Navitas Semiconductor (NASDAQ:NVTS) Rating Reiterated by Rosenblatt Securities

Rosenblatt Securities restated their buy rating on shares of Navitas Semiconductor (NASDAQ:NVTS) in a report published on Friday morning, Benzinga reports. The brokerage currently has a $12.00 price target on the stock.

A number of other equities analysts also recently weighed in on the stock. Needham & Company LLC cut their price target on shares of Navitas Semiconductor from $10.00 to $9.00 and set a buy rating on the stock in a research note on Friday, March 1st. Northland Securities started coverage on Navitas Semiconductor in a report on Tuesday, January 16th. They issued a market perform rating on the stock. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $9.82.

Navitas Semiconductor Price Performance

Shares of NASDAQ:NVTS traded up $0.31 during midday trading on Friday, reaching $4.65. The company’s stock had a trading volume of 2,701,436 shares, compared to its average volume of 2,355,059. The business has a 50 day moving average price of $4.67 and a 200 day moving average price of $5.97. Navitas Semiconductor has a 1 year low of $3.54 and a 1 year high of $11.16.

Navitas Semiconductor (NASDAQ:NVTS) last posted its quarterly earnings results on Thursday, February 29th. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.02. Navitas Semiconductor had a negative return on equity of 18.81% and a negative net margin of 183.04%. The company had revenue of $26.06 million during the quarter, compared to analysts’ expectations of $25.68 million. Equities research analysts forecast that Navitas Semiconductor will post -0.46 EPS for the current year.

Insiders Place Their Bets

In other Navitas Semiconductor news, CEO Eugene Sheridan sold 38,431 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $4.80, for a total value of $184,468.80. Following the transaction, the chief executive officer now directly owns 3,061,631 shares of the company’s stock, valued at $14,695,828.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, COO Daniel M. Kinzer sold 24,073 shares of the company’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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Eugene Sheridan sold 38,431 shares of Navitas Semiconductor stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $4.80, for a total transaction of $184,468.80. Following the sale, the chief executive officer now directly owns 3,061,631 shares in the company, valued at approximately $14,695,828.80. The disclosure for this sale can be found here. Insiders sold a total of 73,429 shares of company stock worth $352,459 over the last ninety days. 36.80% of the stock is owned by company insiders.

Institutional Trading of Navitas Semiconductor

Several large investors have recently modified their holdings of the business. Kodai Capital Management LP purchased a new position in Navitas Semiconductor in the fourth quarter valued at about $31,869,000. Intrinsic Edge Capital Management LLC raised its position in shares of Navitas Semiconductor by 91.6% in the 4th quarter. Intrinsic Edge Capital Management LLC now owns 2,717,692 shares of the company’s stock valued at $21,932,000 after purchasing an additional 1,299,524 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Navitas Semiconductor by 14.2% during the 3rd quarter. Vanguard Group Inc. now owns 8,572,707 shares of the company’s stock valued at $59,580,000 after buying an additional 1,064,010 shares during the last quarter. Masters Capital Management LLC grew its position in shares of Navitas Semiconductor by 55.3% during the fourth quarter. Masters Capital Management LLC now owns 1,700,000 shares of the company’s stock worth $13,719,000 after buying an additional 605,000 shares in the last quarter. Finally, Barclays PLC increased its stake in shares of Navitas Semiconductor by 898.2% in the third quarter. Barclays PLC now owns 391,238 shares of the company’s stock worth $2,720,000 after buying an additional 352,044 shares during the last quarter. 46.14% of the stock is currently owned by institutional investors and hedge funds.

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.