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

Navitas Semiconductor Corporation (NASDAQ:NVTS) has earned a consensus rating of “Hold” from the six brokerages that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $15.92.

NVTS has been the subject of several recent analyst reports. Weiss Ratings upgraded Navitas Semiconductor from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, June 17th. Jefferies Financial Group set a $13.00 price objective on Navitas Semiconductor in a research report on Tuesday, July 28th. Morgan Stanley reiterated an “underweight” rating and issued a $12.60 price objective on shares of Navitas Semiconductor in a report on Tuesday, July 28th. Needham & Company LLC restated a “buy” rating and set a $21.00 target price on shares of Navitas Semiconductor in a research note on Tuesday, July 28th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and set a $13.00 price target on shares of Navitas Semiconductor in a report on Tuesday, July 28th.

Navitas Semiconductor Price Performance

NASDAQ:NVTS opened at $11.80 on Monday. The stock has a market cap of $3.08 billion, a price-to-earnings ratio of -8.87 and a beta of 3.88. The company’s 50 day moving average price is $12.86 and its 200-day moving average price is $14.77. Navitas Semiconductor has a 52 week low of $5.44 and a 52 week high of $34.17.

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

Institutional Investors Weigh In On Navitas Semiconductor

A number of large investors have recently added to or reduced their stakes in NVTS. Allworth Financial LP lifted its holdings in shares of Navitas Semiconductor by 309.4% during the 3rd quarter. Allworth Financial LP now owns 3,570 shares of the company’s stock valued at $26,000 after buying an additional 2,698 shares during the period. Rakuten Securities Inc. bought a new stake in shares of Navitas Semiconductor in the second quarter worth $27,000. NewEdge Advisors LLC increased its position in Navitas Semiconductor by 189.8% during the second quarter. NewEdge Advisors LLC now owns 4,492 shares of the company’s stock valued at $29,000 after acquiring an additional 2,942 shares during the last quarter. Beaird Harris Wealth Management LLC increased its position in Navitas Semiconductor by 247.8% during the second quarter. Beaird Harris Wealth Management LLC now owns 1,739 shares of the company’s stock valued at $31,000 after acquiring an additional 1,239 shares during the last quarter. Finally, Geneos Wealth Management Inc. lifted its holdings in Navitas Semiconductor by 3,200.0% in the first quarter. Geneos Wealth Management Inc. now owns 4,125 shares of the company’s stock valued at $36,000 after acquiring an additional 4,000 shares during the period. Institutional investors own 46.14% of the company’s stock.

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.