Navitas Semiconductor’s (NVTS) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Navitas Semiconductor (NASDAQ:NVTS) in a report released on Tuesday, Marketbeat.com reports. Needham & Company LLC currently has a $21.00 price target on the stock.

NVTS has been the subject of several other reports. Weiss Ratings raised Navitas Semiconductor from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, June 17th. Wall Street Zen upgraded Navitas Semiconductor from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Rosenblatt Securities boosted their target price on Navitas Semiconductor from $7.00 to $13.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Robert W. Baird upped their price target on Navitas Semiconductor from $9.00 to $20.00 and gave the stock an “outperform” rating in a research note on Monday, May 4th. Finally, Jefferies Financial Group set a $13.00 price target on Navitas Semiconductor in a research note on Tuesday. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $14.27.

Navitas Semiconductor Stock Performance

Shares of NASDAQ:NVTS opened at $11.01 on Tuesday. The company has a 50-day simple moving average of $19.11 and a 200-day simple moving average of $14.19. Navitas Semiconductor has a one year low of $5.44 and a one year high of $34.17. The stock has a market capitalization of $2.57 billion, a price-to-earnings ratio of -8.28 and a beta of 3.82.

Navitas Semiconductor (NASDAQ:NVTS) last announced its earnings results on Monday, July 27th. The company reported ($0.04) earnings per share for the quarter, hitting the consensus estimate of ($0.04). Navitas Semiconductor had a negative net margin of 856.85% and a negative return on equity of 13.13%. The business had revenue of $10.53 million during the quarter, compared to the consensus estimate of $9.97 million. During the same quarter in the prior year, the firm earned ($0.25) earnings per share. The business’s quarterly revenue was down 27.3% compared to the same quarter last year. As a group, research analysts forecast that Navitas Semiconductor will post -0.38 EPS for the current fiscal year.

Insider Activity at Navitas Semiconductor

In other news, Director Gary Kent Wunderlich, Jr. sold 35,165 shares of the company’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $28.14, for a total transaction of $989,543.10. Following the transaction, the director directly owned 2,375,060 shares of the company’s stock, valued at $66,834,188.40. This represents a 1.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Richard J. Hendrix sold 110,165 shares of the stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $28.96, for a total transaction of $3,190,378.40. Following the completion of the transaction, the director owned 101,709 shares of the company’s stock, valued at $2,945,492.64. This represents a 52.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 3,989,478 shares of company stock valued at $116,356,387 over the last 90 days. Company insiders own 12.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in NVTS. Invesco Ltd. increased 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 buying an additional 3,413,394 shares in the last quarter. Marex Group plc boosted its stake in shares of Navitas Semiconductor by 22,203.8% during 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 in the last quarter. Ghisallo Capital Management LLC purchased a new stake in shares of Navitas Semiconductor during the 4th quarter worth approximately $15,867,000. UBS Group AG grew its holdings in shares of Navitas Semiconductor by 131.0% in the 4th quarter. UBS Group AG now owns 3,307,036 shares of the company’s stock worth $23,612,000 after acquiring an additional 1,875,228 shares during the period. Finally, Jump Financial LLC acquired a new stake in shares of Navitas Semiconductor in the 3rd quarter worth approximately $11,243,000. 46.14% of the stock is currently 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.