Deutsche Bank Aktiengesellschaft Trims Navitas Semiconductor (NASDAQ:NVTS) Target Price to $7.00

Navitas Semiconductor (NASDAQ:NVTSFree Report) had its price target cut by Deutsche Bank Aktiengesellschaft from $9.00 to $7.00 in a research report report published on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts also recently weighed in on the company. Northland Securities started coverage on Navitas Semiconductor in a report on Tuesday, January 16th. They issued a market perform rating for the company. Rosenblatt Securities decreased their target price on shares of Navitas Semiconductor from $12.00 to $10.00 and set a buy rating for the company in a research report on Friday. Robert W. Baird cut their price target on shares of Navitas Semiconductor from $12.00 to $7.00 and set an outperform rating on the stock in a report on Friday. Finally, Needham & Company LLC decreased their target price on Navitas Semiconductor from $9.00 to $7.00 and set a buy rating for the company in a research report on Friday. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $7.41.

View Our Latest Stock Analysis on NVTS

Navitas Semiconductor Stock Down 3.9 %

NVTS traded down $0.16 during trading on Friday, hitting $3.94. The company had a trading volume of 3,417,175 shares, compared to its average volume of 2,856,452. The firm’s 50-day moving average price is $4.55 and its 200 day moving average price is $5.94. The company has a market capitalization of $706.25 million, a PE ratio of -7.90 and a beta of 2.52. Navitas Semiconductor has a one year low of $3.54 and a one year 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 for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.02. Navitas Semiconductor had a negative return on equity of 21.32% and a negative net margin of 97.75%. The firm had revenue of $26.06 million for the quarter, compared to the consensus estimate of $25.68 million. Sell-side analysts forecast that Navitas Semiconductor will post -0.46 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Ranbir Singh sold 10,925 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $4.80, for a total value of $52,440.00. Following the sale, the executive vice president now owns 29,357 shares in the company, valued at approximately $140,913.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Ranbir Singh sold 10,925 shares of the 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 sale, the executive vice president now directly owns 29,357 shares of the company’s stock, valued at $140,913.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Eugene Sheridan sold 38,431 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $4.80, for a total transaction of $184,468.80. Following the transaction, the chief executive officer now directly owns 3,061,631 shares of the company’s stock, valued at $14,695,828.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 73,429 shares of company stock worth $352,459. 36.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. grew its holdings in Navitas Semiconductor by 37.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 905,524 shares of the company’s stock valued at $6,293,000 after purchasing an additional 248,143 shares during the period. Federated Hermes Inc. increased its stake in shares of Navitas Semiconductor by 9,612.6% in the third quarter. Federated Hermes Inc. now owns 33,800 shares of the company’s stock worth $235,000 after purchasing an additional 33,452 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Navitas Semiconductor by 14.2% during the 3rd quarter. Vanguard Group Inc. now owns 8,572,707 shares of the company’s stock valued at $59,580,000 after purchasing an additional 1,064,010 shares during the period. Swiss National Bank lifted its stake in shares of Navitas Semiconductor by 16.6% during the 3rd quarter. Swiss National Bank now owns 265,400 shares of the company’s stock valued at $1,845,000 after buying an additional 37,700 shares in the last quarter. Finally, Graham Capital Management L.P. bought a new position in Navitas Semiconductor in the 3rd quarter worth $410,000. 46.14% of the stock is currently owned by institutional investors.

About Navitas Semiconductor

(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.

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