Navitas Semiconductor (NASDAQ:NVTS) Given New $21.00 Price Target at Needham & Company LLC

Navitas Semiconductor (NASDAQ:NVTS) had its target price boosted by investment analysts at Needham & Company LLC from $13.00 to $21.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price objective indicates a potential upside of 19.66% from the stock’s previous close.

Other research analysts also recently issued reports about the stock. Rosenblatt Securities restated a “neutral” rating and issued a $7.00 price target on shares of Navitas Semiconductor in a research report on Thursday, March 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Navitas Semiconductor in a report on Tuesday, April 21st. Finally, Robert W. Baird increased their price objective on shares of Navitas Semiconductor from $9.00 to $20.00 and gave the stock an “outperform” rating in a report on Monday. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $10.32.

Navitas Semiconductor Stock Performance

Navitas Semiconductor stock opened at $17.55 on Wednesday. The firm’s 50-day moving average is $10.78 and its 200-day moving average is $9.94. Navitas Semiconductor has a 1 year low of $1.80 and a 1 year high of $19.79. The company has a market cap of $4.05 billion, a P/E ratio of -30.79 and a beta of 3.62.

Navitas Semiconductor (NASDAQ:NVTS) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. Navitas Semiconductor had a negative net margin of 254.71% and a negative return on equity of 14.52%. The company had revenue of $8.60 million for the quarter, compared to the consensus estimate of $8.22 million. During the same period last year, the firm posted ($0.06) EPS. The company’s revenue for the quarter was down 38.7% on a year-over-year basis. As a group, sell-side analysts predict that Navitas Semiconductor will post -0.26 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Chris Allexandre sold 9,236 shares of the stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $8.93, for a total value of $82,477.48. Following the sale, the chief executive officer owned 813,323 shares of the company’s stock, valued at $7,262,974.39. This trade represents a 1.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Todd Glickman sold 98,152 shares of the stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $10.78, for a total transaction of $1,058,078.56. Following the completion of the sale, the chief financial officer directly owned 735,231 shares in the company, valued at approximately $7,925,790.18. This trade represents a 11.78% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 509,016 shares of company stock valued at $4,967,814 in the last quarter. Company insiders own 29.90% of the company’s stock.

Hedge Funds Weigh In On Navitas Semiconductor

Large investors have recently bought and sold shares of the stock. Allworth Financial LP increased its stake in Navitas Semiconductor by 309.4% during the 3rd quarter. Allworth Financial LP now owns 3,570 shares of the company’s stock valued at $26,000 after buying an additional 2,698 shares during the period. NewEdge Advisors LLC increased its stake in Navitas Semiconductor by 189.8% during the 2nd quarter. NewEdge Advisors LLC now owns 4,492 shares of the company’s stock valued at $29,000 after buying an additional 2,942 shares during the period. CWM LLC increased its stake in Navitas Semiconductor by 24.7% during the 3rd quarter. CWM LLC now owns 4,515 shares of the company’s stock valued at $33,000 after buying an additional 893 shares during the period. GAMMA Investing LLC increased its stake in Navitas Semiconductor by 116.5% during the 4th quarter. GAMMA Investing LLC now owns 4,736 shares of the company’s stock valued at $34,000 after buying an additional 2,548 shares during the period. Finally, Geneos Wealth Management Inc. increased its stake in Navitas Semiconductor by 3,200.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 4,125 shares of the company’s stock valued at $36,000 after buying an additional 4,000 shares during the period. Institutional investors and hedge funds own 46.14% of the company’s stock.

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.