Navitas Semiconductor (NASDAQ:NVTS) Given New $5.00 Price Target at Robert W. Baird

Navitas Semiconductor (NASDAQ:NVTS) had its price objective reduced by Robert W. Baird from $7.00 to $5.00 in a report published on Tuesday, Benzinga reports. They currently have an outperform rating on the stock.

A number of other research analysts also recently weighed in on NVTS. Morgan Stanley cut their price objective on Navitas Semiconductor from $4.60 to $3.50 and set an “equal weight” rating on the stock in a research note on Tuesday, August 6th. Needham & Company LLC cut their price objective on Navitas Semiconductor from $7.00 to $5.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft cut their price objective on Navitas Semiconductor from $7.00 to $6.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Craig Hallum cut their price objective on Navitas Semiconductor from $7.50 to $6.50 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $7.50 price objective on shares of Navitas Semiconductor in a research note on Thursday, October 31st. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Navitas Semiconductor presently has an average rating of “Moderate Buy” and a consensus price target of $4.75.

Navitas Semiconductor Price Performance

Shares of Navitas Semiconductor stock opened at $2.36 on Tuesday. The firm has a market cap of $432.12 million, a price-to-earnings ratio of -8.43 and a beta of 2.36. Navitas Semiconductor has a 52-week low of $2.14 and a 52-week high of $8.44. The stock has a 50-day simple moving average of $2.51 and a 200-day simple moving average of $3.44.

Navitas Semiconductor (NASDAQ:NVTS) last announced its quarterly earnings results on Monday, November 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.06). The business had revenue of $21.68 million during the quarter, compared to analyst estimates of $21.93 million. Navitas Semiconductor had a negative return on equity of 22.29% and a negative net margin of 55.70%. The firm’s revenue was down 1.4% on a year-over-year basis. During the same period in the previous year, the company earned ($0.10) EPS. As a group, equities research analysts predict that Navitas Semiconductor will post -0.53 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director David Moxam sold 33,000 shares of the business’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 transaction of $103,290.00. Following the sale, the director now directly owns 867,848 shares in the company, valued at approximately $2,716,364.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director David Moxam sold 33,000 shares of the business’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 transaction of $103,290.00. Following the sale, the director now directly owns 867,848 shares in the company, valued at approximately $2,716,364.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Eugene Sheridan sold 453,190 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $3.03, for a total value of $1,373,165.70. Following 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 829,852 shares of company stock valued at $2,528,252 in the last three months. Company insiders own 31.80% of the company’s stock.

Institutional Trading of Navitas Semiconductor

Institutional investors have recently bought and sold shares of the stock. DRW Securities LLC acquired a new stake in Navitas Semiconductor in the 2nd quarter valued at $46,000. Wedbush Securities Inc. acquired a new stake in Navitas Semiconductor in the 2nd quarter valued at $49,000. Algert Global LLC acquired a new stake in Navitas Semiconductor in the 2nd quarter valued at $50,000. SG Americas Securities LLC acquired a new stake in Navitas Semiconductor in the 1st quarter valued at $65,000. Finally, Bleakley Financial Group LLC acquired a new stake in Navitas Semiconductor in the 3rd quarter valued at $41,000. Institutional investors and hedge funds own 46.14% of the company’s stock.

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.