Navitas Semiconductor Corporation (NASDAQ:NVTS) Stock Has Consensus Target Price of $14.43 According to Analysts

Shares of Navitas Semiconductor Corporation (NASDAQ:NVTS) have been assigned a consensus rating of “Hold” from the six brokerages that are covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $14.43.

A number of analysts have recently weighed in on NVTS shares. Weiss Ratings restated a “sell (d-)” rating on shares of Navitas Semiconductor in a research note on Monday, September 14th. Craig Hallum upgraded shares of Navitas Semiconductor from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a research note on Wednesday, November 4th. Jefferies Financial Group set a $13.00 target price on shares of Navitas Semiconductor in a report on Tuesday, July 28th. Needham & Company LLC cut their target price on shares of Navitas Semiconductor from $21.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, November 4th. Finally, Wall Street Zen cut shares of Navitas Semiconductor from a “hold” rating to a “sell” rating in a report on Sunday.

Navitas Semiconductor Stock Performance

Shares of NASDAQ NVTS traded down $0.61 during mid-day trading on Friday, reaching $8.95. 10,101,070 shares of the company traded hands, compared to its average volume of 13,920,406. The company’s fifty day moving average is $10.31 and its two-hundred day moving average is $13.20. Navitas Semiconductor has a fifty-two week low of $6.85 and a fifty-two week high of $34.17. The stock has a market cap of $2.41 billion, a PE ratio of -6.49 and a beta of 4.04.

Navitas Semiconductor (NASDAQ:NVTS) last posted its earnings results on Tuesday, November 3rd. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.01. The firm had revenue of $13.99 million during the quarter, compared to analyst estimates of $13.42 million. Navitas Semiconductor had a negative return on equity of 11.84% and a negative net margin of 818.84%. The company’s revenue for the quarter was up 38.4% on a year-over-year basis. During the same period in the previous year, the company earned ($0.05) EPS. Research analysts forecast that Navitas Semiconductor will post -0.32 earnings per share for the current year.

Institutional Trading of Navitas Semiconductor

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rakuten Securities Inc. acquired a new stake in shares of Navitas Semiconductor in the second quarter worth $27,000. Root Financial Partners LLC acquired a new position in Navitas Semiconductor during the 3rd quarter valued at $27,000. Beaird Harris Wealth Management LLC raised its stake in Navitas Semiconductor by 247.8% during the 2nd quarter. Beaird Harris Wealth Management LLC now owns 1,739 shares of the company’s stock valued at $31,000 after purchasing an additional 1,239 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in Navitas Semiconductor by 3,200.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 4,125 shares of the company’s stock valued at $36,000 after purchasing an additional 4,000 shares during the period. Finally, State of Wyoming increased its holdings in shares of Navitas Semiconductor by 92.8% during the 1st quarter. State of Wyoming now owns 4,803 shares of the company’s stock worth $42,000 after purchasing an additional 2,312 shares during the period. Institutional investors and hedge funds own 46.14% of the company’s stock.

About Navitas Semiconductor

Navitas Semiconductor develops power semiconductors and integrated circuits based on gallium nitride (GaN) and silicon carbide (SiC). Its products are designed to convert and control electrical power more efficiently than conventional silicon-based solutions. The company’s portfolio includes GaN power ICs and SiC devices used in applications such as mobile-device charging, data centers, electric vehicles, solar power, energy storage and industrial equipment. Navitas serves customers in markets around the world.