Navitas Semiconductor Corporation (NASDAQ:NVTS) Receives $6.48 Average Price Target from Analysts

Navitas Semiconductor Corporation (NASDAQ:NVTS) has received an average recommendation of “Hold” from the nine analysts that are presently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $6.4833.

Several research firms have issued reports on NVTS. Weiss Ratings reiterated a “sell (d-)” rating on shares of Navitas Semiconductor in a research note on Wednesday, October 8th. Jefferies Financial Group raised shares of Navitas Semiconductor to a “hold” rating in a research report on Tuesday, October 28th. Needham & Company LLC increased their price target on Navitas Semiconductor from $8.00 to $13.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. Finally, Rosenblatt Securities restated a “neutral” rating and set a $8.00 price objective on shares of Navitas Semiconductor in a research note on Monday, November 10th.

Navitas Semiconductor Trading Down 9.4%

NVTS stock opened at $9.45 on Friday. The company has a market cap of $2.18 billion, a PE ratio of -14.77 and a beta of 3.16. The stock has a 50-day moving average price of $8.46 and a two-hundred day moving average price of $8.20. Navitas Semiconductor has a 12-month low of $1.52 and a 12-month high of $17.79.

Navitas Semiconductor (NASDAQ:NVTS) last released its quarterly earnings data on Monday, November 3rd. The company reported ($0.05) earnings per share for the quarter, meeting the consensus estimate of ($0.05). The business had revenue of $10.11 million for the quarter, compared to analyst estimates of $10.00 million. Navitas Semiconductor had a negative return on equity of 14.86% and a negative net margin of 220.85%.The company’s revenue was down 53.4% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.10) EPS. Equities analysts forecast that Navitas Semiconductor will post -0.51 EPS for the current fiscal year.

Insider Activity

In other news, Director Gary Kent Wunderlich, Jr. sold 78,649 shares of the business’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $9.25, for a total transaction of $727,503.25. Following the transaction, the director directly owned 136,615 shares of the company’s stock, valued at approximately $1,263,688.75. The trade was a 36.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ranbir Singh sold 179,354 shares of the company’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $8.68, for a total transaction of $1,556,792.72. Following the completion of the transaction, the director owned 389,096 shares of the company’s stock, valued at $3,377,353.28. This trade represents a 31.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 3,426,898 shares of company stock worth $29,360,063 in the last ninety days. 29.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Navitas Semiconductor

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Navitas Semiconductor by 23.6% in the third quarter. Vanguard Group Inc. now owns 13,360,648 shares of the company’s stock worth $96,464,000 after acquiring an additional 2,550,613 shares in the last quarter. Geode Capital Management LLC increased its holdings in Navitas Semiconductor by 3.9% during the 2nd quarter. Geode Capital Management LLC now owns 3,340,193 shares of the company’s stock worth $21,882,000 after purchasing an additional 124,594 shares during the last quarter. Invesco Ltd. raised its position in shares of Navitas Semiconductor by 75.2% in the 2nd quarter. Invesco Ltd. now owns 3,206,008 shares of the company’s stock valued at $20,999,000 after purchasing an additional 1,376,205 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Navitas Semiconductor by 90.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,048,943 shares of the company’s stock valued at $22,013,000 after buying an additional 1,444,405 shares during the last quarter. Finally, Jump Financial LLC purchased a new position in shares of Navitas Semiconductor during the 3rd quarter valued at approximately $11,243,000. 46.14% of the stock is owned by hedge funds and other institutional investors.

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.