Navitas Semiconductor Corporation (NASDAQ:NVTS) Receives $6.48 Consensus Price Target from Analysts

Navitas Semiconductor Corporation (NASDAQ:NVTS) has received an average recommendation of “Hold” from the nine brokerages that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $6.4833.

NVTS has been the subject of a number of recent analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Navitas Semiconductor in a research report on Wednesday, October 8th. Rosenblatt Securities reissued a “neutral” rating and issued a $8.00 price target on shares of Navitas Semiconductor in a report on Monday, November 10th. Jefferies Financial Group upgraded shares of Navitas Semiconductor to a “hold” rating in a report on Tuesday, October 28th. Finally, Needham & Company LLC lifted their target price on shares of Navitas Semiconductor from $8.00 to $13.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th.

Navitas Semiconductor Price Performance

Shares of NVTS stock traded up $0.91 during mid-day trading on Friday, hitting $10.91. 28,641,431 shares of the stock traded hands, compared to its average volume of 21,342,042. Navitas Semiconductor has a 52-week low of $1.52 and a 52-week high of $17.79. The stock has a market cap of $2.51 billion, a P/E ratio of -17.05 and a beta of 3.16. The stock’s fifty day moving average is $8.55 and its two-hundred day moving average is $8.27.

Navitas Semiconductor (NASDAQ:NVTS) last posted its quarterly earnings data on Monday, November 3rd. The company reported ($0.05) EPS for the quarter, hitting the consensus estimate of ($0.05). Navitas Semiconductor had a negative net margin of 220.85% and a negative return on equity of 14.86%. The firm had revenue of $10.11 million during the quarter, compared to analyst estimates of $10.00 million. During the same quarter in the previous year, the business posted ($0.10) EPS. Navitas Semiconductor’s revenue was down 53.4% on a year-over-year basis. As a group, equities analysts forecast that Navitas Semiconductor will post -0.51 EPS for the current fiscal year.

Insider Activity

In related news, Director Brian Long sold 48,165 shares of the company’s stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $8.50, for a total value of $409,402.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Ranbir Singh sold 179,354 shares of Navitas Semiconductor stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $8.68, for a total value of $1,556,792.72. Following the sale, the director directly owned 389,096 shares of the company’s stock, valued at approximately $3,377,353.28. This represents a 31.55% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 3,426,898 shares of company stock valued at $29,360,063. 29.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Navitas Semiconductor

Hedge funds and other institutional investors have recently bought and sold shares of the business. Cranbrook Wealth Management LLC purchased a new stake in shares of Navitas Semiconductor in the 2nd quarter valued at $25,000. Allworth Financial LP boosted its holdings in Navitas Semiconductor by 309.4% in the third quarter. Allworth Financial LP now owns 3,570 shares of the company’s stock valued at $26,000 after purchasing an additional 2,698 shares during the last quarter. NewEdge Advisors LLC grew its position in Navitas Semiconductor by 189.8% during the 2nd quarter. NewEdge Advisors LLC now owns 4,492 shares of the company’s stock worth $29,000 after purchasing an additional 2,942 shares during the period. ST Germain D J Co. Inc. purchased a new position in shares of Navitas Semiconductor during the 2nd quarter valued at about $33,000. Finally, CWM LLC lifted its holdings in shares of Navitas Semiconductor by 24.7% in the 3rd quarter. CWM LLC now owns 4,515 shares of the company’s stock valued at $33,000 after buying an additional 893 shares during the period. Institutional investors and hedge funds 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.