Navitas Semiconductor Corporation (NASDAQ:NVTS) Receives $6.48 Consensus Target Price from Analysts

Navitas Semiconductor Corporation (NASDAQ:NVTS) has been given an average rating of “Hold” by the nine brokerages that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $6.4833.

A number of brokerages have recently issued reports on NVTS. Jefferies Financial Group raised Navitas Semiconductor to a “hold” rating in a research report on Tuesday, October 28th. Needham & Company LLC boosted their price objective on Navitas Semiconductor from $8.00 to $13.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. Rosenblatt Securities reiterated a “neutral” rating and issued a $8.00 target price on shares of Navitas Semiconductor in a report on Monday, November 10th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Navitas Semiconductor in a research report on Wednesday, October 8th.

Insider Activity at Navitas Semiconductor

In other news, Director Gary Kent Wunderlich, Jr. sold 49,651 shares of Navitas Semiconductor stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $9.31, for a total transaction of $462,250.81. Following the transaction, the director owned 86,964 shares in the company, valued at approximately $809,634.84. The trade was a 36.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Brian Long sold 48,165 shares of the stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $8.50, for a total value of $409,402.50. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 3,426,898 shares of company stock worth $29,360,063. Insiders own 29.90% of the company’s stock.

Institutional Trading of Navitas Semiconductor

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in Navitas Semiconductor by 23.6% during the third 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 in the last quarter. Jump Financial LLC purchased a new position in shares of Navitas Semiconductor during the 3rd quarter valued at $11,243,000. BNP Paribas Financial Markets grew its holdings in shares of Navitas Semiconductor by 1,332.3% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,604,538 shares of the company’s stock valued at $10,510,000 after acquiring an additional 1,492,512 shares in the last quarter. Invesco Ltd. increased its stake in shares of Navitas Semiconductor by 75.2% in the second quarter. Invesco Ltd. now owns 3,206,008 shares of the company’s stock worth $20,999,000 after acquiring an additional 1,376,205 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Navitas Semiconductor by 1,742.4% during the second quarter. JPMorgan Chase & Co. now owns 1,428,386 shares of the company’s stock worth $9,356,000 after acquiring an additional 1,350,857 shares in the last quarter. 46.14% of the stock is owned by hedge funds and other institutional investors.

Navitas Semiconductor Price Performance

NVTS stock opened at $10.00 on Friday. The firm has a market cap of $2.31 billion, a PE ratio of -15.63 and a beta of 3.16. Navitas Semiconductor has a 12 month low of $1.52 and a 12 month high of $17.79. The firm has a 50 day simple moving average of $8.49 and a 200 day simple moving average of $8.22.

Navitas Semiconductor (NASDAQ:NVTS) last posted its quarterly earnings results on Monday, November 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.05). Navitas Semiconductor had a negative net margin of 220.85% and a negative return on equity of 14.86%. The firm had revenue of $10.11 million for the quarter, compared to analyst estimates of $10.00 million. During the same quarter in the previous year, the business posted ($0.10) earnings per share. The firm’s quarterly revenue was down 53.4% compared to the same quarter last year. As a group, sell-side analysts expect that Navitas Semiconductor will post -0.51 earnings per share for the current year.

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.