Navitas Semiconductor Corporation (NASDAQ:NVTS) Given Average Recommendation of “Hold” by Analysts

Shares of Navitas Semiconductor Corporation (NASDAQ:NVTS) have received an average recommendation of “Hold” from the nine ratings firms that are presently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $12.8667.

Several research firms have recently commented on NVTS. Wall Street Zen raised shares of Navitas Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Robert W. Baird lifted their price target on shares of Navitas Semiconductor from $9.00 to $20.00 and gave the company an “outperform” rating in a report on Monday, May 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Navitas Semiconductor in a report on Tuesday, April 21st. Needham & Company LLC lifted their price target on shares of Navitas Semiconductor from $13.00 to $21.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Finally, Rosenblatt Securities lifted their price target on shares of Navitas Semiconductor from $7.00 to $13.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th.

Insiders Place Their Bets

In other news, CFO Todd Glickman sold 98,152 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief financial officer directly owned 735,231 shares in the company, valued at approximately $7,925,790.18. The trade was a 11.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 SEC filing for this sale provides additional information. In the last 90 days, insiders sold 509,016 shares of company stock worth $4,967,814. Insiders own 12.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE grew its stake in shares of Navitas Semiconductor by 17.2% in the first quarter. Bank of America Corp DE now owns 826,674 shares of the company’s stock worth $7,250,000 after purchasing an additional 121,162 shares in the last quarter. Arkadios Wealth Advisors acquired a new stake in Navitas Semiconductor in the first quarter worth about $123,000. California State Teachers Retirement System lifted its holdings in Navitas Semiconductor by 39.8% in the first quarter. California State Teachers Retirement System now owns 227,220 shares of the company’s stock worth $1,993,000 after purchasing an additional 64,643 shares during the period. The Manufacturers Life Insurance Company grew its position in Navitas Semiconductor by 12.5% in the 1st quarter. The Manufacturers Life Insurance Company now owns 93,115 shares of the company’s stock valued at $817,000 after buying an additional 10,323 shares in the last quarter. Finally, Quantinno Capital Management LP bought a new position in Navitas Semiconductor in the 1st quarter valued at about $160,000. Institutional investors and hedge funds own 46.14% of the company’s stock.

Navitas Semiconductor Stock Performance

NASDAQ NVTS opened at $29.25 on Friday. Navitas Semiconductor has a one year low of $4.22 and a one year high of $29.50. The company has a 50-day simple moving average of $13.90 and a 200-day simple moving average of $10.59. The firm has a market capitalization of $6.84 billion, a PE ratio of -46.43 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) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.01. Navitas Semiconductor had a negative net margin of 330.67% and a negative return on equity of 14.30%. The business had revenue of $8.60 million during the quarter, compared to analyst estimates of $8.22 million. During the same period in the previous year, the business posted ($0.06) EPS. The company’s quarterly revenue was down 38.7% on a year-over-year basis. Equities analysts forecast that Navitas Semiconductor will post -0.39 earnings per share 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.