In yesterday’s Wall Street session, Navitas Semiconductor Corporation (NASDAQ:NVTS) shares traded at $9.95, down -8.13% from the previous session.
9 analysts cover Navitas Semiconductor Corporation (NASDAQ:NVTS), according to research data. The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $14.00 and a low of $8.00, we find $10.00. Given the previous closing price of $10.83, this indicates a potential downside of -7.66 percent. NVTS stock price is now 4.15% away from the 50-day moving average and 56.39% away from the 200-day moving average. The market capitalization of the company currently stands at $1.65B.
The stock has received a hold rating from 1 analysts and a buy rating from 7. Brokers who have rated the stock have averaged $10.38 as their price target over the next twelve months.
With the price target of $15, Rosenblatt recently initiated with Buy rating for Navitas Semiconductor Corporation (NASDAQ: NVTS).
In other news, Sheridan Eugene, President & CEO sold 24,358 shares of the company’s stock on Jul 06. The stock was sold for $245,285 at an average price of $10.07. Upon completion of the transaction, the President & CEO now directly owns 902,552 shares in the company, valued at $8.98 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jul 05, President & CEO Sheridan Eugene sold 32,050 shares of the business’s stock. A total of $342,294 was realized by selling the stock at an average price of $10.68. This leaves the insider owning 926,910 shares of the company worth $9.22 million. Insiders disposed of 20,007,697 shares of company stock worth roughly $199.08 million over the past 1 year. A total of 16.90% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in NVTS stock. A new stake in Navitas Semiconductor Corporation shares was purchased by MILLENNIUM MANAGEMENT LLC during the first quarter worth $12,423,000. PENN CAPITAL MANAGEMENT COMPANY, LLC invested $10,618,000 in shares of NVTS during the first quarter. In the first quarter, POINT72 ASSET MANAGEMENT, L.P. acquired a new stake in Navitas Semiconductor Corporation valued at approximately $8,881,000. CITADEL ADVISORS LLC acquired a new stake in NVTS for approximately $7,788,000. NEW YORK STATE COMMON RETIREMENT FUND purchased a new stake in NVTS valued at around $7,333,000 in the second quarter.
During the past 12 months, Navitas Semiconductor Corporation has had a low of $3.11 and a high of $11.16. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 5.50, and a quick ratio of 4.70. The fifty day moving average price for NVTS is $9.58 and a two-hundred day moving average price translates $6.39 for the stock.
According to the Semiconductors Company, earnings per share came in at -$0.07, beating analysts’ expectations of -$0.08 by 0.01. This compares to $0.61 EPS in the same period last year. The company reported revenue of $13.36 million for the quarter, compared to $6.74 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 98.19 percent. For the current quarter, analysts expect NVTS to generate $16.5M in revenue.
