Navitas Semiconductor’s (NVTS) “Neutral” Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities reissued their neutral rating on shares of Navitas Semiconductor (NASDAQ:NVTS) in a report issued on Tuesday,Benzinga reports. They currently have a $13.00 price target on the stock.

Other analysts have also issued research reports about the stock. Robert W. Baird raised their price target on shares of Navitas Semiconductor from $9.00 to $20.00 and gave the company an “outperform” rating in a research report on Monday, May 4th. Wall Street Zen upgraded shares of Navitas Semiconductor from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Needham & Company LLC reissued a “buy” rating and set a $21.00 target price on shares of Navitas Semiconductor in a research note on Tuesday. Weiss Ratings raised shares of Navitas Semiconductor from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, June 17th. Finally, Jefferies Financial Group set a $13.00 target price on Navitas Semiconductor in a research report on Tuesday. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Navitas Semiconductor currently has an average rating of “Hold” and a consensus price target of $14.27.

Navitas Semiconductor Trading Up 13.2%

Navitas Semiconductor stock opened at $11.01 on Tuesday. The firm has a market cap of $2.57 billion, a PE ratio of -8.28 and a beta of 3.82. Navitas Semiconductor has a 12 month low of $5.44 and a 12 month high of $34.17. The stock’s 50 day simple moving average is $19.11 and its two-hundred day simple moving average is $14.19.

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 the consensus estimate of ($0.04). Navitas Semiconductor had a negative net margin of 856.85% and a negative return on equity of 13.13%. The firm had revenue of $10.53 million during the quarter, compared to analyst estimates of $9.97 million. During the same period in the previous year, the firm earned ($0.25) EPS. The business’s quarterly revenue was down 27.3% on a year-over-year basis. On average, equities research analysts forecast that Navitas Semiconductor will post -0.38 EPS for the current year.

Insiders Place Their Bets

In related news, Director Richard J. Hendrix sold 110,165 shares of the business’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $28.96, for a total value of $3,190,378.40. Following the completion of the sale, the director owned 101,709 shares of the company’s stock, valued at approximately $2,945,492.64. The trade was a 52.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ranbir Singh sold 3,060,118 shares of the business’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $29.29, for a total transaction of $89,630,856.22. Following the completion of the sale, the director directly owned 15,607,533 shares of the company’s stock, valued at approximately $457,144,641.57. The trade was a 16.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 3,989,478 shares of company stock worth $116,356,387. Corporate insiders own 12.40% of the company’s stock.

Hedge Funds Weigh In On Navitas Semiconductor

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Beaird Harris Wealth Management LLC grew its position in shares of Navitas Semiconductor by 247.8% in the second quarter. Beaird Harris Wealth Management LLC now owns 1,739 shares of the company’s stock valued at $31,000 after purchasing an additional 1,239 shares during the period. Allworth Financial LP increased its stake in shares of Navitas Semiconductor by 309.4% during the third quarter. Allworth Financial LP now owns 3,570 shares of the company’s stock worth $26,000 after purchasing an additional 2,698 shares in the last quarter. Geneos Wealth Management Inc. raised its position in shares of Navitas Semiconductor by 3,200.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 4,125 shares of the company’s stock worth $36,000 after purchasing an additional 4,000 shares during the last quarter. NewEdge Advisors LLC raised its position in shares of Navitas Semiconductor by 189.8% during 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. Finally, GAMMA Investing LLC lifted its stake in Navitas Semiconductor by 116.5% in the 4th quarter. GAMMA Investing LLC now owns 4,736 shares of the company’s stock valued at $34,000 after buying an additional 2,548 shares in the last quarter. 46.14% of the stock is 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.