Navitas Semiconductor Corporation (NASDAQ:NVTS) Receives Consensus Recommendation of “Hold” from Brokerages

Navitas Semiconductor Corporation (NASDAQ:NVTS) has received an average recommendation of “Hold” from the eight ratings firms that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $14.74.

A number of brokerages recently commented on NVTS. Wall Street Zen upgraded Navitas Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Morgan Stanley reiterated an “underweight” rating and set a $13.70 price target on shares of Navitas Semiconductor in a report on Wednesday, May 6th. Weiss Ratings lowered Navitas Semiconductor from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 2nd. Rosenblatt Securities lifted their price target on Navitas Semiconductor from $7.00 to $13.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Finally, Robert W. Baird lifted their price target on Navitas Semiconductor from $9.00 to $20.00 and gave the stock an “outperform” rating in a report on Monday, May 4th.

Insiders Place Their Bets

In related news, Director Gary Kent Wunderlich, Jr. sold 35,165 shares of Navitas Semiconductor stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $28.14, for a total transaction of $989,543.10. Following the sale, the director directly owned 2,375,060 shares in the company, valued at approximately $66,834,188.40. This trade represents a 1.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Richard J. Hendrix sold 110,165 shares of Navitas Semiconductor stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $28.96, for a total value of $3,190,378.40. Following the sale, the director owned 101,709 shares in the company, valued at $2,945,492.64. This trade represents a 52.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 3,989,478 shares of company stock valued at $116,356,387. 12.40% of the stock is owned by insiders.

Institutional Trading of Navitas Semiconductor

A number of hedge funds have recently bought and sold shares of NVTS. Vanguard Group Inc. increased its position in Navitas Semiconductor by 10.0% in the fourth quarter. Vanguard Group Inc. now owns 14,691,351 shares of the company’s stock worth $104,896,000 after buying an additional 1,330,703 shares during the last quarter. State Street Corp increased its position in Navitas Semiconductor by 18.0% in the fourth quarter. State Street Corp now owns 8,597,950 shares of the company’s stock worth $61,389,000 after buying an additional 1,308,626 shares during the last quarter. Invesco Ltd. increased its position in Navitas Semiconductor by 257.8% in the fourth quarter. Invesco Ltd. now owns 4,737,624 shares of the company’s stock worth $33,827,000 after buying an additional 3,413,394 shares during the last quarter. Geode Capital Management LLC increased its position in Navitas Semiconductor by 12.8% in the fourth quarter. Geode Capital Management LLC now owns 4,417,408 shares of the company’s stock worth $31,546,000 after buying an additional 501,110 shares during the last quarter. Finally, UBS Group AG increased its position in Navitas Semiconductor by 131.0% in the fourth quarter. UBS Group AG now owns 3,307,036 shares of the company’s stock worth $23,612,000 after buying an additional 1,875,228 shares during the last quarter. 46.14% of the stock is currently owned by institutional investors.

Navitas Semiconductor Stock Down 6.9%

NVTS stock opened at $22.09 on Wednesday. Navitas Semiconductor has a twelve month low of $5.44 and a twelve month high of $34.17. The stock’s 50 day moving average is $19.62 and its 200-day moving average is $12.68. The firm has a market capitalization of $5.16 billion, a PE ratio of -35.06 and a beta of 3.75.

Navitas Semiconductor (NASDAQ:NVTS) last posted its earnings results on Tuesday, May 5th. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $8.60 million for the quarter, compared to analyst estimates of $8.22 million. During the same quarter 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. On average, equities research analysts anticipate that Navitas Semiconductor will post -0.39 earnings per share for the current fiscal year.

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.