Rosenblatt Securities Cuts Navitas Semiconductor (NASDAQ:NVTS) Price Target to $7.00

Navitas Semiconductor (NASDAQ:NVTS) had its price target trimmed by Rosenblatt Securities from $8.00 to $7.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have a neutral rating on the stock.

NVTS has been the topic of a number of other reports. Needham & Company LLC increased their price target on shares of Navitas Semiconductor from $8.00 to $13.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. Jefferies Financial Group raised shares of Navitas Semiconductor to a “hold” rating in a research note on Tuesday, October 28th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Navitas Semiconductor in a report on Thursday, January 22nd. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $6.32.

Navitas Semiconductor Stock Down 5.4%

NASDAQ NVTS opened at $9.00 on Wednesday. The stock’s 50-day simple moving average is $8.92 and its two-hundred day simple moving average is $8.66. Navitas Semiconductor has a twelve month low of $1.52 and a twelve month high of $17.79. The company has a market capitalization of $2.07 billion, a price-to-earnings ratio of -15.79 and a beta of 3.16.

Navitas Semiconductor (NASDAQ:NVTS) last announced its quarterly earnings data on Tuesday, February 24th. The company reported ($0.05) EPS for the quarter, meeting the consensus estimate of ($0.05). The firm had revenue of $7.30 million for the quarter, compared to analyst estimates of $6.95 million. Navitas Semiconductor had a negative return on equity of 15.27% and a negative net margin of 254.71%.The company’s revenue was down 59.4% on a year-over-year basis. During the same period in the prior year, the company earned ($0.06) EPS. On average, equities analysts expect that Navitas Semiconductor will post -0.51 earnings per share for the current fiscal year.

Insider Activity

In other Navitas Semiconductor news, CFO Todd Glickman sold 78,307 shares of the firm’s stock in a transaction on Monday, December 8th. The shares were sold at an average price of $9.77, for a total value of $765,059.39. Following the sale, the chief financial officer owned 813,279 shares of the company’s stock, valued at $7,945,735.83. This trade represents a 8.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Brian Long sold 48,165 shares of the business’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $8.50, for a total transaction of $409,402.50. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 1,837,194 shares of company stock valued at $15,589,829. Corporate insiders own 29.90% of the company’s stock.

Institutional Trading of Navitas Semiconductor

Several large investors have recently modified their holdings of the business. Nisa Investment Advisors LLC increased its holdings in Navitas Semiconductor by 121.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 11,614 shares of the company’s stock valued at $76,000 after purchasing an additional 6,377 shares during the period. Envestnet Asset Management Inc. purchased a new position in shares of Navitas Semiconductor during the second quarter valued at approximately $421,000. Arkadios Wealth Advisors bought a new position in shares of Navitas Semiconductor during the second quarter valued at approximately $74,000. Spire Wealth Management lifted its stake in Navitas Semiconductor by 1,480.0% in the second quarter. Spire Wealth Management now owns 15,800 shares of the company’s stock worth $103,000 after acquiring an additional 14,800 shares during the period. Finally, Kovack Advisors Inc. purchased a new stake in Navitas Semiconductor in the second quarter worth $102,000. 46.14% of the stock is owned by institutional investors.

Navitas Semiconductor Company Profile

Navitas Semiconductor is a fabless semiconductor company specialized in gallium nitride (GaN) power integrated circuits. The company’s core mission centers on delivering high-efficiency, high-power-density power solutions that address the needs of modern electronic devices, ranging from fast chargers for consumer electronics to industrial and automotive power systems.

Navitas offers a portfolio of GaNFast power ICs designed to replace traditional silicon-based power components. These products integrate GaN transistors, drivers and protection features into single-chip solutions, enabling faster charging, reduced energy loss and smaller power supply footprints.