Navitas Semiconductor Corporation (NASDAQ:NVTS) Receives $12.87 Average Target Price from Analysts

Navitas Semiconductor Corporation (NASDAQ:NVTS) has earned an average rating of “Hold” from the nine analysts that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and two have issued a buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $12.8667.

A number of research analysts have recently issued reports on the stock. Needham & Company LLC boosted their price target on shares of Navitas Semiconductor from $13.00 to $21.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Wall Street Zen raised Navitas Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Navitas Semiconductor in a report on Tuesday, April 21st. Robert W. Baird raised their price target on Navitas Semiconductor from $9.00 to $20.00 and gave the company an “outperform” rating in a report on Monday, May 4th. Finally, Rosenblatt Securities raised their price target on Navitas Semiconductor from $7.00 to $13.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th.

Navitas Semiconductor Price Performance

Shares of NASDAQ NVTS opened at $26.60 on Friday. The stock has a fifty day moving average price of $15.81 and a 200 day moving average price of $11.26. Navitas Semiconductor has a 1-year low of $4.95 and a 1-year high of $33.82. The company has a market cap of $6.22 billion, a PE ratio of -42.22 and a beta of 3.62.

Navitas Semiconductor (NASDAQ:NVTS) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.01. Navitas Semiconductor had a negative return on equity of 14.30% and a negative net margin of 330.67%.The firm had revenue of $8.60 million during the quarter, compared to the consensus estimate of $8.22 million. During the same period last year, the company earned ($0.06) earnings per share. The company’s revenue for the quarter was down 38.7% on a year-over-year basis. Analysts anticipate that Navitas Semiconductor will post -0.39 earnings per share for the current fiscal year.

Insider Buying and Selling at Navitas Semiconductor

In other news, Director Richard J. Hendrix sold 110,165 shares of the company’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $28.96, for a total transaction of $3,190,378.40. Following the transaction, the director directly owned 101,709 shares of the company’s stock, valued at $2,945,492.64. This represents a 52.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Gary Kent Wunderlich, Jr. sold 73,000 shares of the company’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $28.11, for a total transaction of $2,052,030.00. Following the transaction, the director directly owned 13,964 shares in the company, valued at approximately $392,528.04. This trade represents a 83.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 4,096,866 shares of company stock worth $117,496,943. Company insiders own 12.40% of the company’s stock.

Institutional Investors Weigh In On Navitas Semiconductor

Hedge funds and other institutional investors have recently modified their holdings of the stock. Allworth Financial LP lifted its position in shares of Navitas Semiconductor by 309.4% during the 3rd quarter. Allworth Financial LP now owns 3,570 shares of the company’s stock valued at $26,000 after acquiring an additional 2,698 shares during the period. Geneos Wealth Management Inc. lifted its position in shares of Navitas Semiconductor by 3,200.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 4,125 shares of the company’s stock valued at $36,000 after acquiring an additional 4,000 shares during the period. NewEdge Advisors LLC lifted its position in shares of Navitas Semiconductor by 189.8% during the 2nd quarter. NewEdge Advisors LLC now owns 4,492 shares of the company’s stock valued at $29,000 after acquiring an additional 2,942 shares during the period. GAMMA Investing LLC lifted its position in shares of Navitas Semiconductor by 116.5% during the 4th quarter. GAMMA Investing LLC now owns 4,736 shares of the company’s stock valued at $34,000 after acquiring an additional 2,548 shares during the period. Finally, State of Wyoming grew its holdings in Navitas Semiconductor by 92.8% in the first quarter. State of Wyoming now owns 4,803 shares of the company’s stock valued at $42,000 after purchasing an additional 2,312 shares during the last quarter. 46.14% of the stock is currently owned by institutional investors and hedge funds.

About Navitas Semiconductor

Navitas Semiconductor is a fabless semiconductor company specialized in gallium nitride (GaN) power integrated circuits. The company’s core mission centers on delivering high-efficiency, high-power-density power solutions that address the needs of modern electronic devices, ranging from fast chargers for consumer electronics to industrial and automotive power systems.

Navitas offers a portfolio of GaNFast power ICs designed to replace traditional silicon-based power components. These products integrate GaN transistors, drivers and protection features into single-chip solutions, enabling faster charging, reduced energy loss and smaller power supply footprints.