Shares of Navitas Semiconductor Corporation (NASDAQ:NVTS – Get Free Report) gapped up before the market opened on Monday. The stock had previously closed at $8.34, but opened at $8.84. Navitas Semiconductor shares last traded at $8.6540, with a volume of 2,296,547 shares traded.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on the stock. Rosenblatt Securities reissued a “neutral” rating and issued a $13.00 price target on shares of Navitas Semiconductor in a research note on Tuesday, September 29th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Navitas Semiconductor in a research report on Monday, September 14th. Morgan Stanley reaffirmed an “underweight” rating and set a $12.60 price objective on shares of Navitas Semiconductor in a research report on Tuesday, July 28th. Wall Street Zen downgraded shares of Navitas Semiconductor from a “hold” rating to a “sell” rating in a report on Saturday, October 3rd. Finally, Jefferies Financial Group set a $13.00 target price on Navitas Semiconductor in a research report on Tuesday, July 28th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $15.92.
Check Out Our Latest Stock Analysis on Navitas Semiconductor
Navitas Semiconductor Trading Up 1.3%
The company has a 50 day moving average of $11.63 and a 200-day moving average of $15.25.
Navitas Semiconductor (NASDAQ:NVTS – Get Free Report) last released its earnings results on Monday, July 27th. The company reported ($0.04) earnings per share for the quarter, meeting the consensus estimate of ($0.04). The company had revenue of $10.53 million during the quarter, compared to the consensus estimate of $9.97 million. Navitas Semiconductor had a negative return on equity of 13.13% and a negative net margin of 856.85%. Navitas Semiconductor’s revenue was down 27.3% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.25) EPS. Analysts forecast that Navitas Semiconductor Corporation will post -0.31 earnings per share for the current year.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the business. Vontobel Holding Ltd. raised its position in Navitas Semiconductor by 22.4% in the 3rd quarter. Vontobel Holding Ltd. now owns 17,362 shares of the company’s stock valued at $202,000 after purchasing an additional 3,177 shares in the last quarter. Fortitude Advisory Group L.L.C. boosted its stake in shares of Navitas Semiconductor by 20.0% in the 3rd quarter. Fortitude Advisory Group L.L.C. now owns 19,910 shares of the company’s stock valued at $231,000 after buying an additional 3,315 shares during the period. Lodestone Wealth Management LLC grew its position in shares of Navitas Semiconductor by 12.7% during the third quarter. Lodestone Wealth Management LLC now owns 18,772 shares of the company’s stock worth $218,000 after buying an additional 2,115 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Navitas Semiconductor by 23.6% during the third quarter. GAMMA Investing LLC now owns 7,117 shares of the company’s stock worth $83,000 after buying an additional 1,359 shares in the last quarter. Finally, Private Capital Advisors Inc. acquired a new position in shares of Navitas Semiconductor during the third quarter worth about $149,000. Institutional investors and hedge funds own 46.14% of the company’s stock.
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.
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