Navitas Semiconductor (NASDAQ:NVTS) Raised to “Buy” at Craig Hallum

Navitas Semiconductor (NASDAQ:NVTS) was upgraded by equities researchers at Craig Hallum from a “hold” rating to a “buy” rating in a report issued on Wednesday, MarketBeat reports. The brokerage currently has a $13.00 price objective on the stock. Craig Hallum‘s target price indicates a potential upside of 51.87% from the company’s previous close.

A number of other research analysts have also recently weighed in on the stock. Morgan Stanley restated an “underweight” rating and issued a $12.60 price objective on shares of Navitas Semiconductor in a report on Tuesday, July 28th. Jefferies Financial Group set a $13.00 target price on shares of Navitas Semiconductor in a report on Tuesday, July 28th. Rosenblatt Securities raised shares of Navitas Semiconductor from a “neutral” rating to a “buy” rating and set a $13.00 price target for the company in a research report on Wednesday. Needham & Company LLC restated a “buy” rating and issued a $21.00 price target on shares of Navitas Semiconductor in a research note on Tuesday, July 28th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Navitas Semiconductor in a research report on Monday, September 14th. Four research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $14.43.

Navitas Semiconductor Price Performance

NASDAQ NVTS opened at $8.56 on Wednesday. The company has a market cap of $2.23 billion, a P/E ratio of -6.44 and a beta of 4.04. The stock has a 50-day moving average of $10.73 and a two-hundred day moving average of $13.23. Navitas Semiconductor has a 1-year low of $6.85 and a 1-year high of $34.17.

Navitas Semiconductor (NASDAQ:NVTS) last issued its quarterly earnings results on Tuesday, November 3rd. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. The company had revenue of $13.99 million for the quarter, compared to analyst estimates of $13.42 million. Navitas Semiconductor had a negative net margin of 856.85% and a negative return on equity of 13.13%. The business’s revenue for the quarter was up 38.4% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.05) earnings per share. On average, analysts anticipate that Navitas Semiconductor will post -0.31 EPS for the current fiscal year.

Institutional Trading of Navitas Semiconductor

A number of large investors have recently made changes to their positions in NVTS. Rakuten Securities Inc. acquired a new stake in Navitas Semiconductor in the second quarter valued at approximately $27,000. Beaird Harris Wealth Management LLC grew its holdings 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 worth $31,000 after acquiring an additional 1,239 shares in the last quarter. Root Financial Partners LLC purchased a new stake in shares of Navitas Semiconductor in the 3rd quarter valued at approximately $27,000. Global Retirement Partners LLC purchased a new stake in shares of Navitas Semiconductor in the 2nd quarter valued at approximately $66,000. Finally, Compass Financial Management LLC acquired a new stake in shares of Navitas Semiconductor in the 2nd quarter valued at $71,000. 46.14% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting Navitas Semiconductor

Here are the key news stories impacting Navitas Semiconductor this week:

• Positive Sentiment: Navitas reported a third-quarter loss of $0.03 per share, narrower than analysts’ expected $0.04 loss and the $0.05 loss a year earlier. Revenue of $13.99 million topped the $13.42 million consensus and rose 38% year over year. Zacks earnings article
• Positive Sentiment: Management expects another quarter of double-digit sequential revenue growth in Q4, which would make it the company’s highest quarterly revenue in seven quarters. Gross margins also continued to expand. Third-quarter results and outlook
• Positive Sentiment: AI data centers and grid and energy infrastructure are driving growth and backlog. Navitas expects these markets to exceed 40% of sales by year-end; high-power-market revenue is projected to grow 125% for the year, supporting the company’s pivot toward these markets. Third-quarter results and outlook
• Neutral Sentiment: Despite the improving results, Navitas remains loss-making. Its Q4 outlook implies full-year revenue growth of about 7%, as gains in high-power markets are partly offset by its exit from mobile and low-end consumer business. Third-quarter results and outlook

About Navitas Semiconductor

Navitas Semiconductor Corporation (NASDAQ:NVTS) develops power semiconductor technologies designed to improve the efficiency, performance and size of electronic systems. The company specializes in gallium nitride (GaN) power integrated circuits and silicon carbide (SiC) devices, which are used to convert and manage electrical power.

Its product portfolio includes GaNFast power ICs, GeneSiC silicon carbide products and related power-management solutions. These technologies are used in applications such as mobile and consumer chargers, data centers, solar inverters, electric vehicles, energy storage systems, appliances and industrial equipment.

Founded in 2014, Navitas serves customers and markets globally through its semiconductor products and engineering support.