Navitas Semiconductor (NASDAQ:NVTS) Announces Quarterly Earnings Results

Navitas Semiconductor (NASDAQ:NVTS) issued its quarterly earnings results on Tuesday. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.05), FiscalAI reports. The business had revenue of $7.30 million for the quarter, compared to the consensus estimate of $6.95 million. Navitas Semiconductor had a negative return on equity of 14.86% and a negative net margin of 220.85%.

Navitas Semiconductor Stock Up 1.7%

Shares of NASDAQ:NVTS traded up $0.14 during midday trading on Tuesday, reaching $8.26. The company’s stock had a trading volume of 19,464,653 shares, compared to its average volume of 24,273,877. The stock has a fifty day moving average of $8.79 and a 200 day moving average of $8.62. Navitas Semiconductor has a twelve month low of $1.52 and a twelve month high of $17.79. The firm has a market capitalization of $1.90 billion, a PE ratio of -12.91 and a beta of 3.16.

Insider Activity at Navitas Semiconductor

In related news, Director Gary Kent Wunderlich, Jr. sold 78,649 shares of Navitas Semiconductor stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $9.25, for a total transaction of $727,503.25. Following the completion of the transaction, the director directly owned 136,615 shares in the company, valued at approximately $1,263,688.75. This trade represents a 36.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Todd Glickman sold 78,307 shares of the business’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $9.77, for a total value of $765,059.39. Following the completion of the transaction, the chief financial officer directly owned 813,279 shares of the company’s stock, valued at $7,945,735.83. The trade was a 8.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 3,330,240 shares of company stock valued at $28,340,442 over the last ninety days. Corporate insiders own 29.90% of the company’s stock.

Hedge Funds Weigh In On Navitas Semiconductor

Large investors have recently made changes to their positions in the company. American Century Companies Inc. grew its position in Navitas Semiconductor by 104.8% during the second quarter. American Century Companies Inc. now owns 241,450 shares of the company’s stock valued at $1,581,000 after buying an additional 123,577 shares during the period. Prudential Financial Inc. purchased a new stake in shares of Navitas Semiconductor during the 2nd quarter worth about $120,000. New York State Common Retirement Fund grew its position in shares of Navitas Semiconductor by 102.7% during the 2nd quarter. New York State Common Retirement Fund now owns 40,255 shares of the company’s stock valued at $264,000 after acquiring an additional 20,400 shares during the period. Invesco Ltd. increased its stake in shares of Navitas Semiconductor by 75.2% in the 2nd quarter. Invesco Ltd. now owns 3,206,008 shares of the company’s stock valued at $20,999,000 after purchasing an additional 1,376,205 shares in the last quarter. Finally, Baird Financial Group Inc. increased its stake in shares of Navitas Semiconductor by 2,514.3% in the 2nd quarter. Baird Financial Group Inc. now owns 419,237 shares of the company’s stock valued at $2,746,000 after purchasing an additional 403,201 shares in the last quarter. 46.14% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently issued reports on NVTS shares. Rosenblatt Securities reaffirmed a “neutral” rating and set a $8.00 target price on shares of Navitas Semiconductor in a research report on Monday, November 10th. Jefferies Financial Group raised shares of Navitas Semiconductor to a “hold” rating in a research report on Tuesday, October 28th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Navitas Semiconductor in a research note on Thursday, January 22nd. Finally, Needham & Company LLC upped their price target on shares of Navitas Semiconductor from $8.00 to $13.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $6.48.

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.