Navitas Semiconductor Corporation (NASDAQ:NVTS) Receives Average Rating of “Hold” from Brokerages

Navitas Semiconductor Corporation (NASDAQ:NVTS) has been given a consensus rating of “Hold” by the eight analysts that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $14.74.

NVTS has been the subject of a number of research analyst reports. Morgan Stanley reissued an “underweight” rating and issued a $13.70 target price on shares of Navitas Semiconductor in a research report on Wednesday, May 6th. Robert W. Baird increased their price target on shares of Navitas Semiconductor from $9.00 to $20.00 and gave the stock an “outperform” rating in a research note on Monday, May 4th. Needham & Company LLC raised their price objective on shares of Navitas Semiconductor from $13.00 to $21.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Weiss Ratings raised Navitas Semiconductor from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, June 17th. Finally, Rosenblatt Securities boosted their price target on shares of Navitas Semiconductor from $7.00 to $13.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th.

Insiders Place Their Bets

In other news, CEO Chris Allexandre sold 13,323 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $31.81, for a total value of $423,804.63. Following the completion of the sale, the chief executive officer directly owned 1,072,633 shares of the company’s stock, valued at $34,120,455.73. This trade represents a 1.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gary Kent Wunderlich, Jr. sold 73,000 shares of Navitas Semiconductor stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $28.11, for a total value of $2,052,030.00. Following the completion of the sale, the director owned 13,964 shares in the company, valued at approximately $392,528.04. This trade represents a 83.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 3,989,478 shares of company stock valued at $116,356,387. Corporate insiders own 12.40% of the company’s stock.

Institutional Investors Weigh In On Navitas Semiconductor

Several institutional investors have recently modified their holdings of NVTS. Invesco Ltd. grew its holdings in Navitas Semiconductor by 257.8% in the fourth quarter. Invesco Ltd. now owns 4,737,624 shares of the company’s stock valued at $33,827,000 after purchasing an additional 3,413,394 shares during the last quarter. Marex Group plc grew its stake in Navitas Semiconductor by 22,203.8% in the 4th quarter. Marex Group plc now owns 2,675,113 shares of the company’s stock worth $19,100,000 after acquiring an additional 2,663,119 shares during the period. Ghisallo Capital Management LLC purchased a new position in shares of Navitas Semiconductor during the 4th quarter worth $15,867,000. UBS Group AG grew its position in shares of Navitas Semiconductor by 131.0% in the fourth quarter. UBS Group AG now owns 3,307,036 shares of the company’s stock valued at $23,612,000 after purchasing an additional 1,875,228 shares during the period. Finally, Jump Financial LLC purchased a new stake in Navitas Semiconductor in the 3rd quarter valued at about $11,243,000. Hedge funds and other institutional investors own 46.14% of the company’s stock.

Navitas Semiconductor Stock Down 5.0%

NVTS traded down $0.71 on Friday, reaching $13.47. The company had a trading volume of 11,088,405 shares, compared to its average volume of 20,085,114. Navitas Semiconductor has a 1 year low of $5.44 and a 1 year high of $34.17. The stock has a market capitalization of $3.15 billion, a PE ratio of -21.38 and a beta of 3.82. The stock has a 50-day moving average price of $21.38 and a 200-day moving average price of $13.81.

Navitas Semiconductor (NASDAQ:NVTS) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate 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 posted ($0.06) earnings per share. The business’s quarterly revenue was down 38.7% compared to the same quarter last year. As a group, analysts expect 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.