Navitas Semiconductor Corporation (NASDAQ:NVTS) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Navitas Semiconductor Corporation (NASDAQ:NVTS) have received a consensus recommendation of “Hold” from the nine ratings firms that are currently covering the stock, Marketbeat reports. Two investment 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 target price among analysts that have updated their coverage on the stock in the last year is $6.4833.

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

Navitas Semiconductor Stock Up 0.1%

NASDAQ NVTS opened at $10.07 on Friday. The stock’s 50-day simple moving average is $8.52 and its two-hundred day simple moving average is $8.14. Navitas Semiconductor has a twelve month low of $1.52 and a twelve month high of $17.79. The company has a market capitalization of $2.32 billion, a price-to-earnings ratio of -15.73 and a beta of 3.16.

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

Insider Transactions at Navitas Semiconductor

In other news, Director Ranbir Singh sold 179,354 shares of the business’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $8.68, for a total value of $1,556,792.72. Following the completion of the sale, the director owned 389,096 shares of the company’s stock, valued at approximately $3,377,353.28. The trade was a 31.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Dipender Saluja sold 873,488 shares of the stock in a transaction dated 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 sale, the director owned 4,755,536 shares of the company’s stock, valued at $38,519,841.60. This represents a 15.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 3,426,898 shares of company stock valued at $29,360,063. 29.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in NVTS. Cranbrook Wealth Management LLC bought a new stake in Navitas Semiconductor during the 2nd quarter valued at $25,000. Allworth Financial LP increased its position in shares of Navitas Semiconductor by 309.4% in the third quarter. Allworth Financial LP now owns 3,570 shares of the company’s stock valued at $26,000 after acquiring an additional 2,698 shares during the period. 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. ST Germain D J Co. Inc. purchased a new stake in shares of Navitas Semiconductor during the second quarter worth about $33,000. Finally, CWM LLC grew its stake in shares of Navitas Semiconductor by 24.7% in the third 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. 46.14% of the stock is owned by hedge funds and other institutional investors.

About Navitas Semiconductor

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.