Robert W. Baird Cuts Navitas Semiconductor (NASDAQ:NVTS) Price Target to $5.00

Navitas Semiconductor (NASDAQ:NVTS) had its price target trimmed by Robert W. Baird from $7.00 to $5.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an outperform rating on the stock.

NVTS has been the subject of several other reports. Rosenblatt Securities restated a “buy” rating and issued a $7.50 target price on shares of Navitas Semiconductor in a research note on Thursday, October 31st. Craig Hallum lowered their target price on shares of Navitas Semiconductor from $7.50 to $6.50 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Morgan Stanley lowered their target price on shares of Navitas Semiconductor from $4.60 to $3.50 and set an “equal weight” rating for the company in a research note on Tuesday, August 6th. Needham & Company LLC lowered their target price on shares of Navitas Semiconductor from $7.00 to $5.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Navitas Semiconductor from $7.00 to $6.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Three equities research 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, the company has a consensus rating of “Moderate Buy” and an average target price of $4.75.

Navitas Semiconductor Trading Down 4.3 %

Shares of NASDAQ:NVTS opened at $2.20 on Tuesday. The company has a market capitalization of $402.82 million, a price-to-earnings ratio of -5.24 and a beta of 2.36. The firm’s 50-day moving average is $2.48 and its 200 day moving average is $3.42. Navitas Semiconductor has a 12 month low of $2.14 and a 12 month high of $8.44.

Navitas Semiconductor (NASDAQ:NVTS) last issued its earnings results on Monday, November 4th. The company reported ($0.06) EPS for the quarter, hitting analysts’ consensus estimates of ($0.06). The business had revenue of $21.68 million for the quarter, compared to the consensus estimate of $21.93 million. Navitas Semiconductor had a negative net margin of 84.61% and a negative return on equity of 23.51%. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.10) EPS. As a group, equities analysts forecast that Navitas Semiconductor will post -0.53 EPS for the current fiscal year.

Insider Transactions at Navitas Semiconductor

In related news, CEO Eugene Sheridan sold 453,190 shares of the company’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 transaction of $1,373,165.70. Following the sale, the chief executive officer now directly owns 2,608,441 shares of the company’s stock, valued at $7,903,576.23. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director David Moxam sold 33,000 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $3.13, for a total transaction of $103,290.00. Following the completion of the sale, the director now owns 867,848 shares in the company, valued at $2,716,364.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Eugene Sheridan sold 453,190 shares of the firm’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $3.03, for a total transaction of $1,373,165.70. Following the completion of the sale, the chief executive officer now owns 2,608,441 shares of the company’s stock, valued at $7,903,576.23. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 829,852 shares of company stock worth $2,528,252. 31.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Navitas Semiconductor

Several hedge funds have recently added to or reduced their stakes in the business. ProShare Advisors LLC increased its holdings in Navitas Semiconductor by 12.5% during the 1st quarter. ProShare Advisors LLC now owns 20,348 shares of the company’s stock valued at $97,000 after acquiring an additional 2,258 shares in the last quarter. Ensign Peak Advisors Inc grew its holdings in shares of Navitas Semiconductor by 5.2% during the second quarter. Ensign Peak Advisors Inc now owns 77,245 shares of the company’s stock worth $304,000 after buying an additional 3,800 shares in the last quarter. Commonwealth Equity Services LLC grew its holdings in shares of Navitas Semiconductor by 5.4% during the second quarter. Commonwealth Equity Services LLC now owns 77,940 shares of the company’s stock worth $306,000 after buying an additional 4,000 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Navitas Semiconductor by 16.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 31,646 shares of the company’s stock worth $151,000 after buying an additional 4,533 shares in the last quarter. Finally, Swiss National Bank grew its holdings in shares of Navitas Semiconductor by 2.9% during the first quarter. Swiss National Bank now owns 246,700 shares of the company’s stock worth $1,177,000 after buying an additional 7,000 shares in the last quarter. 46.14% of the stock is currently owned by hedge funds and other institutional investors.

About Navitas Semiconductor

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.