Navitas Semiconductor (NASDAQ:NVTS) Releases Quarterly Earnings Results, Hits Expectations

Navitas Semiconductor (NASDAQ:NVTS) issued its earnings results on Monday. The company reported ($0.04) EPS for the quarter, hitting analysts’ consensus estimates of ($0.04), FiscalAI reports. The firm had revenue of $10.53 million during the quarter, compared to the consensus estimate of $9.97 million. Navitas Semiconductor had a negative net margin of 330.67% and a negative return on equity of 14.30%.

Navitas Semiconductor Stock Performance

Shares of NVTS stock traded up $0.49 during mid-day trading on Monday, hitting $11.41. 21,098,749 shares of the stock were exchanged, compared to its average volume of 26,846,773. The stock’s fifty day simple moving average is $20.00 and its two-hundred day simple moving average is $14.18. The stock has a market capitalization of $2.67 billion, a price-to-earnings ratio of -18.11 and a beta of 3.82. Navitas Semiconductor has a 12-month low of $5.44 and a 12-month high of $34.17.

Wall Street Analyst Weigh In

A number of analysts have weighed in on NVTS shares. Needham & Company LLC raised their price target on Navitas Semiconductor from $13.00 to $21.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Rosenblatt Securities increased their price objective on Navitas Semiconductor from $7.00 to $13.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Robert W. Baird raised their target price on Navitas Semiconductor from $9.00 to $20.00 and gave the stock an “outperform” rating in a research report on Monday, May 4th. Wall Street Zen upgraded Navitas Semiconductor from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Morgan Stanley restated an “underweight” rating and set a $13.70 target price on shares of Navitas Semiconductor in a research note on Wednesday, May 6th. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $14.74.

Insider Transactions at Navitas Semiconductor

In other Navitas Semiconductor news, Director Ranbir Singh sold 664,058 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $28.72, for a total value of $19,071,745.76. Following the completion of the sale, the director owned 14,943,475 shares in the company, valued at approximately $429,176,602. The trade was a 4.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gary Kent Wunderlich, Jr. sold 35,165 shares of the stock in a transaction that occurred 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 completion of the sale, the director directly owned 2,375,060 shares of the company’s stock, valued at $66,834,188.40. The trade was a 1.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 3,989,478 shares of company stock valued at $116,356,387 over the last quarter. Company insiders own 12.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of NVTS. American Century Companies Inc. boosted its stake in shares of Navitas Semiconductor by 104.8% during the second quarter. American Century Companies Inc. now owns 241,450 shares of the company’s stock worth $1,581,000 after buying an additional 123,577 shares during the period. Prudential Financial Inc. purchased a new stake in Navitas Semiconductor during the 2nd quarter valued at approximately $120,000. New York State Common Retirement Fund lifted its position in Navitas Semiconductor by 102.7% during the 2nd quarter. New York State Common Retirement Fund now owns 40,255 shares of the company’s stock worth $264,000 after acquiring an additional 20,400 shares during the period. Invesco Ltd. lifted its position in Navitas Semiconductor by 75.2% during the 2nd quarter. Invesco Ltd. now owns 3,206,008 shares of the company’s stock worth $20,999,000 after acquiring an additional 1,376,205 shares during the period. Finally, Baird Financial Group Inc. lifted its position in Navitas Semiconductor by 2,514.3% during the 2nd quarter. Baird Financial Group Inc. now owns 419,237 shares of the company’s stock worth $2,746,000 after acquiring an additional 403,201 shares during the period. 46.14% of the stock is owned by hedge funds and other institutional investors.

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.