Navitas Semiconductor (NASDAQ:NVTS) Releases Quarterly Earnings Results, Meets Estimates

Navitas Semiconductor (NASDAQ:NVTS) announced its quarterly earnings data on Monday. The company reported ($0.04) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.04), FiscalAI reports. Navitas Semiconductor had a negative net margin of 330.67% and a negative return on equity of 14.30%. The business had revenue of $10.53 million for the quarter, compared to the consensus estimate of $9.97 million.

Navitas Semiconductor Stock Up 4.5%

Shares of NVTS traded up $0.49 during mid-day trading on Monday, hitting $11.41. The company had a trading volume of 20,531,733 shares, compared to its average volume of 26,833,395. Navitas Semiconductor has a 1-year low of $5.44 and a 1-year high of $34.17. The business’s 50-day simple moving average is $20.00 and its 200-day simple moving average is $14.18. The stock has a market cap of $2.67 billion, a PE ratio of -18.11 and a beta of 3.82.

Insider Activity at Navitas Semiconductor

In other Navitas Semiconductor news, Director Richard J. Hendrix sold 110,165 shares of Navitas Semiconductor stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $28.96, for a total value of $3,190,378.40. Following the transaction, the director owned 101,709 shares in the company, valued at $2,945,492.64. This trade represents a 52.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ranbir Singh sold 3,060,118 shares of Navitas Semiconductor stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $29.29, for a total transaction of $89,630,856.22. Following the completion of the transaction, the director owned 15,607,533 shares in the company, valued at approximately $457,144,641.57. This trade represents a 16.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 3,989,478 shares of company stock worth $116,356,387. 12.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Allworth Financial LP boosted its holdings in Navitas Semiconductor by 309.4% in the third 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 last quarter. NewEdge Advisors LLC grew its position in Navitas Semiconductor by 189.8% during the second 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. Newbridge Financial Services Group Inc. purchased a new stake in Navitas Semiconductor during the third quarter valued at about $63,000. Oxford Asset Management LLP acquired a new stake in Navitas Semiconductor during the second quarter worth about $75,000. Finally, Cerity Partners LLC acquired a new stake in Navitas Semiconductor during the second quarter worth about $76,000. 46.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NVTS has been the subject of several analyst reports. Needham & Company LLC boosted their price target on Navitas Semiconductor from $13.00 to $21.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Morgan Stanley restated an “underweight” rating and set a $13.70 price objective on shares of Navitas Semiconductor in a report on Wednesday, May 6th. Robert W. Baird lifted their price objective on Navitas Semiconductor from $9.00 to $20.00 and gave the company an “outperform” rating in a research report on Monday, May 4th. Rosenblatt Securities upped their target price on Navitas Semiconductor from $7.00 to $13.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Finally, Weiss Ratings upgraded Navitas Semiconductor from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, June 17th. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Navitas Semiconductor has an average rating of “Hold” and an average target price of $14.74.

Navitas Semiconductor Company Profile

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.