Navitas Semiconductor Corporation (NASDAQ:NVTS) Receives $14.74 Consensus PT from Analysts

Navitas Semiconductor Corporation (NASDAQ:NVTS) has earned a consensus rating of “Hold” from the eight analysts that are presently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $14.74.

A number of equities research analysts have commented on NVTS shares. Weiss Ratings upgraded shares of Navitas Semiconductor from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, June 17th. Needham & Company LLC lifted their price objective on shares of Navitas Semiconductor from $13.00 to $21.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Rosenblatt Securities lifted their price objective on shares of Navitas Semiconductor from $7.00 to $13.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Morgan Stanley reiterated an “underweight” rating and set a $13.70 price objective on shares of Navitas Semiconductor in a research report on Wednesday, May 6th. Finally, Wall Street Zen upgraded shares of Navitas Semiconductor from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th.

Insider Activity at Navitas Semiconductor

In other news, Director Ranbir Singh sold 664,058 shares of Navitas Semiconductor stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $28.72, for a total transaction of $19,071,745.76. Following the sale, the director owned 14,943,475 shares in the company, valued at $429,176,602. This trade represents a 4.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Chris Allexandre sold 13,323 shares of Navitas Semiconductor stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $31.81, for a total transaction of $423,804.63. Following the sale, the chief executive officer owned 1,072,633 shares in the company, valued at approximately $34,120,455.73. The trade was a 1.23% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 3,989,478 shares of company stock worth $116,356,387. 12.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Bank of America Corp DE grew its holdings in shares of Navitas Semiconductor by 17.2% in the first quarter. Bank of America Corp DE now owns 826,674 shares of the company’s stock valued at $7,250,000 after purchasing an additional 121,162 shares in the last quarter. Arkadios Wealth Advisors purchased a new position in shares of Navitas Semiconductor in the first quarter valued at $123,000. California State Teachers Retirement System grew its holdings in shares of Navitas Semiconductor by 39.8% in the first quarter. California State Teachers Retirement System now owns 227,220 shares of the company’s stock valued at $1,993,000 after purchasing an additional 64,643 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Navitas Semiconductor by 12.5% in the first quarter. The Manufacturers Life Insurance Company now owns 93,115 shares of the company’s stock valued at $817,000 after purchasing an additional 10,323 shares in the last quarter. Finally, Quantinno Capital Management LP purchased a new position in shares of Navitas Semiconductor in the first quarter valued at $160,000. 46.14% of the stock is owned by hedge funds and other institutional investors.

Navitas Semiconductor Trading Down 9.7%

NASDAQ NVTS opened at $21.40 on Wednesday. Navitas Semiconductor has a 12 month low of $5.44 and a 12 month high of $34.17. The stock has a market cap of $5.00 billion, a price-to-earnings ratio of -33.97 and a beta of 3.75. The company’s 50 day moving average is $21.01 and its two-hundred day moving average is $13.19.

Navitas Semiconductor (NASDAQ:NVTS) last released its earnings results on Tuesday, May 5th. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. Navitas Semiconductor had a negative net margin of 330.67% and a negative return on equity of 14.30%. The company had revenue of $8.60 million for the quarter, compared to analysts’ expectations of $8.22 million. During the same quarter last year, the business earned ($0.06) EPS. The firm’s revenue was down 38.7% compared to the same quarter last year. Sell-side analysts forecast that Navitas Semiconductor will post -0.39 EPS for the current year.

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.