Navitas Semiconductor Corporation (NASDAQ:NVTS – Get Free Report) shares reached a new 52-week high during mid-day trading on Monday . The company traded as high as $21.48 and last traded at $21.7590, with a volume of 10306617 shares. The stock had previously closed at $18.20.
Wall Street Analysts Forecast Growth
A number of research firms have issued reports on NVTS. Robert W. Baird increased their price objective on Navitas Semiconductor from $9.00 to $20.00 and gave the stock an “outperform” rating in a report on Monday, May 4th. Needham & Company LLC increased their price objective on Navitas Semiconductor from $13.00 to $21.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Rosenblatt Securities increased their price objective on Navitas Semiconductor from $7.00 to $13.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Wall Street Zen upgraded Navitas Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Morgan Stanley restated an “underweight” rating and set a $13.70 price target on shares of Navitas Semiconductor in a report on Wednesday. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $12.87.
View Our Latest Stock Report on NVTS
Navitas Semiconductor Price Performance
Navitas Semiconductor (NASDAQ:NVTS – Get Free Report) last announced its earnings results on Tuesday, May 5th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.01. The business had revenue of $8.60 million for the quarter, compared to analysts’ expectations of $8.22 million. Navitas Semiconductor had a negative return on equity of 14.30% and a negative net margin of 330.67%.The business’s revenue for the quarter was down 38.7% on a year-over-year basis. During the same period last year, the firm posted ($0.06) earnings per share. Equities analysts expect that Navitas Semiconductor Corporation will post -0.26 EPS for the current year.
Insiders Place Their Bets
In other Navitas Semiconductor news, CFO Todd Glickman sold 98,152 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $10.78, for a total value of $1,058,078.56. Following the transaction, the chief financial officer directly owned 735,231 shares of the company’s stock, valued at approximately $7,925,790.18. This trade represents a 11.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Chris Allexandre sold 9,236 shares of the firm’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $8.93, for a total value of $82,477.48. Following the completion of the transaction, the chief executive officer directly owned 813,323 shares in the company, valued at $7,262,974.39. The trade was a 1.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 509,016 shares of company stock valued at $4,967,814. Insiders own 29.90% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of NVTS. Vanguard Group Inc. lifted its position in shares of Navitas Semiconductor by 10.0% during the 4th quarter. Vanguard Group Inc. now owns 14,691,351 shares of the company’s stock valued at $104,896,000 after buying an additional 1,330,703 shares in the last quarter. State Street Corp lifted its position in shares of Navitas Semiconductor by 18.0% during the 4th quarter. State Street Corp now owns 8,597,950 shares of the company’s stock valued at $61,389,000 after buying an additional 1,308,626 shares in the last quarter. Invesco Ltd. lifted its position in shares of Navitas Semiconductor by 257.8% during the 4th quarter. Invesco Ltd. now owns 4,737,624 shares of the company’s stock valued at $33,827,000 after buying an additional 3,413,394 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Navitas Semiconductor by 12.8% during the 4th quarter. Geode Capital Management LLC now owns 4,417,408 shares of the company’s stock valued at $31,546,000 after buying an additional 501,110 shares in the last quarter. Finally, UBS Group AG lifted its position in shares of Navitas Semiconductor by 131.0% during the 4th quarter. UBS Group AG now owns 3,307,036 shares of the company’s stock valued at $23,612,000 after buying an additional 1,875,228 shares in the last quarter. 46.14% of the stock is owned by hedge funds and other institutional investors.
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.
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