Navitas Semiconductor (NASDAQ:NVTS) Shares Down 4.1%

Shares of Navitas Semiconductor Co. (NASDAQ:NVTSGet Free Report) fell 4.1% during trading on Wednesday . The stock traded as low as $4.46 and last traded at $4.46. 279,353 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 3,008,898 shares. The stock had previously closed at $4.65.

Analysts Set New Price Targets

Several research firms have commented on NVTS. Needham & Company LLC decreased their target price on shares of Navitas Semiconductor from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Friday, March 1st. Rosenblatt Securities reaffirmed a “buy” rating and set a $12.00 price target on shares of Navitas Semiconductor in a report on Friday, March 1st. Finally, Northland Securities began coverage on shares of Navitas Semiconductor in a report on Tuesday, January 16th. They set a “market perform” rating on the stock. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.82.

Get Our Latest Research Report on NVTS

Navitas Semiconductor Price Performance

The stock’s 50-day moving average price is $5.55 and its 200-day moving average price is $6.35.

Navitas Semiconductor (NASDAQ:NVTSGet Free Report) last issued its quarterly earnings results on Thursday, February 29th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.02. The firm had revenue of $26.06 million for the quarter, compared to the consensus estimate of $25.68 million. Navitas Semiconductor had a negative net margin of 183.04% and a negative return on equity of 18.81%. Equities research analysts forecast that Navitas Semiconductor Co. will post -0.46 earnings per share for the current fiscal year.

Insider Transactions at Navitas Semiconductor

In other news, COO Daniel M. Kinzer sold 24,073 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $4.80, for a total value of $115,550.40. Following the transaction, the chief operating officer now owns 4,538,353 shares in the company, valued at approximately $21,784,094.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO Daniel M. Kinzer sold 24,073 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $4.80, for a total transaction of $115,550.40. Following the transaction, the chief operating officer now owns 4,538,353 shares in the company, valued at approximately $21,784,094.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ranbir Singh sold 10,925 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $4.80, for a total transaction of $52,440.00. Following the transaction, the executive vice president now owns 29,357 shares in the company, valued at approximately $140,913.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 73,429 shares of company stock worth $352,459. Company insiders own 36.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Navitas Semiconductor by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 8,777,091 shares of the company’s stock valued at $70,831,000 after acquiring an additional 204,384 shares during the period. BlackRock Inc. increased its stake in Navitas Semiconductor by 374.4% during the 2nd quarter. BlackRock Inc. now owns 6,993,014 shares of the company’s stock valued at $73,706,000 after purchasing an additional 5,518,894 shares in the last quarter. State Street Corp increased its stake in Navitas Semiconductor by 111.1% during the 2nd quarter. State Street Corp now owns 5,337,289 shares of the company’s stock valued at $56,255,000 after purchasing an additional 2,808,415 shares in the last quarter. Kodai Capital Management LP bought a new stake in Navitas Semiconductor during the 4th quarter valued at $31,869,000. Finally, Intrinsic Edge Capital Management LLC increased its stake in Navitas Semiconductor by 91.6% during the 4th quarter. Intrinsic Edge Capital Management LLC now owns 2,717,692 shares of the company’s stock valued at $21,932,000 after purchasing an additional 1,299,524 shares in the last quarter. Institutional investors and hedge funds own 46.14% of the company’s stock.

About Navitas Semiconductor

(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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