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

Navitas Semiconductor Corporation (NASDAQ:NVTS) has received a consensus recommendation of “Reduce” from the eight analysts that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $6.78.

NVTS has been the subject of several recent analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Navitas Semiconductor in a research report on Thursday, January 22nd. Rosenblatt Securities reiterated a “neutral” rating and issued a $7.00 target price on shares of Navitas Semiconductor in a report on Thursday, March 12th.

Insider Activity

In related news, Director Ranbir Singh sold 389,096 shares of the stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $9.52, for a total value of $3,704,193.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Chris Allexandre sold 9,236 shares of the firm’s 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 sale, the chief executive officer directly owned 813,323 shares of the company’s stock, valued at approximately $7,262,974.39. This trade represents a 1.12% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 509,016 shares of company stock valued at $4,967,814. 29.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Navitas Semiconductor

A number of hedge funds have recently modified their holdings of NVTS. Allworth Financial LP increased 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 worth $26,000 after purchasing an additional 2,698 shares during the last quarter. NewEdge Advisors LLC boosted its stake in Navitas Semiconductor by 189.8% during the second quarter. NewEdge Advisors LLC now owns 4,492 shares of the company’s stock worth $29,000 after buying an additional 2,942 shares during the period. CWM LLC boosted its stake in Navitas Semiconductor by 24.7% during the third quarter. CWM LLC now owns 4,515 shares of the company’s stock worth $33,000 after buying an additional 893 shares during the period. GAMMA Investing LLC increased its position in shares of Navitas Semiconductor by 116.5% during the fourth quarter. GAMMA Investing LLC now owns 4,736 shares of the company’s stock valued at $34,000 after acquiring an additional 2,548 shares during the last quarter. Finally, Parkside Financial Bank & Trust raised its stake in shares of Navitas Semiconductor by 1,376.3% in the 3rd quarter. Parkside Financial Bank & Trust now owns 5,285 shares of the company’s stock valued at $38,000 after acquiring an additional 4,927 shares during the period. 46.14% of the stock is currently owned by hedge funds and other institutional investors.

Navitas Semiconductor Stock Performance

NASDAQ NVTS opened at $8.80 on Friday. The stock’s fifty day moving average is $8.92 and its two-hundred day moving average is $9.21. The firm has a market capitalization of $2.03 billion, a P/E ratio of -15.44 and a beta of 3.15. Navitas Semiconductor has a fifty-two week low of $1.52 and a fifty-two week high of $17.79.

Navitas Semiconductor (NASDAQ:NVTS) last issued its earnings results on Tuesday, February 24th. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.05). The business had revenue of $7.30 million during the quarter, compared to the consensus estimate of $6.95 million. Navitas Semiconductor had a negative return on equity of 14.52% and a negative net margin of 254.71%.The company’s revenue for the quarter was down 59.4% on a year-over-year basis. During the same period last year, the company earned ($0.06) EPS. As a group, sell-side analysts forecast that Navitas Semiconductor will post -0.51 EPS for the current year.

Navitas Semiconductor Company Profile

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.