Navitas Semiconductor (NASDAQ:NVTS – Get Free Report) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.
NVTS has been the subject of several other reports. Morgan Stanley reiterated an “underweight” rating and set a $12.60 price objective on shares of Navitas Semiconductor in a research note on Tuesday, July 28th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Navitas Semiconductor in a research report on Monday, September 14th. Rosenblatt Securities upgraded shares of Navitas Semiconductor from a “neutral” rating to a “buy” rating and set a $13.00 price target on the stock in a research note on Wednesday. Jefferies Financial Group set a $13.00 target price on shares of Navitas Semiconductor in a report on Tuesday, July 28th. Finally, Needham & Company LLC cut their price target on shares of Navitas Semiconductor from $21.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday. Four research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $14.43.
View Our Latest Stock Report on NVTS
Navitas Semiconductor Price Performance
Shares of NVTS opened at $8.61 on Friday. Navitas Semiconductor has a 12 month low of $6.85 and a 12 month high of $34.17. The stock’s 50 day moving average is $10.49 and its two-hundred day moving average is $13.21.
Navitas Semiconductor (NASDAQ:NVTS – Get Free Report) last issued its earnings results on Tuesday, November 3rd. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. Navitas Semiconductor had a negative return on equity of 13.13% and a negative net margin of 856.85%. The firm had revenue of $13.99 million for the quarter, compared to the consensus estimate of $13.42 million. During the same quarter in the previous year, the company posted ($0.05) earnings per share. The business’s quarterly revenue was up 38.4% compared to the same quarter last year. On average, analysts forecast that Navitas Semiconductor will post -0.31 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Navitas Semiconductor
Several hedge funds have recently modified their holdings of NVTS. Legal & General Group Plc bought a new position in shares of Navitas Semiconductor during the second quarter valued at $2,782,000. Jupiter Topco LLC bought a new stake in shares of Navitas Semiconductor in the 2nd quarter worth approximately $1,649,000. Wellington Management Group LLP purchased a new position in Navitas Semiconductor in the second quarter valued at about $16,757,000. Tidal Investments LLC boosted its stake in Navitas Semiconductor by 161.2% during the 2nd quarter. Tidal Investments LLC now owns 1,132,184 shares of the company’s stock worth $20,289,000 after acquiring an additional 698,683 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Navitas Semiconductor by 21.8% in the 1st quarter. Bank of New York Mellon Corp now owns 566,465 shares of the company’s stock valued at $4,968,000 after buying an additional 101,389 shares during the period. Institutional investors 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.
Further Reading
- Five stocks we like better than Navitas Semiconductor
- Q3 Earnings Have Investors Wondering: Is Mercado Libre Finally a Buy?
- CVS Raised Its Outlook and Announced a Breakup—So Why Did the Stock Drop?
- Array and Shoals Are Merging: Who Really Wins the All-Stock Solar Deal?
- Duolingo’s User Growth Is Outpacing Bookings, But Is Its Strategy Paying Off?
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.
