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

Key Points

• Rosenblatt Securities reiterated its Neutral rating on Navitas Semiconductor and set a $13.00 price target, implying about 10.8% upside from the referenced $11.73 share price.
• Analyst sentiment remains mixed, with two Buy, two Hold, and two Sell ratings; the consensus rating is Hold with an average target price of $15.92.
• Navitas matched quarterly EPS expectations at a loss of $0.04 per share and exceeded revenue estimates with $10.53 million, though revenue declined 27.3% year over year and the company remains unprofitable.

Navitas Semiconductor (NASDAQ:NVTS - Get Free Report)'s stock had its "neutral" rating restated by stock analysts at Rosenblatt Securities in a report released on Tuesday, Benzinga reports. They currently have a $13.00 price objective on the stock. Rosenblatt Securities' price objective indicates a potential upside of 10.83% from the company's current price.

A number of other equities analysts have also weighed in on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of Navitas Semiconductor in a report on Monday, September 14th. Morgan Stanley reaffirmed an "underweight" rating and set a $12.60 price target on shares of Navitas Semiconductor in a research note on Tuesday, July 28th. Needham & Company LLC reaffirmed a "buy" rating and set a $21.00 price target on shares of Navitas Semiconductor in a research note on Tuesday, July 28th. Finally, Jefferies Financial Group set a $13.00 price target on shares of Navitas Semiconductor in a research note on Tuesday, July 28th. Two equities 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 stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $15.92.

Navitas Semiconductor Price Performance

NASDAQ NVTS opened at $11.73 on Tuesday. Navitas Semiconductor has a 1 year low of $6.79 and a 1 year high of $34.17. The company has a market capitalization of $3.06 billion, a PE ratio of -8.82 and a beta of 3.88. The company has a fifty day moving average of $12.06 and a two-hundred day moving average of $15.10.

Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last posted its quarterly 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). 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 analysts' expectations of $9.97 million. During the same period in the prior year, the company posted ($0.25) earnings per share. The firm's revenue for the quarter was down 27.3% on a year-over-year basis. On average, research analysts expect that Navitas Semiconductor will post -0.31 earnings per share for the current year.

Institutional Trading of Navitas Semiconductor

Several large investors have recently added to or reduced their stakes in the business. Rakuten Securities Inc. bought a new stake in shares of Navitas Semiconductor during the 2nd quarter worth $27,000. Beaird Harris Wealth Management LLC boosted its holdings 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 period. Geneos Wealth Management Inc. boosted its holdings in Navitas Semiconductor by 3,200.0% in the 1st 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 period. State of Wyoming boosted its holdings 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 period. Finally, Sarver Vrooman Wealth Advisors acquired a new position in shares of Navitas Semiconductor in the 4th quarter valued at $45,000. 46.14% of the stock is owned by institutional investors.

Key Stories Impacting Navitas Semiconductor

Here are the key news stories impacting Navitas Semiconductor this week:

• Positive Sentiment: The U.S. government selected Navitas for the ALATTIS program to develop next-generation 10 kV silicon carbide power semiconductors. The technology could support advanced defense and high-power applications, strengthening Navitas’ strategic position and expanding its relationship with the U.S. government. U.S. Government Selects Navitas to Develop Next-Generation 10 kV SiC Power Semiconductors
• Positive Sentiment: The Army-related award fueled continued investor momentum and helped drive reports of a sharp after-hours surge. Investors appear to view the program as evidence of demand for Navitas’ GeneSiC silicon carbide products and as a potential source of future commercial opportunities. Navitas Stock Extends Gains After Army Selects It for SiC Power Chip Development
• Neutral Sentiment: Rosenblatt Securities reaffirmed its Neutral rating while setting a $13.00 price target, implying approximately 10.8% potential upside from the referenced $11.73 price. The cautious rating suggests the firm sees opportunity but is not yet convinced that the government program changes Navitas’ broader earnings outlook. Rosenblatt Securities rating update

About Navitas Semiconductor

Navitas Semiconductor Corporation NASDAQ: NVTS develops gallium nitride (GaN) and silicon carbide (SiC) power semiconductor technologies. Its products are designed to improve the efficiency, power density and size of power-conversion systems used in electronic devices and infrastructure.

The company offers GaN power integrated circuits, including its GaNFast product family, as well as SiC devices and related technologies marketed under the GeneSiC brand. Its products are used in applications such as mobile and consumer chargers, data centers, solar and energy-storage systems, electric vehicles, appliances, industrial equipment and other high-power systems.

Founded in 2014, Navitas is headquartered in Torrance, California, and serves customers and markets internationally.