Navitas Semiconductor Corporation (NASDAQ:NVTS) Receives $15.92 Consensus Price Target from Brokerages

Navitas Semiconductor Corporation (NASDAQ:NVTS) has been assigned an average rating of “Hold” from the seven brokerages that are presently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $15.92.

Several equities research analysts have commented on the stock. Weiss Ratings upgraded shares of Navitas Semiconductor from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, June 17th. Needham & Company LLC reiterated a “buy” rating and issued a $21.00 price target on shares of Navitas Semiconductor in a report on Tuesday, July 28th. Wall Street Zen upgraded shares of Navitas Semiconductor from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Morgan Stanley reiterated an “underweight” rating and issued a $12.60 price objective 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 objective on shares of Navitas Semiconductor in a report on Tuesday, July 28th.

Navitas Semiconductor Price Performance

NVTS opened at $13.93 on Thursday. The business has a 50 day simple moving average of $16.28 and a 200-day simple moving average of $14.34. The stock has a market capitalization of $3.64 billion, a P/E ratio of -10.47 and a beta of 3.86. Navitas Semiconductor has a 12 month low of $5.44 and a 12 month high of $34.17.

Navitas Semiconductor (NASDAQ:NVTS) last announced its quarterly earnings data on Monday, July 27th. The company reported ($0.04) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.04). The firm had revenue of $10.53 million for the quarter, compared to analyst estimates 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 quarterly revenue was down 27.3% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.25) earnings per share. Research analysts anticipate that Navitas Semiconductor will post -0.31 EPS for the current year.

Insider Activity at Navitas Semiconductor

In related news, Director Richard J. Hendrix sold 110,165 shares of Navitas Semiconductor stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $28.96, for a total transaction of $3,190,378.40. Following the completion of the transaction, the director directly owned 101,709 shares of the company’s stock, valued at approximately $2,945,492.64. The trade was a 52.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Chris Allexandre sold 13,323 shares of the firm’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $31.81, for a total value of $423,804.63. Following the completion of the transaction, the chief executive officer owned 1,072,633 shares of the company’s stock, valued at approximately $34,120,455.73. This represents a 1.23% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 3,989,478 shares of company stock valued at $116,356,387 in the last 90 days. Insiders own 12.40% of the company’s stock.

Hedge Funds Weigh In On Navitas Semiconductor

Several hedge funds have recently added to or reduced their stakes in NVTS. American Century Companies Inc. lifted its holdings in shares of Navitas Semiconductor by 104.8% in the second quarter. American Century Companies Inc. now owns 241,450 shares of the company’s stock valued at $1,581,000 after purchasing an additional 123,577 shares in the last quarter. Prudential Financial Inc. purchased a new position in shares of Navitas Semiconductor during the 2nd quarter worth approximately $120,000. New York State Common Retirement Fund increased its stake in shares of Navitas Semiconductor by 102.7% during the 2nd quarter. New York State Common Retirement Fund now owns 40,255 shares of the company’s stock worth $264,000 after purchasing an additional 20,400 shares in the last quarter. Invesco Ltd. raised its position in shares of Navitas Semiconductor by 75.2% during the 2nd quarter. Invesco Ltd. now owns 3,206,008 shares of the company’s stock worth $20,999,000 after purchasing an additional 1,376,205 shares during the last quarter. Finally, Baird Financial Group Inc. raised its position in shares of Navitas Semiconductor by 2,514.3% during the 2nd quarter. Baird Financial Group Inc. now owns 419,237 shares of the company’s stock worth $2,746,000 after purchasing an additional 403,201 shares during the last quarter. 46.14% of the stock is currently owned by hedge funds and other institutional investors.

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.