Navitas Semiconductor (NASDAQ:NVTS) Given New $4.25 Price Target at Craig Hallum

Navitas Semiconductor (NASDAQ:NVTS) had its price target decreased by Craig Hallum from $6.50 to $4.25 in a research note issued to investors on Tuesday, Benzinga reports. Craig Hallum currently has a buy rating on the stock.

Other equities analysts have also recently issued reports about the stock. 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. Deutsche Bank Aktiengesellschaft dropped 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. Robert W. Baird dropped their price objective on shares of Navitas Semiconductor from $7.00 to $5.00 and set an “outperform” rating for the company in a research note on Tuesday. Morgan Stanley dropped their price objective 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. Finally, Needham & Company LLC dropped their price objective 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. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Navitas Semiconductor presently has an average rating of “Moderate Buy” and an average price target of $4.75.

Navitas Semiconductor Stock Performance

NVTS opened at $2.36 on Tuesday. The stock has a market capitalization of $432.12 million, a price-to-earnings ratio of -8.43 and a beta of 2.36. The company has a fifty day moving average of $2.51 and a 200 day moving average of $3.44. Navitas Semiconductor has a fifty-two week low of $2.14 and a fifty-two week high of $8.44.

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

Insider Activity at Navitas Semiconductor

In related news, Director David Moxam sold 33,000 shares of Navitas Semiconductor stock in a transaction dated 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 trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, COO Daniel M. Kinzer sold 150,000 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $3.10, for a total value of $465,000.00. Following the completion of the sale, the chief operating officer now owns 4,388,353 shares in the company, valued at approximately $13,603,894.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director David Moxam sold 33,000 shares of Navitas Semiconductor 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 completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders sold 829,852 shares of company stock worth $2,528,252 in the last 90 days. 31.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Navitas Semiconductor by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 9,009,587 shares of the company’s stock worth $42,976,000 after buying an additional 232,496 shares during the last quarter. Kodai Capital Management LP grew its position in shares of Navitas Semiconductor by 14.3% in the 1st quarter. Kodai Capital Management LP now owns 4,514,576 shares of the company’s stock worth $21,535,000 after buying an additional 565,463 shares during the last quarter. Point72 Asset Management L.P. grew its position in Navitas Semiconductor by 2,656.2% during the 2nd quarter. Point72 Asset Management L.P. now owns 4,283,350 shares of the company’s stock worth $16,834,000 after purchasing an additional 4,127,940 shares during the last quarter. Masters Capital Management LLC grew its position in Navitas Semiconductor by 90.0% during the 2nd quarter. Masters Capital Management LLC now owns 1,900,000 shares of the company’s stock worth $7,467,000 after purchasing an additional 900,000 shares during the last quarter. Finally, Squarepoint Ops LLC purchased a new stake in Navitas Semiconductor during the 2nd quarter worth approximately $2,364,000. Hedge funds and other institutional investors own 46.14% of the company’s stock.

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.