Shares of Navitas Semiconductor Corporation (NASDAQ:NVTS – Get Free Report) reached a new 52-week high on Wednesday . The stock traded as high as $33.82 and last traded at $31.79, with a volume of 49926138 shares. The stock had previously closed at $29.25.
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on NVTS. Needham & Company LLC upped their price objective on shares of Navitas Semiconductor from $13.00 to $21.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Robert W. Baird boosted 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. Rosenblatt Securities upped their target price on Navitas Semiconductor from $7.00 to $13.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Morgan Stanley reiterated an “underweight” rating and issued a $13.70 price objective on shares of Navitas Semiconductor in a research note on Wednesday, May 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Navitas Semiconductor in a report on Tuesday, April 21st. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $12.87.
Read Our Latest Analysis on NVTS
Navitas Semiconductor Trading Down 1.3%
Navitas Semiconductor (NASDAQ:NVTS – Get Free Report) last announced its quarterly earnings data 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 the consensus estimate of $8.22 million. Navitas Semiconductor had a negative net margin of 330.67% and a negative return on equity of 14.30%. Navitas Semiconductor’s quarterly revenue was down 38.7% on a year-over-year basis. During the same quarter last year, the company posted ($0.06) earnings per share. On average, equities research analysts anticipate that Navitas Semiconductor Corporation will post -0.39 EPS for the current year.
Insider Transactions at Navitas Semiconductor
In other Navitas Semiconductor news, CEO Chris Allexandre sold 9,236 shares of Navitas Semiconductor stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $8.93, for a total transaction of $82,477.48. Following the completion of the transaction, the chief executive officer directly owned 813,323 shares of the company’s stock, valued at approximately $7,262,974.39. This trade represents a 1.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Todd Glickman sold 98,152 shares of Navitas Semiconductor stock in a transaction on Tuesday, March 17th. The shares were 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. The trade was a 11.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 12.40% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Navitas Semiconductor
Several hedge funds and other institutional investors have recently added to or reduced their stakes in NVTS. Invesco Ltd. increased its position in Navitas Semiconductor by 257.8% in the 4th quarter. Invesco Ltd. now owns 4,737,624 shares of the company’s stock valued at $33,827,000 after acquiring an additional 3,413,394 shares in the last quarter. Marex Group plc boosted its stake in Navitas Semiconductor by 22,203.8% during the 4th quarter. Marex Group plc now owns 2,675,113 shares of the company’s stock worth $19,100,000 after acquiring an additional 2,663,119 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Navitas Semiconductor by 23.6% in the 3rd quarter. Vanguard Group Inc. now owns 13,360,648 shares of the company’s stock valued at $96,464,000 after purchasing an additional 2,550,613 shares during the period. Ghisallo Capital Management LLC acquired a new position in shares of Navitas Semiconductor in the 4th quarter valued at approximately $15,867,000. Finally, UBS Group AG grew its position in shares of Navitas Semiconductor by 131.0% in the 4th quarter. UBS Group AG now owns 3,307,036 shares of the company’s stock valued at $23,612,000 after purchasing an additional 1,875,228 shares during the period. Institutional investors and hedge funds own 46.14% of the company’s stock.
About Navitas Semiconductor
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.
See Also
- Five stocks we like better than Navitas Semiconductor
- 3 Stocks Rallying on Micron’s Price Boost: Substance or Hype?
- Snowflake and the Snowballing Impact of its AI Flywheel
- AI’s Biggest Bottleneck Could Make These 2 Stocks Soar
- These 3 Beaten-Down Stocks Just Saw $25 Million in Insider Buying
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.
