Analysts Set Navitas Semiconductor Corporation (NASDAQ:NVTS) PT at $14.74

Shares of Navitas Semiconductor Corporation (NASDAQ:NVTS) have been assigned an average rating of “Hold” from the eight brokerages that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and two have given a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $14.74.

Several equities research analysts recently weighed in on the company. Morgan Stanley restated an “underweight” rating and set a $13.70 target price on shares of Navitas Semiconductor in a report on Wednesday, May 6th. Robert W. Baird lifted their price target on Navitas Semiconductor from $9.00 to $20.00 and gave the stock an “outperform” rating in a research note on Monday, May 4th. Rosenblatt Securities boosted their price objective on Navitas Semiconductor from $7.00 to $13.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Wall Street Zen upgraded Navitas Semiconductor from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings raised Navitas Semiconductor from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, June 17th.

Insider Activity

In other Navitas Semiconductor news, Director Gary Kent Wunderlich, Jr. sold 35,165 shares of the firm’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $28.14, for a total value of $989,543.10. Following the sale, the director owned 2,375,060 shares of the company’s stock, valued at $66,834,188.40. This trade represents a 1.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard J. Hendrix sold 110,165 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $28.96, for a total transaction of $3,190,378.40. Following the completion of the sale, the director directly owned 101,709 shares in the company, valued at approximately $2,945,492.64. This trade represents a 52.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 3,989,478 shares of company stock valued at $116,356,387. 12.40% of the stock is owned by corporate insiders.

Institutional Trading of Navitas Semiconductor

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Navitas Semiconductor by 10.0% in the fourth quarter. Vanguard Group Inc. now owns 14,691,351 shares of the company’s stock worth $104,896,000 after purchasing an additional 1,330,703 shares during the last quarter. State Street Corp raised its position in Navitas Semiconductor by 18.0% during the 4th quarter. State Street Corp now owns 8,597,950 shares of the company’s stock valued at $61,389,000 after purchasing an additional 1,308,626 shares during the last quarter. Invesco Ltd. lifted its holdings in Navitas Semiconductor by 257.8% in the 4th quarter. Invesco Ltd. now owns 4,737,624 shares of the company’s stock worth $33,827,000 after buying an additional 3,413,394 shares during the period. Geode Capital Management LLC lifted its holdings in Navitas Semiconductor by 12.8% in the 4th quarter. Geode Capital Management LLC now owns 4,417,408 shares of the company’s stock worth $31,546,000 after buying an additional 501,110 shares during the period. Finally, UBS Group AG grew its position in shares of Navitas Semiconductor by 131.0% in the 4th quarter. UBS Group AG now owns 3,307,036 shares of the company’s stock worth $23,612,000 after buying an additional 1,875,228 shares during the last quarter. 46.14% of the stock is currently owned by hedge funds and other institutional investors.

Navitas Semiconductor Stock Down 2.6%

Navitas Semiconductor stock opened at $11.46 on Friday. The firm has a fifty day simple moving average of $20.93 and a two-hundred day simple moving average of $13.98. Navitas Semiconductor has a twelve month low of $5.44 and a twelve month high of $34.17. The company has a market capitalization of $2.68 billion, a PE ratio of -18.19 and a beta of 3.82.

Navitas Semiconductor (NASDAQ:NVTS) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. The firm had revenue of $8.60 million for the quarter, compared to analysts’ expectations of $8.22 million. Navitas Semiconductor had a negative return on equity of 14.30% and a negative net margin of 330.67%.The company’s revenue for the quarter was down 38.7% compared to the same quarter last year. During the same period last year, the firm earned ($0.06) earnings per share. As a group, equities analysts expect that Navitas Semiconductor will post -0.39 earnings per share for the current fiscal 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.