Analysts Set Navitas Semiconductor Corporation (NASDAQ:NVTS) PT at $6.78

Shares of Navitas Semiconductor Corporation (NASDAQ:NVTS) have earned an average recommendation of “Hold” from the eight ratings firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $8.9833.

Several brokerages recently commented on NVTS. Robert W. Baird increased their price objective on shares of Navitas Semiconductor from $9.00 to $20.00 and gave the company an “outperform” rating in a research note on Monday. Weiss Ratings reissued a “sell (d-)” rating on shares of Navitas Semiconductor in a research note on Tuesday, April 21st. Finally, Rosenblatt Securities reissued a “neutral” rating and issued a $7.00 price objective on shares of Navitas Semiconductor in a research note on Thursday, March 12th.

Navitas Semiconductor Trading Down 8.8%

Shares of Navitas Semiconductor stock opened at $15.92 on Tuesday. The company has a 50 day moving average of $10.59 and a 200-day moving average of $9.92. Navitas Semiconductor has a 1-year low of $1.80 and a 1-year high of $19.79. The company has a market cap of $3.67 billion, a PE ratio of -27.93 and a beta of 3.62.

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

Insider Activity at Navitas Semiconductor

In related news, CEO Chris Allexandre sold 9,236 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $8.93, for a total value of $82,477.48. Following the completion of the transaction, the chief executive officer owned 813,323 shares of the company’s stock, valued at $7,262,974.39. This represents a 1.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Todd Glickman sold 98,152 shares of the stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $10.78, for a total transaction of $1,058,078.56. Following the completion of the transaction, the chief financial officer directly owned 735,231 shares of the company’s stock, valued at approximately $7,925,790.18. The trade was a 11.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 509,016 shares of company stock valued at $4,967,814 in the last quarter. Insiders own 29.90% of the company’s stock.

Hedge Funds Weigh In On Navitas Semiconductor

Several institutional investors and hedge funds have recently added to or reduced their stakes in NVTS. Allworth Financial LP lifted its stake in Navitas Semiconductor by 309.4% in the 3rd quarter. Allworth Financial LP now owns 3,570 shares of the company’s stock valued at $26,000 after purchasing an additional 2,698 shares during the last quarter. NewEdge Advisors LLC raised its stake in shares of Navitas Semiconductor by 189.8% during the second quarter. NewEdge Advisors LLC now owns 4,492 shares of the company’s stock valued at $29,000 after acquiring an additional 2,942 shares during the last quarter. CWM LLC raised its stake in shares of Navitas Semiconductor by 24.7% during the third quarter. CWM LLC now owns 4,515 shares of the company’s stock valued at $33,000 after acquiring an additional 893 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Navitas Semiconductor by 116.5% during the fourth quarter. GAMMA Investing LLC now owns 4,736 shares of the company’s stock valued at $34,000 after acquiring an additional 2,548 shares during the last quarter. Finally, Parkside Financial Bank & Trust raised its stake in shares of Navitas Semiconductor by 1,376.3% during the third quarter. Parkside Financial Bank & Trust now owns 5,285 shares of the company’s stock valued at $38,000 after acquiring an additional 4,927 shares during the last quarter. Institutional investors own 46.14% of the company’s stock.

Navitas Semiconductor Company Profile

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.