Robert W. Baird Has Lowered Expectations for Navitas Semiconductor (NASDAQ:NVTS) Stock Price

Navitas Semiconductor (NASDAQ:NVTS) had its target price cut by Robert W. Baird from $7.00 to $5.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have an outperform rating on the stock.

Several other research firms also recently weighed in on NVTS. Craig Hallum reduced their price objective on shares of Navitas Semiconductor from $7.50 to $6.50 and set a “buy” rating for the company in a report on Tuesday, August 6th. Rosenblatt Securities reissued a “buy” rating and issued a $7.50 price target on shares of Navitas Semiconductor in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft cut their price target on shares of Navitas Semiconductor from $7.00 to $6.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Morgan Stanley cut their price target on shares of Navitas Semiconductor from $4.60 to $3.50 and set an “equal weight” rating for the company in a report on Tuesday, August 6th. Finally, Needham & Company LLC cut their price target on shares of Navitas Semiconductor from $7.00 to $5.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Navitas Semiconductor currently has an average rating of “Moderate Buy” and an average target price of $4.75.

Navitas Semiconductor Price Performance

NVTS stock opened at $2.20 on Tuesday. Navitas Semiconductor has a 1-year low of $2.14 and a 1-year high of $8.44. The firm has a fifty day moving average price of $2.48 and a two-hundred day moving average price of $3.42. The firm has a market cap of $402.82 million, a price-to-earnings ratio of -5.24 and a beta of 2.36.

Navitas Semiconductor (NASDAQ:NVTS) last released its quarterly earnings results on Monday, November 4th. The company reported ($0.06) EPS for the quarter, hitting the consensus estimate of ($0.06). The business had revenue of $21.68 million during the quarter, compared to analyst estimates 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 quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.10) earnings per share. As a group, analysts expect that Navitas Semiconductor will post -0.53 EPS for the current fiscal year.

Insider Activity at Navitas Semiconductor

In related news, CEO Eugene Sheridan sold 193,662 shares of Navitas Semiconductor stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $3.03, for a total value of $586,795.86. Following the completion of the transaction, the chief executive officer now directly owns 2,149,631 shares of the company’s stock, valued at $6,513,381.93. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Navitas Semiconductor news, CEO Eugene Sheridan sold 193,662 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $3.03, for a total transaction of $586,795.86. Following the completion of the sale, the chief executive officer now directly 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director David Moxam sold 33,000 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $3.13, for a total value of $103,290.00. Following the sale, the director now directly owns 867,848 shares of the company’s stock, valued at $2,716,364.24. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 829,852 shares of company stock valued at $2,528,252 over the last ninety days. 31.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Navitas Semiconductor

Several institutional investors have recently modified their holdings of the stock. ProShare Advisors LLC grew its position in shares of Navitas Semiconductor by 12.5% during the 1st quarter. ProShare Advisors LLC now owns 20,348 shares of the company’s stock worth $97,000 after buying an additional 2,258 shares during the period. Ensign Peak Advisors Inc grew its position in shares of Navitas Semiconductor by 5.2% during the 2nd 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 during the period. Commonwealth Equity Services LLC grew its position in shares of Navitas Semiconductor by 5.4% during the 2nd 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 during the period. Price T Rowe Associates Inc. MD grew its position in shares of Navitas Semiconductor by 16.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,646 shares of the company’s stock valued at $151,000 after purchasing an additional 4,533 shares during the period. Finally, Swiss National Bank grew its position in shares of Navitas Semiconductor by 2.9% in the 1st quarter. Swiss National Bank now owns 246,700 shares of the company’s stock valued at $1,177,000 after purchasing an additional 7,000 shares during the period. 46.14% of the stock is currently 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.