Brokerages Set Navitas Semiconductor Corporation (NASDAQ:NVTS) Target Price at $6.48

by · The Cerbat Gem

Shares of Navitas Semiconductor Corporation (NASDAQ:NVTS – Get Free Report) have earned a consensus recommendation of “Hold” from the nine ratings firms that are presently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $6.4833.

NVTS has been the topic of a number of research analyst reports. Needham & Company LLC boosted their price objective on shares of Navitas Semiconductor from $8.00 to $13.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. Jefferies Financial Group raised Navitas Semiconductor to a “hold” rating in a research report on Tuesday, October 28th. Weiss Ratings reissued a “sell (d-)” rating on shares of Navitas Semiconductor in a report on Wednesday, October 8th. Finally, Rosenblatt Securities reiterated a “neutral” rating and issued a $8.00 price objective on shares of Navitas Semiconductor in a research note on Monday, November 10th.

Get Our Latest Analysis on Navitas Semiconductor

Insider Activity

In related news, Director Dipender Saluja sold 873,488 shares of the business’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $8.10, for a total value of $7,075,252.80. Following the completion of the transaction, the director directly owned 4,755,536 shares in the company, valued at $38,519,841.60. The trade was a 15.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Todd Glickman sold 96,313 shares of the firm’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $10.56, for a total transaction of $1,017,065.28. Following the sale, the chief financial officer owned 891,268 shares in the company, valued at approximately $9,411,790.08. This represents a 9.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 3,426,898 shares of company stock worth $29,360,063. 29.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Navitas Semiconductor

A number of institutional investors and hedge funds have recently made changes to their positions in NVTS. Allworth Financial LP lifted its position in shares of Navitas Semiconductor by 309.4% during the 3rd quarter. Allworth Financial LP now owns 3,570 shares of the company’s stock valued at $26,000 after buying an additional 2,698 shares in the last quarter. Cranbrook Wealth Management LLC acquired a new stake in Navitas Semiconductor in the 2nd quarter valued at about $25,000. NewEdge Advisors LLC lifted its stake in Navitas Semiconductor by 189.8% in the 2nd quarter. NewEdge Advisors LLC now owns 4,492 shares of the company’s stock worth $29,000 after purchasing an additional 2,942 shares in the last quarter. CWM LLC boosted its holdings in shares of Navitas Semiconductor by 24.7% during the 3rd quarter. CWM LLC now owns 4,515 shares of the company’s stock worth $33,000 after purchasing an additional 893 shares during the last quarter. Finally, ST Germain D J Co. Inc. purchased a new stake in shares of Navitas Semiconductor in the second quarter valued at approximately $33,000. 46.14% of the stock is currently owned by hedge funds and other institutional investors.

Navitas Semiconductor Price Performance

Shares of NASDAQ:NVTS opened at $7.66 on Wednesday. The business’s 50-day moving average is $10.04 and its 200 day moving average is $8.04. Navitas Semiconductor has a 1 year low of $1.52 and a 1 year high of $17.79. The firm has a market capitalization of $1.77 billion, a P/E ratio of -11.97 and a beta of 3.14.

Navitas Semiconductor (NASDAQ:NVTS – Get Free Report) last issued its quarterly earnings results on Monday, November 3rd. The company reported ($0.05) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.05). Navitas Semiconductor had a negative return on equity of 14.86% and a negative net margin of 220.85%.The business had revenue of $10.11 million for the quarter, compared to analyst estimates of $10.00 million. During the same quarter in the previous year, the firm earned ($0.10) earnings per share. The company’s revenue was down 53.4% on a year-over-year basis. On average, analysts expect that Navitas Semiconductor will post -0.51 EPS for the current year.

About Navitas Semiconductor

(Get Free Report)

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.

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