Navitas Semiconductor Corporation (NASDAQ:NVTS) Receives Consensus Rating of “Hold” from Analysts

Navitas Semiconductor Corporation (NASDAQ:NVTS) has been given a consensus recommendation of “Hold” by the nine research firms that are currently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $6.4833.

A number of research firms have weighed in on NVTS. Rosenblatt Securities reissued a “neutral” rating and issued a $8.00 target price on shares of Navitas Semiconductor in a research note on Monday, November 10th. Jefferies Financial Group upgraded Navitas Semiconductor to a “hold” rating in a report on Tuesday, October 28th. Needham & Company LLC raised their price objective on shares of Navitas Semiconductor from $8.00 to $13.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Navitas Semiconductor in a report on Thursday, January 22nd.

Navitas Semiconductor Price Performance

NASDAQ NVTS traded down $0.28 during mid-day trading on Thursday, hitting $8.48. The stock had a trading volume of 7,066,095 shares, compared to its average volume of 26,407,113. The firm’s 50 day moving average is $8.94 and its 200 day moving average is $8.56. The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of -13.24 and a beta of 3.16. Navitas Semiconductor has a twelve month low of $1.52 and a twelve month high of $17.79.

Insider Transactions at Navitas Semiconductor

In other Navitas Semiconductor news, Director Dipender Saluja sold 873,488 shares of the stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $8.10, for a total transaction of $7,075,252.80. Following the sale, the director directly owned 4,755,536 shares in the company, valued at $38,519,841.60. This represents a 15.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Gary Kent Wunderlich, Jr. sold 78,649 shares of the business’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $9.25, for a total transaction of $727,503.25. Following the completion of the transaction, the director owned 136,615 shares of the company’s stock, valued at approximately $1,263,688.75. This trade represents a 36.54% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 3,330,585 shares of company stock valued at $28,342,998. 29.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Kingsview Wealth Management LLC purchased a new stake in shares of Navitas Semiconductor in the second quarter valued at about $385,000. Cornerstone Investment Partners LLC acquired a new position in Navitas Semiconductor in the 2nd quarter valued at about $461,000. Geode Capital Management LLC raised its stake 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 valued at $21,882,000 after acquiring an additional 124,594 shares during the last quarter. Journey Strategic Wealth LLC purchased a new position in shares of Navitas Semiconductor in the 2nd quarter valued at approximately $229,000. Finally, Entropy Technologies LP purchased a new position in Navitas Semiconductor in the 2nd quarter valued at $759,000. Institutional investors and hedge funds own 46.14% of the company’s stock.

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.