Navitas Semiconductor (NASDAQ:NVTS) Stock Keeps “Neutral” Rating at Rosenblatt Securities

Navitas Semiconductor (NASDAQ:NVTS)‘s stock had its “neutral” rating reiterated by 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 indicate a potential upside of 4.84% from the stock’s current price.

A number of other equities research analysts also recently weighed in on NVTS. Needham & Company LLC reaffirmed a “buy” rating and set a $21.00 price objective on shares of Navitas Semiconductor in a report on Tuesday, July 28th. Jefferies Financial Group set a $13.00 price objective on Navitas Semiconductor in a report on Tuesday, July 28th. Morgan Stanley reaffirmed an “underweight” rating and set a $12.60 price objective on shares of Navitas Semiconductor in a report on Tuesday, July 28th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Navitas Semiconductor in a report on Monday, September 14th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $15.92.

Navitas Semiconductor Trading Up 2.3%

NVTS stock traded up $0.28 during trading on Tuesday, reaching $12.40. 24,655,023 shares of the stock were exchanged, compared to its average volume of 23,632,738. Navitas Semiconductor has a twelve month low of $6.85 and a twelve month high of $34.17. The company has a market capitalization of $3.24 billion, a P/E ratio of -9.32 and a beta of 3.96. The stock has a 50 day simple moving average of $12.01 and a 200-day simple moving average of $15.13.

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Parkside Financial Bank & Trust grew its holdings in shares of Navitas Semiconductor by 19.9% in the 2nd quarter. Parkside Financial Bank & Trust now owns 6,335 shares of the company’s stock valued at $114,000 after buying an additional 1,050 shares during the period. Kestra Advisory Services LLC raised its holdings in Navitas Semiconductor by 2.8% during the first quarter. Kestra Advisory Services LLC now owns 42,189 shares of the company’s stock worth $370,000 after acquiring an additional 1,150 shares in the last quarter. Beaird Harris Wealth Management LLC lifted its stake in Navitas Semiconductor by 247.8% in the 2nd 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 last quarter. Rakuten Securities Inc. acquired a new stake in Navitas Semiconductor in the 2nd quarter valued at about $27,000. Finally, State of Wyoming lifted its stake in Navitas Semiconductor by 92.8% in the 1st quarter. State of Wyoming now owns 4,803 shares of the company’s stock valued at $42,000 after purchasing an additional 2,312 shares during the last quarter. Institutional investors own 46.14% of the company’s stock.

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.