Navitas Semiconductor Corporation (NASDAQ:NVTS) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Navitas Semiconductor Corporation (NASDAQ:NVTS) have received an average recommendation of “Hold” from the six brokerages that are presently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $15.92.

Several research firms recently issued reports on NVTS. Jefferies Financial Group set a $13.00 price objective on Navitas Semiconductor in a research note on Tuesday, July 28th. Robert W. Baird lifted their price objective on Navitas Semiconductor from $9.00 to $20.00 and gave the stock an “outperform” rating in a report on Monday, May 4th. Needham & Company LLC reiterated a “buy” rating and set a $21.00 price target on shares of Navitas Semiconductor in a report on Tuesday, July 28th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $13.00 price target on shares of Navitas Semiconductor in a research report on Tuesday, July 28th. Finally, Weiss Ratings upgraded Navitas Semiconductor from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, June 17th.

Institutional Trading of Navitas Semiconductor

A number of hedge funds have recently modified their holdings of the business. Kestra Advisory Services LLC increased its holdings in shares of Navitas Semiconductor by 2.8% in the 1st quarter. Kestra Advisory Services LLC now owns 42,189 shares of the company’s stock worth $370,000 after purchasing an additional 1,150 shares in the last quarter. Beaird Harris Wealth Management LLC boosted its position in shares of Navitas Semiconductor by 247.8% during the second quarter. Beaird Harris Wealth Management LLC now owns 1,739 shares of the company’s stock valued at $31,000 after buying an additional 1,239 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of Navitas Semiconductor by 12.6% during the fourth quarter. Russell Investments Group Ltd. now owns 13,476 shares of the company’s stock valued at $96,000 after buying an additional 1,505 shares during the last quarter. Rakuten Securities Inc. bought a new stake in Navitas Semiconductor in the 2nd quarter worth about $27,000. Finally, Captrust Financial Advisors raised its position in Navitas Semiconductor by 3.8% in the 2nd quarter. Captrust Financial Advisors now owns 45,758 shares of the company’s stock worth $300,000 after buying an additional 1,667 shares during the last quarter. Institutional investors own 46.14% of the company’s stock.

Navitas Semiconductor Stock Performance

Shares of NVTS opened at $11.49 on Monday. Navitas Semiconductor has a 52-week low of $5.44 and a 52-week high of $34.17. The stock’s 50-day simple moving average is $13.69 and its 200 day simple moving average is $14.67. The stock has a market capitalization of $3.00 billion, a price-to-earnings ratio of -8.64 and a beta of 3.86.

Navitas Semiconductor (NASDAQ:NVTS) last posted its earnings results on Monday, July 27th. The company reported ($0.04) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.04). Navitas Semiconductor had a negative return on equity of 13.13% and a negative net margin of 856.85%.The business had revenue of $10.53 million during the quarter, compared to analyst estimates of $9.97 million. During the same quarter in the previous year, the firm earned ($0.25) EPS. The company’s quarterly revenue was down 27.3% compared to the same quarter last year. On average, research analysts forecast that Navitas Semiconductor will post -0.31 earnings per share for the current fiscal year.

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.