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

Navitas Semiconductor (NASDAQ:NVTS)‘s stock had its “neutral” rating reissued by equities research analysts at Rosenblatt Securities in a note issued to investors on Tuesday, Benzinga reports. They presently have a $13.00 price objective on the stock. Rosenblatt Securities’ price target would suggest a potential upside of 8.86% from the company’s current price.

NVTS has been the subject of a number of other research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Navitas Semiconductor in a research note on Monday, September 14th. Morgan Stanley reaffirmed an “underweight” rating and issued a $12.60 price target 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. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $21.00 target price on shares of Navitas Semiconductor in a research report on Tuesday, July 28th. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $15.92.

Navitas Semiconductor Stock Performance

NVTS opened at $11.94 on Tuesday. Navitas Semiconductor has a 52-week low of $6.85 and a 52-week high of $34.17. The business’s 50-day simple moving average is $12.04 and its 200 day simple moving average is $15.14. The firm has a market capitalization of $3.12 billion, a PE ratio of -8.97 and a beta of 3.96.

Navitas Semiconductor (NASDAQ:NVTS) last announced its quarterly earnings results on Monday, July 27th. The company reported ($0.04) EPS for the quarter, meeting analysts’ consensus estimates of ($0.04). Navitas Semiconductor had a negative return on equity of 13.13% and a negative net margin of 856.85%.The company had revenue of $10.53 million during the quarter, compared to analysts’ expectations of $9.97 million. During the same period in the prior year, the company earned ($0.25) EPS. Navitas Semiconductor’s revenue was down 27.3% compared to the same quarter last year. On average, research analysts forecast that Navitas Semiconductor will post -0.31 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of NVTS. Tidal Investments LLC lifted its stake in Navitas Semiconductor by 161.2% in the 2nd quarter. Tidal Investments LLC now owns 1,132,184 shares of the company’s stock worth $20,289,000 after purchasing an additional 698,683 shares in the last quarter. Engineers Gate Manager LP grew its holdings in Navitas Semiconductor by 180.5% during the 2nd quarter. Engineers Gate Manager LP now owns 117,293 shares of the company’s stock valued at $2,102,000 after purchasing an additional 75,478 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in Navitas Semiconductor in the 2nd quarter worth about $121,000. Arizona State Retirement System grew its stake in Navitas Semiconductor by 22.4% in the 2nd quarter. Arizona State Retirement System now owns 57,314 shares of the company’s stock worth $1,027,000 after acquiring an additional 10,486 shares in the last quarter. Finally, Nykredit A S purchased a new stake in shares of Navitas Semiconductor in the 2nd quarter worth approximately $130,000. Hedge funds and other institutional investors own 46.14% of the company’s stock.

Navitas Semiconductor Company Profile

Navitas Semiconductor Corporation is a fabless semiconductor company that develops power-management technologies based on gallium nitride (GaN) and silicon carbide (SiC). Its products are designed to improve the efficiency, power density and size of electronic power systems by integrating power semiconductors with control, drive and protection circuitry.

The company offers GaN power integrated circuits, SiC MOSFETs and related power-management solutions for applications including mobile and consumer chargers, data centers, solar and energy-storage systems, electric vehicles, industrial equipment and other high-power systems.