Rosenblatt Securities Reiterates “Buy” Rating for Navitas Semiconductor (NASDAQ:NVTS)

Rosenblatt Securities reissued their buy rating on shares of Navitas Semiconductor (NASDAQ:NVTS) in a research report sent to investors on Friday, Benzinga reports. They currently have a $12.00 price target on the stock.

Other equities analysts have also recently issued reports about the stock. Needham & Company LLC dropped their price objective on shares of Navitas Semiconductor from $10.00 to $9.00 and set a buy rating for the company in a research note on Friday, March 1st. Northland Securities initiated coverage on Navitas Semiconductor in a report on Tuesday, January 16th. They issued a market perform rating for the company. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $9.82.

Navitas Semiconductor Trading Up 3.2 %

Shares of NASDAQ:NVTS traded up $0.15 during midday trading on Friday, hitting $4.80. The company had a trading volume of 1,620,507 shares, compared to its average volume of 2,845,444. The company has a fifty day moving average of $4.67 and a two-hundred day moving average of $5.97. Navitas Semiconductor has a 12-month low of $3.54 and a 12-month high of $11.16.

Navitas Semiconductor (NASDAQ:NVTS) last released its earnings results on Thursday, February 29th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.02. The company had revenue of $26.06 million during the quarter, compared to analyst estimates of $25.68 million. Navitas Semiconductor had a negative net margin of 183.04% and a negative return on equity of 18.81%. Sell-side analysts forecast that Navitas Semiconductor will post -0.46 EPS for the current year.

Insider Activity

In related news, COO Daniel M. Kinzer sold 24,073 shares of the firm’s 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 completion of the sale, the chief operating officer now directly owns 4,538,353 shares of the company’s stock, valued at approximately $21,784,094.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, COO Daniel M. Kinzer sold 24,073 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 $115,550.40. Following the completion of the sale, 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Eugene Sheridan sold 38,431 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $4.80, for a total value of $184,468.80. Following the completion of the transaction, the chief executive officer now directly owns 3,061,631 shares in the company, valued at approximately $14,695,828.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 73,429 shares of company stock valued at $352,459. 36.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in NVTS. Vanguard Group Inc. boosted its stake in shares of Navitas Semiconductor by 14.2% during the third quarter. Vanguard Group Inc. now owns 8,572,707 shares of the company’s stock valued at $59,580,000 after purchasing an additional 1,064,010 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. Intrinsic Edge Capital Management LLC increased its holdings in shares of Navitas Semiconductor by 91.6% in 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 acquiring an additional 1,299,524 shares during the period. Masters Capital Management LLC raised its position in shares of Navitas Semiconductor by 55.3% in the 4th quarter. Masters Capital Management LLC now owns 1,700,000 shares of the company’s stock worth $13,719,000 after acquiring an additional 605,000 shares in the last quarter. Finally, Penn Capital Management Company LLC lifted its stake in shares of Navitas Semiconductor by 9.0% during the 4th quarter. Penn Capital Management Company LLC now owns 1,360,204 shares of the company’s stock worth $10,992,000 after purchasing an additional 112,551 shares during the last quarter. 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.