Brokerages Set Navitas Semiconductor Corporation (NASDAQ:NVTS) Target Price at $6.78

Shares of Navitas Semiconductor Corporation (NASDAQ:NVTS) have been assigned a consensus rating of “Reduce” from the eight analysts that are covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $6.78.

NVTS has been the topic of several recent research reports. Rosenblatt Securities lowered their price objective on shares of Navitas Semiconductor from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of Navitas Semiconductor in a research note on Thursday, January 22nd.

Insider Buying and Selling

In other news, Director Dipender Saluja sold 873,488 shares of the stock in a transaction on Monday, December 15th. The stock was sold at an average price of $8.10, for a total transaction of $7,075,252.80. Following the completion of the sale, the director owned 4,755,536 shares in the company, valued at approximately $38,519,841.60. This represents a 15.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Chris Allexandre sold 9,236 shares of Navitas Semiconductor stock in a transaction on Tuesday, March 3rd. The stock was 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 in the company, valued at $7,262,974.39. The trade was a 1.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,779,102 shares of company stock worth $15,269,957 over the last quarter. 29.90% of the stock is currently owned by insiders.

Institutional Trading of Navitas Semiconductor

Institutional investors and hedge funds have recently bought and sold shares of the stock. Envestnet Asset Management Inc. purchased a new stake in Navitas Semiconductor during the second quarter valued at about $421,000. Prospera Financial Services Inc purchased a new position in shares of Navitas Semiconductor in the second quarter worth approximately $191,000. Lisanti Capital Growth LLC acquired a new stake in shares of Navitas Semiconductor during the second quarter valued at approximately $1,244,000. SBI Securities Co. Ltd. lifted its position in shares of Navitas Semiconductor by 35.1% in the 2nd quarter. SBI Securities Co. Ltd. now owns 27,673 shares of the company’s stock valued at $181,000 after acquiring an additional 7,184 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in shares of Navitas Semiconductor by 1,510.4% in the 2nd quarter. PNC Financial Services Group Inc. now owns 7,424 shares of the company’s stock valued at $49,000 after acquiring an additional 6,963 shares in the last quarter. Institutional investors and hedge funds own 46.14% of the company’s stock.

Navitas Semiconductor Stock Performance

Shares of NVTS stock opened at $10.84 on Monday. Navitas Semiconductor has a 1 year low of $1.52 and a 1 year high of $17.79. The stock has a market cap of $2.50 billion, a PE ratio of -19.02 and a beta of 3.16. The business’s fifty day moving average is $9.18 and its 200-day moving average is $8.80.

Navitas Semiconductor (NASDAQ:NVTS) last announced its quarterly earnings data on Tuesday, February 24th. The company reported ($0.05) earnings per share for the quarter, meeting the consensus estimate of ($0.05). Navitas Semiconductor had a negative return on equity of 14.52% and a negative net margin of 254.71%.The business had revenue of $7.30 million during the quarter, compared to analyst estimates of $6.95 million. During the same quarter in the prior year, the firm posted ($0.06) earnings per share. The company’s revenue was down 59.4% on a year-over-year basis. Equities research analysts predict that Navitas Semiconductor will post -0.51 earnings per share for the current year.

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.