Navitas Semiconductor Co. (NASDAQ:NVTS – Get Free Report)’s share price fell 3.9% on Monday after Deutsche Bank Aktiengesellschaft lowered their price target on the stock from $9.00 to $7.00. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock. Navitas Semiconductor traded as low as $3.88 and last traded at $3.94. 2,113,550 shares changed hands during trading, a decline of 26% from the average session volume of 2,844,626 shares. The stock had previously closed at $4.10.
Several other analysts have also issued reports on the stock. Needham & Company LLC lowered their price target on shares of Navitas Semiconductor from $9.00 to $7.00 and set a “buy” rating on the stock in a research report on Friday. Rosenblatt Securities decreased their target price on shares of Navitas Semiconductor from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Friday. Northland Securities started coverage on shares of Navitas Semiconductor in a report on Tuesday, January 16th. They set a “market perform” rating on the stock. Finally, Robert W. Baird decreased their target price on shares of Navitas Semiconductor from $12.00 to $7.00 and set an “outperform” rating on the stock in a report on Friday. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $7.41.
Insiders Place Their Bets
In other Navitas Semiconductor news, COO Daniel M. Kinzer sold 24,073 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $4.80, for a total value of $115,550.40. Following the sale, the chief operating officer now owns 4,538,353 shares of the company’s stock, valued at approximately $21,784,094.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Eugene Sheridan sold 38,431 shares of Navitas Semiconductor stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $4.80, for a total transaction of $184,468.80. Following the sale, the chief executive officer now owns 3,061,631 shares of the company’s stock, valued at approximately $14,695,828.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Daniel M. Kinzer sold 24,073 shares of Navitas Semiconductor stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $4.80, for a total transaction of $115,550.40. Following the sale, the chief operating officer now directly owns 4,538,353 shares in the company, valued at approximately $21,784,094.40. The disclosure for this sale can be found here. Insiders have sold a total of 73,429 shares of company stock valued at $352,459 in the last quarter. Insiders own 36.80% of the company’s stock.
Institutional Investors Weigh In On Navitas Semiconductor
A number of large investors have recently modified their holdings of NVTS. Tower Research Capital LLC TRC boosted its stake in shares of Navitas Semiconductor by 241.7% during the 4th 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. Benjamin F. Edwards & Company Inc. boosted its stake in Navitas Semiconductor by 72.5% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 13,200 shares of the company’s stock worth $63,000 after acquiring an additional 5,550 shares in the last quarter. SG Americas Securities LLC bought a new stake in Navitas Semiconductor during the first quarter worth about $65,000. Atria Wealth Solutions Inc. bought a new stake in Navitas Semiconductor during the fourth quarter worth about $81,000. Finally, Mackenzie Financial Corp bought a new stake in Navitas Semiconductor during the third quarter worth about $87,000. Institutional investors own 46.14% of the company’s stock.
Navitas Semiconductor Price Performance
The firm’s 50 day moving average is $4.51 and its 200 day moving average is $5.93. The firm has a market cap of $711.62 million, a P/E ratio of -7.78 and a beta of 2.52.
Navitas Semiconductor (NASDAQ:NVTS – Get Free Report) last posted its quarterly earnings data on Thursday, February 29th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.02. Navitas Semiconductor had a negative net margin of 97.75% and a negative return on equity of 21.32%. The business had revenue of $26.06 million for the quarter, compared to analyst estimates of $25.68 million. As a group, analysts expect that Navitas Semiconductor Co. will post -0.46 EPS for the current year.
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.