Navitas Semiconductor (NVTS) – Investment Analysts’ Weekly Ratings Updates

by · The Cerbat Gem

Several analysts have recently updated their ratings and price targets for Navitas Semiconductor (NASDAQ: NVTS):

  • 11/5/2024 – Navitas Semiconductor had its price target lowered by analysts at Robert W. Baird from $7.00 to $5.00. They now have an “outperform” rating on the stock.
  • 11/5/2024 – Navitas Semiconductor had its price target lowered by analysts at Deutsche Bank Aktiengesellschaft from $6.00 to $4.00. They now have a “buy” rating on the stock.
  • 11/5/2024 – Navitas Semiconductor had its price target lowered by analysts at Craig Hallum from $6.50 to $4.25. They now have a “buy” rating on the stock.
  • 10/31/2024 – Navitas Semiconductor had its “buy” rating reaffirmed by analysts at Rosenblatt Securities. They now have a $7.50 price target on the stock.

Navitas Semiconductor Trading Down 4.0 %

Shares of NVTS traded down $0.07 during trading hours on Wednesday, reaching $1.81. 3,768,210 shares of the company traded hands, compared to its average volume of 2,700,500. The stock’s fifty day moving average price is $2.42 and its 200 day moving average price is $3.37. The firm has a market cap of $330.59 million, a price-to-earnings ratio of -4.30 and a beta of 2.36. Navitas Semiconductor Co. has a 12-month low of $1.79 and a 12-month high of $8.44.

Navitas Semiconductor (NASDAQ:NVTS – Get Free Report) last released its quarterly earnings data on Monday, November 4th. The company reported ($0.06) earnings per share for the quarter, meeting the consensus estimate of ($0.06). The firm had revenue of $21.68 million during the quarter, compared to the consensus estimate of $21.93 million. Navitas Semiconductor had a negative return on equity of 23.64% and a negative net margin of 84.61%. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period in the previous year, the company posted ($0.10) earnings per share. On average, research analysts forecast that Navitas Semiconductor Co. will post -0.51 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Eugene Sheridan sold 453,190 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 2,608,441 shares in the company, valued at $7,903,576.23. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Navitas Semiconductor news, Director David Moxam sold 33,000 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $3.13, for a total value of $103,290.00. Following the sale, the director now 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 document filed with the SEC, which is accessible through this link. Also, CEO Eugene Sheridan sold 453,190 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $3.03, for a total value of $1,373,165.70. Following the completion of the sale, the chief executive officer now owns 2,608,441 shares in the company, valued at approximately $7,903,576.23. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 829,852 shares of company stock worth $2,528,252. 31.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. FMR LLC raised its stake in shares of Navitas Semiconductor by 4,798.3% during the 3rd quarter. FMR LLC now owns 114,326 shares of the company’s stock worth $280,000 after buying an additional 111,992 shares during the period. Mirabella Financial Services LLP acquired a new position in shares of Navitas Semiconductor during the 3rd quarter worth approximately $943,000. Intech Investment Management LLC acquired a new position in shares of Navitas Semiconductor during the 3rd quarter worth approximately $79,000. GSA Capital Partners LLP acquired a new position in shares of Navitas Semiconductor during the 3rd quarter worth approximately $44,000. Finally, Bleakley Financial Group LLC acquired a new position in shares of Navitas Semiconductor during the 3rd quarter worth approximately $41,000. 46.14% of the stock is owned by institutional investors and hedge funds.

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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