Navitas Semiconductor (NASDAQ:NVTS) Earns “Hold” Rating from Jefferies Financial Group

Jefferies Financial Group restated their hold rating on shares of Navitas Semiconductor (NASDAQ:NVTS) in a research report report published on Monday, Marketbeat Ratings reports. The brokerage currently has a $4.00 price objective on the stock, down from their prior price objective of $10.00.

Other analysts also recently issued research reports about the stock. Robert W. Baird decreased their price objective on shares of Navitas Semiconductor from $12.00 to $7.00 and set an outperform rating for the company in a report on Friday, May 10th. Rosenblatt Securities decreased their price objective on shares of Navitas Semiconductor from $12.00 to $10.00 and set a buy rating for the company in a report on Friday, May 10th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Navitas Semiconductor from $9.00 to $7.00 and set a buy rating for the company in a report on Friday, May 10th. Northland Securities began coverage on shares of Navitas Semiconductor in a report on Tuesday, January 16th. They set a market perform rating for the company. Finally, Needham & Company LLC decreased their price objective on shares of Navitas Semiconductor from $9.00 to $7.00 and set a buy rating for the company in a report on Friday, May 10th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Navitas Semiconductor presently has an average rating of Moderate Buy and an average price target of $7.41.

Navitas Semiconductor Trading Down 0.7 %

NVTS opened at $3.97 on Monday. The company’s fifty day moving average price is $4.46 and its two-hundred day moving average price is $5.91. Navitas Semiconductor has a 1-year low of $3.54 and a 1-year high of $11.16. The company has a market cap of $711.62 million, a price-to-earnings ratio of -7.78 and a beta of 2.52.

Navitas Semiconductor (NASDAQ:NVTS) last released its quarterly earnings data on Thursday, February 29th. The company reported ($0.11) earnings per share 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 firm had revenue of $26.06 million for the quarter, compared to the consensus estimate of $25.68 million. As a group, equities analysts forecast that Navitas Semiconductor will post -0.46 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Navitas Semiconductor news, COO Daniel M. Kinzer sold 24,073 shares of the 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 completion of the transaction, the chief operating officer now owns 4,538,353 shares in the company, valued at $21,784,094.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Daniel M. Kinzer sold 24,073 shares of the firm’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 value of $115,550.40. Following the completion of the transaction, the chief operating officer now directly owns 4,538,353 shares in the company, valued at $21,784,094.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Ranbir Singh sold 10,925 shares of the firm’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 $52,440.00. Following the completion of the transaction, the executive vice president now owns 29,357 shares of the company’s stock, valued at $140,913.60. The disclosure for this sale can be found here. Insiders sold 73,429 shares of company stock worth $352,459 over the last quarter. 36.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Navitas Semiconductor

A number of large investors have recently modified their holdings of the company. State Board of Administration of Florida Retirement System boosted its position in shares of Navitas Semiconductor by 7.8% in the third quarter. State Board of Administration of Florida Retirement System now owns 31,230 shares of the company’s stock valued at $217,000 after acquiring an additional 2,250 shares during the period. ProShare Advisors LLC raised its stake in Navitas Semiconductor by 12.5% in the first quarter. ProShare Advisors LLC now owns 20,348 shares of the company’s stock valued at $97,000 after purchasing an additional 2,258 shares in the last quarter. Laidlaw Wealth Management LLC raised its stake in Navitas Semiconductor by 16.7% in the fourth quarter. Laidlaw Wealth Management LLC now owns 18,316 shares of the company’s stock valued at $148,000 after purchasing an additional 2,618 shares in the last quarter. Victory Capital Management Inc. raised its stake in Navitas Semiconductor by 23.9% in the fourth quarter. Victory Capital Management Inc. now owns 15,842 shares of the company’s stock valued at $128,000 after purchasing an additional 3,052 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in Navitas Semiconductor by 16.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 31,646 shares of the company’s stock valued at $151,000 after purchasing an additional 4,533 shares in the last quarter. 46.14% of the stock is currently owned by institutional investors.

Navitas Semiconductor Company Profile

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.