Rosenblatt Securities Reaffirms Neutral Rating for Navitas Semiconductor (NASDAQ:NVTS)

Navitas Semiconductor (NASDAQ:NVTS)‘s stock had its “neutral” rating restated by Rosenblatt Securities in a research report issued on Tuesday, Benzinga reports. They presently have a $13.00 price target on the stock. Rosenblatt Securities’ price target suggests a potential upside of 10.83% from the company’s previous close.

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

Navitas Semiconductor Stock Down 3.9%

Shares of Navitas Semiconductor stock opened at $11.73 on Tuesday. The firm has a market cap of $3.06 billion, a price-to-earnings ratio of -8.82 and a beta of 3.88. Navitas Semiconductor has a 52-week low of $6.79 and a 52-week high of $34.17. The company’s 50-day simple moving average is $12.06 and its 200-day simple moving average is $15.10.

Navitas Semiconductor (NASDAQ:NVTS) last announced its quarterly earnings data on Monday, July 27th. The company reported ($0.04) EPS for the quarter, meeting analysts’ consensus estimates of ($0.04). Navitas Semiconductor had a negative net margin of 856.85% and a negative return on equity of 13.13%. The firm had revenue of $10.53 million during the quarter, compared to the consensus estimate of $9.97 million. During the same quarter last year, the firm earned ($0.25) earnings per share. The firm’s revenue was down 27.3% compared to the same quarter last year. Equities research analysts anticipate that Navitas Semiconductor will post -0.31 EPS for the current year.

Institutional Investors Weigh In On Navitas Semiconductor

Several institutional investors have recently modified their holdings of NVTS. Legal & General Group Plc acquired a new stake in shares of Navitas Semiconductor in the 2nd quarter worth approximately $2,782,000. Jupiter Topco LLC acquired a new position in Navitas Semiconductor during the second quarter worth $1,649,000. Tidal Investments LLC raised its holdings in Navitas Semiconductor by 161.2% during the second quarter. Tidal Investments LLC now owns 1,132,184 shares of the company’s stock worth $20,289,000 after purchasing an additional 698,683 shares during the last quarter. Wellington Management Group LLP purchased a new stake in Navitas Semiconductor during the second quarter worth $16,757,000. Finally, Bank of New York Mellon Corp boosted its position in Navitas Semiconductor by 21.8% during the first quarter. Bank of New York Mellon Corp now owns 566,465 shares of the company’s stock worth $4,968,000 after purchasing an additional 101,389 shares in the last quarter. Hedge funds and other institutional investors own 46.14% of the company’s stock.

Key Headlines Impacting Navitas Semiconductor

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

About Navitas Semiconductor

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.