Navitas Semiconductor’s (NVTS) “Buy” Rating Reaffirmed at Rosenblatt Securities

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

Other research analysts also recently issued reports about the stock. Northland Securities initiated coverage on shares of Navitas Semiconductor in a research report on Tuesday, January 16th. They set a market perform rating for the company. Needham & Company LLC decreased their price objective on Navitas Semiconductor from $10.00 to $9.00 and set a buy rating for the company in a report on Friday, March 1st. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $9.82.

Navitas Semiconductor Trading Up 7.1 %

Shares of NASDAQ:NVTS traded up $0.31 during trading on Friday, hitting $4.65. The stock had a trading volume of 2,701,436 shares, compared to its average volume of 2,355,059. Navitas Semiconductor has a 12-month low of $3.54 and a 12-month high of $11.16. The stock has a 50-day simple moving average of $4.67 and a two-hundred day simple moving average of $5.97.

Navitas Semiconductor (NASDAQ:NVTS) last issued its quarterly earnings results 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 183.04% and a negative return on equity of 18.81%. The company had revenue of $26.06 million for the quarter, compared to the consensus estimate of $25.68 million. Equities analysts predict that Navitas Semiconductor will post -0.46 EPS for the current year.

Insider Activity at Navitas Semiconductor

In related news, EVP Ranbir Singh sold 10,925 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $4.80, for a total value of $52,440.00. Following the completion of the transaction, the executive vice president now directly owns 29,357 shares of the company’s stock, valued at approximately $140,913.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, EVP Ranbir Singh sold 10,925 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now owns 29,357 shares of the company’s stock, valued at approximately $140,913.60. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Eugene Sheridan sold 38,431 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 3,061,631 shares in the company, valued at $14,695,828.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 73,429 shares of company stock worth $352,459. 36.80% of the stock is owned by company insiders.

Institutional Trading of Navitas Semiconductor

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. increased its position in Navitas Semiconductor by 37.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 905,524 shares of the company’s stock worth $6,293,000 after purchasing an additional 248,143 shares during the last quarter. Federated Hermes Inc. increased its holdings in shares of Navitas Semiconductor by 9,612.6% during the 3rd quarter. Federated Hermes Inc. now owns 33,800 shares of the company’s stock worth $235,000 after buying an additional 33,452 shares during the last quarter. Vanguard Group Inc. increased its holdings 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 worth $59,580,000 after buying an additional 1,064,010 shares during the last quarter. Swiss National Bank raised its position in shares of Navitas Semiconductor by 16.6% during the 3rd quarter. Swiss National Bank now owns 265,400 shares of the company’s stock valued at $1,845,000 after buying an additional 37,700 shares during the period. Finally, Graham Capital Management L.P. purchased a new position in Navitas Semiconductor in the third quarter worth approximately $410,000. 46.14% of the stock is owned by institutional investors and hedge funds.

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.