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

Navitas Semiconductor Corporation (NASDAQ:NVTS) has earned a consensus rating of “Reduce” from the eight research firms that are presently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and one has given a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $6.78.

A number of equities research analysts have commented on the company. Rosenblatt Securities decreased their price objective on Navitas Semiconductor from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Wednesday, February 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of Navitas Semiconductor in a research report on Thursday, January 22nd.

Navitas Semiconductor Stock Down 8.5%

Shares of NASDAQ:NVTS opened at $8.20 on Monday. The company’s fifty day moving average is $9.05 and its two-hundred day moving average is $8.76. The company has a market cap of $1.89 billion, a P/E ratio of -14.39 and a beta of 3.16. Navitas Semiconductor has a 12-month low of $1.52 and a 12-month high of $17.79.

Navitas Semiconductor (NASDAQ:NVTS) last issued its earnings results on Tuesday, February 24th. The company reported ($0.05) EPS for the quarter, hitting the consensus estimate of ($0.05). The business had revenue of $7.30 million during the quarter, compared to analysts’ expectations of $6.95 million. Navitas Semiconductor had a negative return on equity of 14.52% and a negative net margin of 254.71%.Navitas Semiconductor’s revenue was down 59.4% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.06) earnings per share. Equities research analysts anticipate that Navitas Semiconductor will post -0.51 earnings per share for the current year.

Insider Activity

In other Navitas Semiconductor news, Director Gary Kent Wunderlich, Jr. sold 78,649 shares of the company’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $9.25, for a total value of $727,503.25. Following the transaction, the director owned 136,615 shares in the company, valued at approximately $1,263,688.75. This represents a 36.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dipender Saluja sold 873,488 shares of the stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $8.10, for a total transaction of $7,075,252.80. Following the completion of the sale, the director owned 4,755,536 shares of the company’s stock, valued at approximately $38,519,841.60. The trade was a 15.52% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 1,957,402 shares of company stock valued at $16,922,211 in the last three months. 29.90% of the stock is currently owned by insiders.

Institutional Trading of Navitas Semiconductor

Hedge funds and other institutional investors have recently modified their holdings of the company. Allworth Financial LP grew its stake in Navitas Semiconductor by 309.4% in the third quarter. Allworth Financial LP now owns 3,570 shares of the company’s stock valued at $26,000 after purchasing an additional 2,698 shares in the last quarter. NewEdge Advisors LLC increased its position in Navitas Semiconductor by 189.8% in the 2nd quarter. NewEdge Advisors LLC now owns 4,492 shares of the company’s stock worth $29,000 after purchasing an additional 2,942 shares during the last quarter. CWM LLC increased its position in Navitas Semiconductor by 24.7% in the 3rd quarter. CWM LLC now owns 4,515 shares of the company’s stock worth $33,000 after purchasing an additional 893 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Navitas Semiconductor by 116.5% during the 4th quarter. GAMMA Investing LLC now owns 4,736 shares of the company’s stock worth $34,000 after purchasing an additional 2,548 shares in the last quarter. Finally, Parkside Financial Bank & Trust grew its stake in shares of Navitas Semiconductor by 1,376.3% in the 3rd quarter. Parkside Financial Bank & Trust now owns 5,285 shares of the company’s stock valued at $38,000 after buying an additional 4,927 shares in the last quarter. 46.14% of the stock is currently owned by hedge funds and other institutional investors.

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.