Navitas Semiconductor (NASDAQ:NVTS) Stock Keeps Neutral Rating at Rosenblatt Securities

Navitas Semiconductor (NASDAQ:NVTS)‘s stock had its “neutral” rating restated by equities research analysts at Rosenblatt Securities in a research note issued to investors on Tuesday, Benzinga reports. They currently have a $13.00 price target on the stock. Rosenblatt Securities’ price objective suggests a potential upside of 9.58% from the company’s previous close.

Several other analysts also recently commented on the company. Morgan Stanley reaffirmed an “underweight” rating and set a $12.60 price objective on shares of Navitas Semiconductor in a research note on Tuesday, July 28th. Needham & Company LLC reaffirmed a “buy” rating and set a $21.00 price objective on shares of Navitas Semiconductor in a research note on Tuesday, July 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Navitas Semiconductor in a research note on Monday, September 14th. Finally, Jefferies Financial Group set a $13.00 price objective on Navitas Semiconductor in a research note on Tuesday, July 28th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $15.92.

Navitas Semiconductor Price Performance

Shares of NVTS stock traded up $0.13 during trading hours on Tuesday, reaching $11.86. The company had a trading volume of 16,213,428 shares, compared to its average volume of 23,512,498. The company has a 50 day moving average of $12.06 and a 200 day moving average of $15.10. The firm has a market cap of $3.10 billion, a price-to-earnings ratio of -8.93 and a beta of 3.88. Navitas Semiconductor has a 1-year low of $6.83 and a 1-year high of $34.17.

Navitas Semiconductor (NASDAQ:NVTS) last issued its quarterly earnings data on Monday, July 27th. The company reported ($0.04) EPS for the quarter, hitting the consensus estimate of ($0.04). The business had revenue of $10.53 million for the quarter, compared to the consensus estimate of $9.97 million. Navitas Semiconductor had a negative return on equity of 13.13% and a negative net margin of 856.85%.The firm’s revenue was down 27.3% compared to the same quarter last year. During the same quarter last year, the business posted ($0.25) EPS. As a group, sell-side analysts forecast that Navitas Semiconductor will post -0.31 EPS for the current fiscal year.

Hedge Funds Weigh In On Navitas Semiconductor

Large investors have recently added to or reduced their stakes in the company. Legal & General Group Plc bought a new position in shares of Navitas Semiconductor in the 2nd quarter valued at about $2,782,000. Jupiter Topco LLC bought a new position in shares of Navitas Semiconductor in the 2nd quarter valued at about $1,649,000. Tidal Investments LLC grew its holdings in shares of Navitas Semiconductor by 161.2% in the 2nd quarter. Tidal Investments LLC now owns 1,132,184 shares of the company’s stock valued at $20,289,000 after acquiring an additional 698,683 shares in the last quarter. Wellington Management Group LLP bought a new position in shares of Navitas Semiconductor in the 2nd quarter valued at about $16,757,000. Finally, Bank of New York Mellon Corp grew its holdings in shares of Navitas Semiconductor by 21.8% in the 1st quarter. Bank of New York Mellon Corp now owns 566,465 shares of the company’s stock valued at $4,968,000 after acquiring an additional 101,389 shares in the last quarter. Institutional investors own 46.14% of the company’s stock.

Key Navitas Semiconductor News

Here are the key news stories impacting Navitas Semiconductor this week:

• Positive Sentiment: The U.S. government selected Navitas for the ALATTIS program to develop next-generation 10 kV silicon carbide power semiconductors. The technology could support advanced defense and high-power applications, strengthening Navitas’ strategic position and expanding its relationship with the U.S. government. U.S. Government Selects Navitas to Develop Next-Generation 10 kV SiC Power Semiconductors
• Positive Sentiment: The Army-related award fueled continued investor momentum and helped drive reports of a sharp after-hours surge. Investors appear to view the program as evidence of demand for Navitas’ GeneSiC silicon carbide products and as a potential source of future commercial opportunities. Navitas Stock Extends Gains After Army Selects It for SiC Power Chip Development
• Neutral Sentiment: Rosenblatt Securities reaffirmed its Neutral rating while setting a $13.00 price target, implying approximately 10.8% potential upside from the referenced $11.73 price. The cautious rating suggests the firm sees opportunity but is not yet convinced that the government program changes Navitas’ broader earnings outlook. Rosenblatt Securities rating update

Navitas Semiconductor Company Profile

Navitas Semiconductor Corporation (NASDAQ: NVTS) develops gallium nitride (GaN) and silicon carbide (SiC) power semiconductor technologies. Its products are designed to improve the efficiency, power density and size of power-conversion systems used in electronic devices and infrastructure.

The company offers GaN power integrated circuits, including its GaNFast product family, as well as SiC devices and related technologies marketed under the GeneSiC brand. Its products are used in applications such as mobile and consumer chargers, data centers, solar and energy-storage systems, electric vehicles, appliances, industrial equipment and other high-power systems.

Founded in 2014, Navitas is headquartered in Torrance, California, and serves customers and markets internationally.