Navitas Semiconductor Corporation (NASDAQ:NVTS) Given Average Recommendation of “Reduce” by Analysts

Navitas Semiconductor Corporation (NASDAQ:NVTS) has been assigned a consensus recommendation of “Reduce” from the eight analysts that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, five have given a hold recommendation and one has given a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $6.78.

A number of equities research analysts have issued reports on the company. Rosenblatt Securities reiterated a “neutral” rating and issued a $7.00 price target on shares of Navitas Semiconductor in a research note on Thursday, March 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Navitas Semiconductor in a research note on Thursday, January 22nd.

Navitas Semiconductor Price Performance

NVTS opened at $8.80 on Friday. The firm has a market cap of $2.03 billion, a P/E ratio of -15.44 and a beta of 3.15. Navitas Semiconductor has a 1-year low of $1.52 and a 1-year high of $17.79. The company has a 50 day simple moving average of $8.95 and a two-hundred day simple moving average of $9.15.

Navitas Semiconductor (NASDAQ:NVTS) last announced its quarterly earnings data on Tuesday, February 24th. The company reported ($0.05) EPS for the quarter, meeting the consensus estimate of ($0.05). Navitas Semiconductor had a negative net margin of 254.71% and a negative return on equity of 14.52%. The firm had revenue of $7.30 million for the quarter, compared to the consensus estimate of $6.95 million. During the same period last year, the firm earned ($0.06) EPS. The company’s revenue was down 59.4% on a year-over-year basis. Equities analysts anticipate that Navitas Semiconductor will post -0.51 earnings per share for the current year.

Insiders Place Their Bets

In other Navitas Semiconductor news, Director Ranbir Singh sold 389,096 shares of the stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $9.52, for a total transaction of $3,704,193.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Todd Glickman sold 98,152 shares of Navitas Semiconductor stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $10.78, for a total transaction of $1,058,078.56. Following the sale, the chief financial officer owned 735,231 shares in the company, valued at approximately $7,925,790.18. The trade was a 11.78% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 509,016 shares of company stock worth $4,967,814 in the last three months. 29.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Allworth Financial LP increased its holdings in shares of Navitas Semiconductor by 309.4% in the third quarter. Allworth Financial LP now owns 3,570 shares of the company’s stock worth $26,000 after purchasing an additional 2,698 shares during the last quarter. NewEdge Advisors LLC boosted its stake 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 buying an additional 2,942 shares during the last quarter. CWM LLC grew its holdings in Navitas Semiconductor by 24.7% during the 3rd quarter. CWM LLC now owns 4,515 shares of the company’s stock valued at $33,000 after buying an additional 893 shares in the last quarter. GAMMA Investing LLC increased its stake in Navitas Semiconductor by 116.5% in the 4th quarter. GAMMA Investing LLC now owns 4,736 shares of the company’s stock worth $34,000 after acquiring an additional 2,548 shares during the last quarter. Finally, Parkside Financial Bank & Trust increased its stake in Navitas Semiconductor by 1,376.3% in the 3rd quarter. Parkside Financial Bank & Trust now owns 5,285 shares of the company’s stock worth $38,000 after acquiring an additional 4,927 shares during the last quarter. Institutional investors own 46.14% of the company’s stock.

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.