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

Navitas Semiconductor (NASDAQ:NVTS)‘s stock had its “neutral” rating reaffirmed by equities researchers at Rosenblatt Securities in a note issued to investors on Tuesday, Benzinga reports. They currently have a $13.00 target price on the stock. Rosenblatt Securities’ price target would suggest a potential upside of 4.84% from the company’s current price.

A number of other brokerages have also recently commented on NVTS. Needham & Company LLC restated a “buy” rating and set a $21.00 target price on shares of Navitas Semiconductor in a report on Tuesday, July 28th. Morgan Stanley reiterated an “underweight” rating and issued a $12.60 price target on shares of Navitas Semiconductor in a research note on Tuesday, July 28th. Weiss Ratings restated a “sell (d-)” rating on shares of Navitas Semiconductor in a research note on Monday, September 14th. Finally, Jefferies Financial Group set a $13.00 target price on shares of Navitas Semiconductor in a research note on Tuesday, July 28th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Navitas Semiconductor presently has an average rating of “Hold” and an average target price of $15.92.

Navitas Semiconductor Stock Performance

NVTS stock opened at $12.40 on Tuesday. The company has a market capitalization of $3.24 billion, a PE ratio of -9.32 and a beta of 3.96. Navitas Semiconductor has a one year low of $6.85 and a one year high of $34.17. The company’s 50 day moving average price is $12.04 and its two-hundred day moving average price is $15.14.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Rakuten Securities Inc. bought a new stake in Navitas Semiconductor in the second quarter worth $27,000. Beaird Harris Wealth Management LLC increased its stake in shares of Navitas Semiconductor by 247.8% during the second quarter. Beaird Harris Wealth Management LLC now owns 1,739 shares of the company’s stock valued at $31,000 after buying an additional 1,239 shares during the period. Global Retirement Partners LLC purchased a new position in shares of Navitas Semiconductor during the second quarter valued at $66,000. Compass Financial Management LLC purchased a new position in shares of Navitas Semiconductor during the second quarter valued at $71,000. Finally, Geneos Wealth Management Inc. grew its stake in Navitas Semiconductor by 3,200.0% in the first quarter. Geneos Wealth Management Inc. now owns 4,125 shares of the company’s stock valued at $36,000 after purchasing an additional 4,000 shares during the last quarter. 46.14% of the stock is owned by hedge funds and other institutional investors.

About Navitas Semiconductor

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.