Navitas Semiconductor Corporation (NVTS) – What Are Researchers Thinking About This Stock?

Navitas Semiconductor Corporation (NASDAQ:NVTS) has been given a consensus rating of “Hold” by the six brokerages that are presently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $15.92.

NVTS has been the subject of several research analyst reports. Rosenblatt Securities restated a “neutral” rating and set a $13.00 price target on shares of Navitas Semiconductor in a research note on Tuesday, September 29th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Navitas Semiconductor in a research note on Monday, September 14th. Jefferies Financial Group set a $13.00 price objective on Navitas Semiconductor in a report on Tuesday, July 28th. Wall Street Zen downgraded Navitas Semiconductor from a “hold” rating to a “sell” rating in a research report on Saturday, October 3rd. Finally, Morgan Stanley reissued an “underweight” rating and issued a $12.60 target price on shares of Navitas Semiconductor in a research report on Tuesday, July 28th.

Navitas Semiconductor Stock Up 0.2%

Shares of NVTS stock opened at $8.40 on Tuesday. Navitas Semiconductor has a 52 week low of $6.85 and a 52 week high of $34.17. The firm’s 50-day simple moving average is $11.24 and its two-hundred day simple moving average is $13.27.

Navitas Semiconductor (NASDAQ:NVTS) last released its earnings results on Monday, July 27th. The company reported ($0.04) earnings per share 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 for the quarter, compared to analysts’ expectations of $9.97 million. During the same period in the previous year, the company earned ($0.25) earnings per share. The company’s quarterly revenue was down 27.3% on a year-over-year basis. Research analysts expect that Navitas Semiconductor will post -0.31 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NVTS. BlackRock Inc. purchased a new stake in Navitas Semiconductor in the 2nd quarter worth about $290,970,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Navitas Semiconductor during the second quarter valued at about $75,701,000. Wellington Management Group LLP purchased a new stake in Navitas Semiconductor during the second quarter valued at about $16,757,000. Tidal Investments LLC boosted 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. Finally, Bank of New York Mellon Corp bought a new position in Navitas Semiconductor during the second quarter worth about $9,116,000. Institutional investors own 46.14% of the company’s stock.

Navitas Semiconductor Company Profile

Navitas Semiconductor Corporation (NASDAQ:NVTS) develops power semiconductor technologies designed to improve the efficiency, performance and size of electronic systems. The company specializes in gallium nitride (GaN) power integrated circuits and silicon carbide (SiC) devices, which are used to convert and manage electrical power.

Its product portfolio includes GaNFast power ICs, GeneSiC silicon carbide products and related power-management solutions. These technologies are used in applications such as mobile and consumer chargers, data centers, solar inverters, electric vehicles, energy storage systems, appliances and industrial equipment.

Founded in 2014, Navitas serves customers and markets globally through its semiconductor products and engineering support.