Investment Analysts' Recent Ratings Changes for Navitas Semiconductor (NVTS) – Defense World
Posted by Defense World Staff on May 28th, 2024 
Several analysts have recently updated their ratings and price targets for Navitas Semiconductor (NASDAQ: NVTS):
Shares of NASDAQ NVTS opened at $3.70 on Tuesday. The firm’s 50-day moving average price is $4.27 and its two-hundred day moving average price is $5.80. Navitas Semiconductor Co. has a 52-week low of $3.54 and a 52-week high of $11.16. The stock has a market capitalization of $677.47 million, a P/E ratio of -7.25 and a beta of 2.52.
Navitas Semiconductor (NASDAQ:NVTS – Get Free Report) last posted its earnings results on Thursday, February 29th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.02. The company had revenue of $26.06 million for the quarter, compared to analysts’ expectations of $25.68 million. Navitas Semiconductor had a negative return on equity of 21.22% and a negative net margin of 97.75%. As a group, equities research analysts expect that Navitas Semiconductor Co. will post -0.53 earnings per share for the current year.
In other news, COO Daniel M. Kinzer sold 24,073 shares of Navitas Semiconductor 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 $115,550.40. Following the sale, the chief operating officer now owns 4,538,353 shares of the company’s stock, valued at $21,784,094.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, COO Daniel M. Kinzer sold 24,073 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 $115,550.40. Following the completion of the transaction, the chief operating officer now owns 4,538,353 shares of the company’s stock, valued at $21,784,094.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Eugene Sheridan sold 38,431 shares of Navitas Semiconductor stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $4.80, for a total transaction of $184,468.80. Following the sale, the chief executive officer now owns 3,061,631 shares in the company, valued at $14,695,828.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 73,429 shares of company stock worth $352,459. Insiders own 31.80% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Tower Research Capital LLC TRC lifted its position in Navitas Semiconductor by 241.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,043 shares of the company’s stock worth $57,000 after purchasing an additional 4,982 shares during the period. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Navitas Semiconductor by 72.5% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 13,200 shares of the company’s stock valued at $63,000 after buying an additional 5,550 shares during the period. SG Americas Securities LLC bought a new position in Navitas Semiconductor during the first quarter valued at about $65,000. Atria Wealth Solutions Inc. acquired a new position in Navitas Semiconductor during the fourth quarter worth about $81,000. Finally, ProShare Advisors LLC raised its position in Navitas Semiconductor by 12.5% in the first quarter. ProShare Advisors LLC now owns 20,348 shares of the company’s stock worth $97,000 after acquiring an additional 2,258 shares in the last quarter. 46.14% of the stock is currently owned by institutional investors.
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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