares of Navitas Semiconductor in a report on Friday, March 1st. Needham & Company LLC lowered their price target on Navitas Semiconductor from $10.00 to $9.00 and set a “buy” rating for the company in a report on Friday, March 1st. Finally, Northland Securities initiated coverage on Navitas Semiconductor in a report on Tuesday, January 16th. They set a “market perform” rating for the company.

Read Our Latest Stock Analysis on Navitas Semiconductor

Insiders Place Their Bets

In other Navitas Semiconductor news, CEO Eugene Sheridan sold 38,431 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $4.80, for a total transaction of $184,468.80. Following the completion of the sale, the chief executive officer now owns 3,061,631 shares in the company, valued at $14,695,828.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, EVP Ranbir Singh sold 10,925 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $4.80, for a total transaction of $52,440.00. Following the transaction, the executive vice president now directly owns 29,357 shares of the company’s stock, valued at $140,913.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Eugene Sheridan sold 38,431 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $4.80, for a total value of $184,468.80. Following the transaction, the chief executive officer now directly owns 3,061,631 shares in the company, valued at $14,695,828.80. The disclosure for this sale can be found here. Insiders sold a total of 73,429 shares of company stock worth $352,459 over the last 90 days. Company insiders own 36.80% of the company’s stock.

Hedge Funds Weigh In On Navitas Semiconductor

Several hedge funds have recently made changes to their positions in NVTS. BlackRock Inc. increased its position in shares of Navitas Semiconductor by 374.4% in the 2nd quarter. BlackRock Inc. now owns 6,993,014 shares of the company’s stock valued at $73,706,000 after acquiring an additional 5,518,894 shares during the period. State Street Corp increased its position in shares of Navitas Semiconductor by 1,768.8% in the 1st quarter. State Street Corp now owns 4,341,127 shares of the company’s stock valued at $44,627,000 after acquiring an additional 4,108,827 shares during the period. Kodai Capital Management LP acquired a new position in shares of Navitas Semiconductor in the 4th quarter valued at $31,869,000. Intrinsic Edge Capital Management LLC increased its position in shares of Navitas Semiconductor by 91.6% in the 4th quarter. Intrinsic Edge Capital Management LLC now owns 2,717,692 shares of the company’s stock valued at $21,932,000 after acquiring an additional 1,299,524 shares during the period. Finally, Penn Capital Management Company LLC acquired a new position in shares of Navitas Semiconductor in the 1st quarter valued at $7,796,000. 46.14% of the stock is owned by institutional investors and hedge funds.

Navitas Semiconductor Stock Performance

Shares of NASDAQ NVTS opened at $4.65 on Wednesday. The firm has a market capitalization of $833.51 million, a price-to-earnings ratio of -5.28 and a beta of 2.54. The stock has a 50 day moving average price of $5.55 and a 200 day moving average price of $6.35. Navitas Semiconductor has a 52-week low of $4.16 and a 52-week high of $11.16.

Navitas Semiconductor (NASDAQ:NVTSGet Free Report) last announced its quarterly earnings results on Thursday, February 29th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.02. The firm had revenue of $26.06 million during the quarter, compared to analyst estimates of $25.68 million. Navitas Semiconductor had a negative return on equity of 18.81% and a negative net margin of 183.04%. Analysts forecast that Navitas Semiconductor will post -0.46 earnings per share for the current year.

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.

Further Reading

Analyst Recommendations for Navitas Semiconductor (NASDAQ:NVTS)

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