Navitas Semiconductor (NASDAQ:NVTS) Releases Earnings Results, Meets Estimates

Navitas Semiconductor (NASDAQ:NVTS) announced its quarterly earnings data on Monday. The company reported ($0.04) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.04), FiscalAI reports. Navitas Semiconductor had a negative return on equity of 14.30% and a negative net margin of 330.67%.The firm had revenue of $10.53 million for the quarter, compared to analyst estimates of $9.97 million.

Navitas Semiconductor Price Performance

NVTS traded up $0.49 during midday trading on Monday, reaching $11.41. 20,531,733 shares of the company’s stock were exchanged, compared to its average volume of 26,833,395. 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 $2.67 billion, a PE ratio of -18.11 and a beta of 3.82. The business’s 50-day moving average price is $20.00 and its 200 day moving average price is $14.18.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Robert W. Baird increased their price target on shares of Navitas Semiconductor from $9.00 to $20.00 and gave the company an “outperform” rating in a report on Monday, May 4th. Morgan Stanley restated an “underweight” rating and set a $13.70 target price on shares of Navitas Semiconductor in a research report on Wednesday, May 6th. Weiss Ratings upgraded shares of Navitas Semiconductor from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, June 17th. Rosenblatt Securities boosted their price target on Navitas Semiconductor from $7.00 to $13.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Finally, Wall Street Zen raised Navitas Semiconductor from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $14.74.

Insider Buying and Selling at Navitas Semiconductor

In other news, Director Richard J. Hendrix sold 110,165 shares of the stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $28.96, for a total value of $3,190,378.40. Following the sale, the director directly owned 101,709 shares in the company, valued at $2,945,492.64. This represents a 52.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Chris Allexandre sold 13,323 shares of Navitas Semiconductor 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 transaction, the chief executive officer owned 1,072,633 shares of the company’s stock, valued at $34,120,455.73. This represents a 1.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 3,989,478 shares of company stock valued at $116,356,387 over the last three months. Company insiders own 12.40% of the company’s stock.

Hedge Funds Weigh In On Navitas Semiconductor

A number of institutional investors have recently made changes to their positions in NVTS. Allworth Financial LP boosted its stake in shares of Navitas Semiconductor by 309.4% during the third quarter. Allworth Financial LP now owns 3,570 shares of the company’s stock valued at $26,000 after acquiring an additional 2,698 shares during the last quarter. NewEdge Advisors LLC raised its stake in Navitas Semiconductor by 189.8% in the 2nd quarter. NewEdge Advisors LLC now owns 4,492 shares of the company’s stock valued at $29,000 after purchasing an additional 2,942 shares during the last quarter. Newbridge Financial Services Group Inc. acquired a new position in Navitas Semiconductor in the 3rd quarter valued at about $63,000. Oxford Asset Management LLP purchased a new position in Navitas Semiconductor in the 2nd quarter valued at about $75,000. Finally, Cerity Partners LLC purchased a new position in Navitas Semiconductor in the 2nd quarter valued at about $76,000. 46.14% of the stock is owned by institutional investors and hedge funds.

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.