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

Navitas Semiconductor Corporation (NASDAQ:NVTS) has been given an average recommendation of “Hold” by the seven analysts that are covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and two have given a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $15.92.

Several brokerages recently commented on NVTS. Rosenblatt Securities reiterated a “neutral” rating and set a $13.00 target price on shares of Navitas Semiconductor in a report on Tuesday, July 28th. 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 report on Monday, May 4th. Wall Street Zen upgraded Navitas Semiconductor from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings upgraded Navitas Semiconductor from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, June 17th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $21.00 price target on shares of Navitas Semiconductor in a report on Tuesday, July 28th.

Insider Buying and Selling

In other Navitas Semiconductor news, Director Gary Kent Wunderlich, Jr. sold 73,000 shares of the company’s stock in a transaction dated 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 transaction, the director owned 13,964 shares in the company, valued at approximately $392,528.04. This represents a 83.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Richard J. Hendrix sold 110,165 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $28.96, for a total transaction of $3,190,378.40. Following the completion of the sale, the director directly owned 101,709 shares of the company’s stock, valued at approximately $2,945,492.64. This represents a 52.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 3,989,478 shares of company stock valued at $116,356,387. 12.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Navitas Semiconductor

Large investors have recently made changes to their positions in the business. Invesco Ltd. lifted its position in shares of Navitas Semiconductor by 257.8% in the 4th quarter. Invesco Ltd. now owns 4,737,624 shares of the company’s stock worth $33,827,000 after acquiring an additional 3,413,394 shares during the period. Marex Group plc lifted its holdings 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 during the period. Ghisallo Capital Management LLC acquired a new stake in Navitas Semiconductor in the 4th quarter valued at $15,867,000. UBS Group AG lifted its holdings in Navitas Semiconductor by 131.0% during the 4th 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 last quarter. Finally, Jump Financial LLC acquired a new stake in shares of Navitas Semiconductor in the third quarter valued at $11,243,000. Institutional investors and hedge funds own 46.14% of the company’s stock.

Navitas Semiconductor Stock Performance

NVTS opened at $12.35 on Thursday. Navitas Semiconductor has a 1 year low of $5.44 and a 1 year high of $34.17. The company’s 50 day simple moving average is $17.68 and its 200 day simple moving average is $14.24. The stock has a market capitalization of $3.22 billion, a PE ratio of -9.29 and a beta of 3.86.

Navitas Semiconductor (NASDAQ:NVTS) last posted its quarterly earnings results on Monday, July 27th. The company reported ($0.04) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.04). The company had revenue of $10.53 million for the quarter, compared to the consensus estimate of $9.97 million. Navitas Semiconductor had a negative net margin of 856.85% and a negative return on equity of 13.13%. Navitas Semiconductor’s revenue was down 27.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.25) earnings per share. As a group, sell-side analysts expect that Navitas Semiconductor will post -0.31 earnings per share for the current fiscal year.

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.