Craig Hallum Cuts Navitas Semiconductor (NASDAQ:NVTS) Price Target to $4.25

by · The Markets Daily

Navitas Semiconductor (NASDAQ:NVTS – Get Free Report) had its price target lowered by Craig Hallum from $6.50 to $4.25 in a report issued on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Craig Hallum’s price objective points to a potential upside of 80.85% from the company’s previous close.

NVTS has been the subject of several other reports. Rosenblatt Securities reissued a “buy” rating and set a $7.50 price objective on shares of Navitas Semiconductor in a report on Thursday, October 31st. Morgan Stanley decreased their price objective on Navitas Semiconductor from $4.60 to $3.50 and set an “equal weight” rating for the company in a report on Tuesday, August 6th. Robert W. Baird reduced their target price 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. Needham & Company LLC dropped their price target on shares of Navitas Semiconductor from $7.00 to $5.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Finally, Deutsche Bank Aktiengesellschaft reduced 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 investment 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, Navitas Semiconductor has a consensus rating of “Moderate Buy” and an average price target of $5.04.

Check Out Our Latest Stock Report on Navitas Semiconductor

Navitas Semiconductor Trading Down 10.0 %

NVTS stock opened at $2.35 on Tuesday. Navitas Semiconductor has a 1-year low of $2.14 and a 1-year high of $8.44. The stock has a market cap of $430.29 million, a P/E ratio of -8.39 and a beta of 2.36. The stock’s fifty day simple moving average is $2.52 and its two-hundred day simple moving average is $3.45.

Navitas Semiconductor (NASDAQ:NVTS – Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.06). The business had revenue of $21.68 million during the quarter, compared to the consensus estimate of $21.93 million. Navitas Semiconductor had a negative net margin of 55.70% and a negative return on equity of 22.29%. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter last year, the company posted ($0.10) earnings per share. As a group, analysts forecast that Navitas Semiconductor will post -0.53 earnings per share for the current fiscal year.

Insider Activity at Navitas Semiconductor

In other Navitas Semiconductor news, Director David Moxam sold 33,000 shares of the firm’s 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 directly owns 867,848 shares in the company, valued at approximately $2,716,364.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Navitas Semiconductor news, CEO Eugene Sheridan sold 193,662 shares of Navitas Semiconductor stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $3.03, for a total value of $586,795.86. Following the completion of the sale, the chief executive officer now owns 2,149,631 shares of the company’s stock, valued at approximately $6,513,381.93. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David Moxam sold 33,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $3.13, for a total value of $103,290.00. Following the completion of the transaction, the director now owns 867,848 shares in the company, valued at approximately $2,716,364.24. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 829,852 shares of company stock valued at $2,528,252 in the last three months. Company insiders own 31.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Bleakley Financial Group LLC bought a new position in shares of Navitas Semiconductor in the 3rd quarter worth approximately $41,000. GSA Capital Partners LLP bought a new position in Navitas Semiconductor in the third quarter worth approximately $44,000. DRW Securities LLC purchased a new position in shares of Navitas Semiconductor during the 2nd quarter worth $46,000. Wedbush Securities Inc. bought a new stake in shares of Navitas Semiconductor during the 2nd quarter valued at $49,000. Finally, Algert Global LLC purchased a new stake in shares of Navitas Semiconductor in the 2nd quarter worth $50,000. 46.14% of the stock is owned by hedge funds and other institutional investors.

Navitas Semiconductor Company Profile

(Get Free Report)

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.

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