Navitas Semiconductor Corporation (NASDAQ:NVTS) Stock Now Rated “Hold” by Sell-Side Analysts

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

Several research analysts have recently weighed in on the stock. Jefferies Financial Group set a $13.00 target price on shares of Navitas Semiconductor in a research note on Tuesday, July 28th. Morgan Stanley restated an “underweight” rating and issued a $12.60 target price on shares of Navitas Semiconductor in a research note on Tuesday, July 28th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Navitas Semiconductor in a research report on Monday, September 14th. Needham & Company LLC restated a “buy” rating and issued a $21.00 price target on shares of Navitas Semiconductor in a research report on Tuesday, July 28th. Finally, Rosenblatt Securities reiterated a “neutral” rating and set a $13.00 price target on shares of Navitas Semiconductor in a research report on Tuesday, July 28th.

Navitas Semiconductor Price Performance

NASDAQ:NVTS opened at $11.84 on Friday. The company has a market cap of $3.09 billion, a P/E ratio of -8.90 and a beta of 3.88. The firm’s 50 day moving average is $12.04 and its two-hundred day moving average is $15.05. Navitas Semiconductor has a fifty-two week low of $6.22 and a fifty-two week high of $34.17.

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

Institutional Trading of Navitas Semiconductor

Hedge funds and other institutional investors have recently modified their holdings of the company. Rakuten Securities Inc. acquired a new stake in Navitas Semiconductor in the 2nd quarter valued at about $27,000. Beaird Harris Wealth Management LLC raised its holdings in shares of Navitas Semiconductor by 247.8% in the 2nd quarter. Beaird Harris Wealth Management LLC now owns 1,739 shares of the company’s stock worth $31,000 after purchasing an additional 1,239 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in Navitas Semiconductor by 3,200.0% during the first 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 last quarter. State of Wyoming lifted its stake in Navitas Semiconductor by 92.8% during the first quarter. State of Wyoming now owns 4,803 shares of the company’s stock valued at $42,000 after purchasing an additional 2,312 shares during the last quarter. Finally, Sarver Vrooman Wealth Advisors bought a new stake in Navitas Semiconductor during the fourth quarter worth approximately $45,000. Institutional investors own 46.14% of the company’s stock.

About Navitas Semiconductor

Navitas Semiconductor Corporation (NASDAQ: NVTS) develops gallium nitride (GaN) and silicon carbide (SiC) power semiconductor technologies. Its products are designed to improve the efficiency, power density and size of power-conversion systems used in electronic devices and infrastructure.

The company offers GaN power integrated circuits, including its GaNFast product family, as well as SiC devices and related technologies marketed under the GeneSiC brand. Its products are used in applications such as mobile and consumer chargers, data centers, solar and energy-storage systems, electric vehicles, appliances, industrial equipment and other high-power systems.

Founded in 2014, Navitas is headquartered in Torrance, California, and serves customers and markets internationally.