Navitas Semiconductor Corporation (NASDAQ:NVTS – Get Free Report) has earned an average rating of “Hold” from the six brokerages that are currently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, two have given a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $15.92.
Several research firms recently issued reports on NVTS. Jefferies Financial Group set a $13.00 target price on Navitas Semiconductor in a research note on Tuesday, July 28th. Wall Street Zen downgraded Navitas Semiconductor from a “hold” rating to a “sell” rating in a research report on Saturday, October 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Navitas Semiconductor in a research note on Monday, September 14th. Morgan Stanley reiterated an “underweight” rating and set a $12.60 price target on shares of Navitas Semiconductor in a research note on Tuesday, July 28th. Finally, Rosenblatt Securities reissued a “neutral” rating and set a $13.00 price target on shares of Navitas Semiconductor in a research report on Tuesday, September 29th.
Get Our Latest Research Report on NVTS
Navitas Semiconductor Stock Performance
NASDAQ:NVTS opened at $8.63 on Tuesday. Navitas Semiconductor has a fifty-two week low of $6.85 and a fifty-two week high of $34.17. The company has a 50 day moving average price of $11.73 and a 200 day moving average price of $15.25. The stock has a market capitalization of $2.25 billion, a P/E ratio of -6.49 and a beta of 3.96.
Navitas Semiconductor (NASDAQ:NVTS – Get Free Report) last issued its quarterly earnings data on Monday, July 27th. The company reported ($0.04) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.04). The business had revenue of $10.53 million during the quarter, compared to analysts’ expectations of $9.97 million. Navitas Semiconductor had a negative return on equity of 13.13% and a negative net margin of 856.85%. The company’s revenue was down 27.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.25) earnings per share. Research analysts forecast that Navitas Semiconductor will post -0.31 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Navitas Semiconductor
A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in Navitas Semiconductor during the second quarter worth approximately $290,970,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Navitas Semiconductor in the 2nd quarter valued at about $75,701,000. Tidal Investments LLC raised its holdings in Navitas Semiconductor by 161.2% during the second quarter. Tidal Investments LLC now owns 1,132,184 shares of the company’s stock worth $20,289,000 after purchasing an additional 698,683 shares during the last quarter. Wellington Management Group LLP acquired a new stake in shares of Navitas Semiconductor in the second quarter valued at approximately $16,757,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Navitas Semiconductor during the 2nd quarter worth about $9,116,000. 46.14% of the stock is currently owned by institutional investors and hedge funds.
About Navitas Semiconductor
Navitas Semiconductor Corporation (NASDAQ:NVTS) develops power semiconductor technologies designed to improve the efficiency, performance and size of electronic systems. The company specializes in gallium nitride (GaN) power integrated circuits and silicon carbide (SiC) devices, which are used to convert and manage electrical power.
Its product portfolio includes GaNFast power ICs, GeneSiC silicon carbide products and related power-management solutions. These technologies are used in applications such as mobile and consumer chargers, data centers, solar inverters, electric vehicles, energy storage systems, appliances and industrial equipment.
Founded in 2014, Navitas serves customers and markets globally through its semiconductor products and engineering support.
See Also
- Five stocks we like better than Navitas Semiconductor
- Amprius Technologies’ Next Big Rally Could Be Taking Shape
- 4 Stocks With Demand So Sticky That the AI Sell-Off Barely Touched Them at All
- Tesla’s Roadster Reveal Hints at 2 Much Bigger Moves
- The AI Sell-Off Continues—These 3 Stocks Keep Raising Guidance Anyway
Receive News & Ratings for Navitas Semiconductor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Navitas Semiconductor and related companies with MarketBeat.com's FREE daily email newsletter.
