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

Navitas Semiconductor (NASDAQ:NVTS)‘s stock had its “neutral” rating reiterated by equities researchers at Rosenblatt Securities in a note issued to investors on Tuesday, Benzinga reports. They currently have a $13.00 target price on the stock. Rosenblatt Securities’ target price indicates a potential upside of 8.80% from the stock’s previous close.

Several other equities analysts have also recently weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $21.00 price target on shares of Navitas Semiconductor in a research note on Tuesday, July 28th. Jefferies Financial Group set a $13.00 target price on shares of Navitas Semiconductor in a report on Tuesday, July 28th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Navitas Semiconductor in a research note on Monday, September 14th. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $12.60 price target on shares of Navitas Semiconductor in a research note on Tuesday, July 28th. Two equities 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’s stock. Based on data from MarketBeat, Navitas Semiconductor has an average rating of “Hold” and an average target price of $15.92.

Navitas Semiconductor Stock Performance

NVTS opened at $11.95 on Tuesday. The firm’s 50-day simple moving average is $12.06 and its 200-day simple moving average is $15.10. The firm has a market cap of $3.12 billion, a price-to-earnings ratio of -8.91 and a beta of 3.88. Navitas Semiconductor has a twelve month low of $6.83 and a twelve month high of $34.17.

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

Institutional Investors Weigh In On Navitas Semiconductor

Several institutional investors and hedge funds have recently bought and sold shares of the company. Tidal Investments LLC lifted its position 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 period. Engineers Gate Manager LP increased its stake in shares of Navitas Semiconductor by 180.5% in the second quarter. Engineers Gate Manager LP now owns 117,293 shares of the company’s stock valued at $2,102,000 after buying an additional 75,478 shares during the period. Integrated Wealth Concepts LLC acquired a new position in shares of Navitas Semiconductor in the second quarter valued at approximately $121,000. Arizona State Retirement System increased its stake in shares of Navitas Semiconductor by 22.4% in the second quarter. Arizona State Retirement System now owns 57,314 shares of the company’s stock valued at $1,027,000 after buying an additional 10,486 shares during the period. Finally, Nykredit A S bought a new position in shares of Navitas Semiconductor in the 2nd quarter worth $130,000. 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

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.