Navitas Semiconductor Corporation (NASDAQ:NVTS) Given Average Recommendation of “Hold” by Analysts

Navitas Semiconductor Corporation (NASDAQ:NVTS) has received a consensus recommendation of “Hold” from the six research firms that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and two have given a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $15.92.

NVTS has been the topic of a number of analyst reports. Rosenblatt Securities restated a “neutral” rating and issued a $13.00 target price on shares of Navitas Semiconductor in a report on Tuesday, July 28th. Morgan Stanley reissued an “underweight” rating and set a $12.60 price objective on shares of Navitas Semiconductor in a report on Tuesday, July 28th. Weiss Ratings raised Navitas Semiconductor from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, June 17th. Jefferies Financial Group set a $13.00 target price on Navitas Semiconductor in a research note on Tuesday, July 28th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $21.00 price target on shares of Navitas Semiconductor in a research report on Tuesday, July 28th.

Navitas Semiconductor Stock Performance

Shares of NASDAQ NVTS opened at $11.49 on Monday. Navitas Semiconductor has a 1-year low of $5.44 and a 1-year high of $34.17. The business’s 50 day moving average is $13.69 and its 200-day moving average is $14.67. The firm has a market cap of $3.00 billion, a P/E ratio of -8.64 and a beta of 3.86.

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 the consensus estimate of ($0.04). Navitas Semiconductor had a negative return on equity of 13.13% and a negative net margin of 856.85%.The business had revenue of $10.53 million during the quarter, compared to the consensus estimate of $9.97 million. During the same period in the prior year, the company earned ($0.25) EPS. Navitas Semiconductor’s revenue for the quarter was down 27.3% on a year-over-year basis. Analysts forecast that Navitas Semiconductor will post -0.31 EPS for the current year.

Institutional Investors Weigh In On Navitas Semiconductor

Several institutional investors have recently added to or reduced their stakes in NVTS. BlackRock Inc. purchased a new position in shares of Navitas Semiconductor in the second quarter worth about $290,970,000. Vanguard Group Inc. lifted its stake 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 boosted its holdings in Navitas Semiconductor by 18.0% in the 4th quarter. State Street Corp now owns 8,597,950 shares of the company’s stock worth $61,389,000 after buying an additional 1,308,626 shares during the period. Invesco Ltd. boosted its holdings in Navitas Semiconductor by 257.8% in the 4th quarter. Invesco Ltd. now owns 4,737,624 shares of the company’s stock worth $33,827,000 after buying an additional 3,413,394 shares during the period. Finally, Geode Capital Management LLC grew its stake in Navitas Semiconductor by 12.8% in 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. 46.14% of the stock is 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.