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

Shares of Navitas Semiconductor Corporation (NASDAQ:NVTS) have earned a consensus rating of “Hold” from the seven ratings firms that are currently covering the company, MarketBeat Ratings reports. One analyst has 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 target among analysts that have covered the stock in the last year is $6.78.

NVTS has been the subject of several recent research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Navitas Semiconductor in a research report on Tuesday, April 21st. Rosenblatt Securities reissued a “neutral” rating and set a $7.00 price objective on shares of Navitas Semiconductor in a research report on Thursday, March 12th.

Insider Activity

In other news, Director Ranbir Singh sold 389,096 shares of the firm’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $9.52, for a total transaction of $3,704,193.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Todd Glickman sold 98,152 shares of the firm’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $10.78, for a total value of $1,058,078.56. Following the transaction, the chief financial officer owned 735,231 shares of the company’s stock, valued at $7,925,790.18. The trade was a 11.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 509,016 shares of company stock worth $4,967,814 over the last three months. 29.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Navitas Semiconductor

Several institutional investors and hedge funds have recently modified their holdings of NVTS. Invesco Ltd. increased its holdings in shares of Navitas Semiconductor by 257.8% during the fourth quarter. Invesco Ltd. now owns 4,737,624 shares of the company’s stock valued at $33,827,000 after acquiring an additional 3,413,394 shares in the last quarter. Marex Group plc increased its holdings in shares of Navitas Semiconductor by 22,203.8% during the fourth quarter. Marex Group plc now owns 2,675,113 shares of the company’s stock valued at $19,100,000 after acquiring an additional 2,663,119 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of 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 acquiring an additional 2,550,613 shares in the last quarter. Ghisallo Capital Management LLC bought a new position in shares of Navitas Semiconductor during the fourth quarter valued at $15,867,000. Finally, UBS Group AG increased its holdings in shares of Navitas Semiconductor by 131.0% during the fourth quarter. UBS Group AG now owns 3,307,036 shares of the company’s stock valued at $23,612,000 after acquiring an additional 1,875,228 shares in the last quarter. 46.14% of the stock is currently owned by institutional investors.

Navitas Semiconductor Trading Up 5.9%

Shares of Navitas Semiconductor stock opened at $18.30 on Tuesday. The firm has a market capitalization of $4.22 billion, a P/E ratio of -32.10 and a beta of 3.15. The business has a fifty day simple moving average of $10.14 and a two-hundred day simple moving average of $9.81. Navitas Semiconductor has a 12 month low of $1.80 and a 12 month high of $19.79.

Navitas Semiconductor (NASDAQ:NVTS) last announced its quarterly earnings data on Tuesday, February 24th. The company reported ($0.05) EPS for the quarter, meeting the consensus estimate of ($0.05). The business had revenue of $7.30 million during the quarter, compared to analyst estimates of $6.95 million. Navitas Semiconductor had a negative return on equity of 14.52% and a negative net margin of 254.71%.The company’s revenue for the quarter was down 59.4% on a year-over-year basis. During the same quarter last year, the firm posted ($0.06) earnings per share. Analysts predict that Navitas Semiconductor will post -0.26 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.