Navitas Semiconductor Corporation (NASDAQ:NVTS) Given Consensus Recommendation of “Reduce” by Analysts

Shares of Navitas Semiconductor Corporation (NASDAQ:NVTS) have been given a consensus recommendation of “Reduce” by the eight analysts that are covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $6.78.

Several equities research analysts recently issued reports on NVTS shares. Rosenblatt Securities reduced their price objective on shares of Navitas Semiconductor from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Wednesday, February 25th. Weiss Ratings restated a “sell (d-)” rating on shares of Navitas Semiconductor in a report on Thursday, January 22nd.

Navitas Semiconductor Stock Down 8.5%

NASDAQ NVTS opened at $8.20 on Monday. The stock has a market capitalization of $1.89 billion, a PE ratio of -14.39 and a beta of 3.16. The company has a 50 day moving average price of $9.05 and a two-hundred day moving average price of $8.76. Navitas Semiconductor has a 12-month low of $1.52 and a 12-month high of $17.79.

Navitas Semiconductor (NASDAQ:NVTS) last announced its quarterly earnings results on Tuesday, February 24th. The company reported ($0.05) EPS for the quarter, hitting the consensus estimate of ($0.05). The company had revenue of $7.30 million for the quarter, compared to analyst estimates of $6.95 million. Navitas Semiconductor had a negative net margin of 254.71% and a negative return on equity of 14.52%. Navitas Semiconductor’s quarterly revenue was down 59.4% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.06) EPS. As a group, equities analysts anticipate that Navitas Semiconductor will post -0.51 EPS for the current year.

Insider Activity at Navitas Semiconductor

In related news, Director Ranbir Singh sold 389,096 shares of the business’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $9.52, for a total value of $3,704,193.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dipender Saluja sold 873,488 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $8.10, for a total value of $7,075,252.80. Following the sale, the director directly owned 4,755,536 shares of the company’s stock, valued at $38,519,841.60. The trade was a 15.52% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,957,402 shares of company stock worth $16,922,211 in the last 90 days. Insiders own 29.90% of the company’s stock.

Hedge Funds Weigh In On Navitas Semiconductor

A number of institutional investors have recently modified their holdings of the company. Allworth Financial LP lifted its stake in shares of Navitas Semiconductor by 309.4% in the third quarter. Allworth Financial LP now owns 3,570 shares of the company’s stock worth $26,000 after buying an additional 2,698 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in shares of Navitas Semiconductor by 189.8% during the 2nd quarter. NewEdge Advisors LLC now owns 4,492 shares of the company’s stock worth $29,000 after buying an additional 2,942 shares during the period. CWM LLC grew its stake in Navitas Semiconductor by 24.7% in the 3rd quarter. CWM LLC now owns 4,515 shares of the company’s stock valued at $33,000 after buying an additional 893 shares during the last quarter. GAMMA Investing LLC grew its stake in Navitas Semiconductor by 116.5% in the 4th quarter. GAMMA Investing LLC now owns 4,736 shares of the company’s stock valued at $34,000 after buying an additional 2,548 shares during the last quarter. Finally, Parkside Financial Bank & Trust raised its holdings in Navitas Semiconductor by 1,376.3% in the 3rd quarter. Parkside Financial Bank & Trust now owns 5,285 shares of the company’s stock worth $38,000 after acquiring an additional 4,927 shares during the period. Institutional investors own 46.14% of the company’s stock.

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.