Navitas Semiconductor (NASDAQ:NVTS) Stock Dropped to “Sell” by Wall Street Zen

by · The Cerbat Gem

Wall Street Zen downgraded shares of Navitas Semiconductor (NASDAQ:NVTS – Free Report) from a hold rating to a sell rating in a report released on Saturday morning,Wall Street Zen reports.

Several other brokerages have also issued reports on NVTS. Morgan Stanley restated an “underweight” rating and set a $12.60 target price on shares of Navitas Semiconductor in a research report on Tuesday, July 28th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Navitas Semiconductor in a report on Monday, September 14th. Rosenblatt Securities reissued a “neutral” rating and set a $13.00 price target on shares of Navitas Semiconductor in a research note on Tuesday, September 29th. Needham & Company LLC restated a “buy” rating and set a $21.00 price objective on shares of Navitas Semiconductor in a report on Tuesday, July 28th. Finally, Jefferies Financial Group set a $13.00 price objective on Navitas Semiconductor in a research report on Tuesday, July 28th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $15.92.

Read Our Latest Stock Analysis on Navitas Semiconductor

Navitas Semiconductor Trading Up 2.3%

Shares of NVTS opened at $12.40 on Friday. The company’s fifty day simple moving average is $12.04 and its 200-day simple moving average is $15.11. The company has a market cap of $3.24 billion, a P/E ratio of -9.32 and a beta of 3.96. Navitas Semiconductor has a twelve month low of $6.85 and a twelve month high of $34.17.

Navitas Semiconductor (NASDAQ:NVTS – Get Free Report) last released its quarterly earnings results on Monday, July 27th. The company reported ($0.04) EPS for the quarter, hitting analysts’ consensus estimates of ($0.04). Navitas Semiconductor had a negative net margin of 856.85% and a negative return on equity of 13.13%. The firm had revenue of $10.53 million during the quarter, compared to analysts’ expectations of $9.97 million. During the same period in the previous year, the company earned ($0.25) EPS. The firm’s revenue for the quarter was down 27.3% compared to the same quarter last year. Analysts predict that Navitas Semiconductor will post -0.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Navitas Semiconductor

Large investors have recently modified their holdings of the business. Tidal Investments LLC increased its holdings in Navitas Semiconductor by 161.2% during the second quarter. Tidal Investments LLC now owns 1,132,184 shares of the company’s stock valued at $20,289,000 after buying an additional 698,683 shares during the period. Engineers Gate Manager LP lifted its holdings in Navitas Semiconductor by 180.5% during the second quarter. Engineers Gate Manager LP now owns 117,293 shares of the company’s stock worth $2,102,000 after buying an additional 75,478 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in Navitas Semiconductor during the second quarter worth $121,000. Arizona State Retirement System boosted its position in Navitas Semiconductor by 22.4% during the 2nd quarter. Arizona State Retirement System now owns 57,314 shares of the company’s stock valued at $1,027,000 after acquiring an additional 10,486 shares in the last quarter. Finally, Nykredit A S bought a new stake in Navitas Semiconductor during the 2nd quarter valued at $130,000. Institutional investors own 46.14% of the company’s stock.

Navitas Semiconductor Company Profile

(Get Free Report)

Navitas Semiconductor Corporation is a fabless semiconductor company that develops power-management technologies based on gallium nitride (GaN) and silicon carbide (SiC). Its products are designed to improve the efficiency, power density and size of electronic power systems by integrating power semiconductors with control, drive and protection circuitry.

The company offers GaN power integrated circuits, SiC MOSFETs and related power-management solutions for applications including mobile and consumer chargers, data centers, solar and energy-storage systems, electric vehicles, industrial equipment and other high-power systems.

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