Navitas Semiconductor Corporation (NASDAQ:NVTS) Given Average Recommendation of "Hold" by Analysts

Key Points

• Analysts hold a neutral view: Navitas Semiconductor has a consensus “Hold” rating from six analysts, split evenly among buy, hold and sell recommendations. The average 12-month price target is $15.92, above the reported share price of $11.49.
• Quarterly results met expectations but remain weak: The company posted an adjusted loss of $0.04 per share, matching estimates, while revenue of $10.53 million exceeded forecasts. Revenue declined 27.3% year over year, and analysts expect a full-year loss of $0.31 per share.
• Institutional ownership is significant: Major investors including BlackRock, Vanguard, State Street, Invesco and Geode increased or initiated positions, with institutions collectively owning 46.14% of the stock.

Navitas Semiconductor Corporation (NASDAQ:NVTS - Get Free Report) has received a consensus recommendation of "Hold" from the six research firms that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and two have given a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $15.92.

NVTS has been the topic of a number of analyst reports. Rosenblatt Securities restated a "neutral" rating and issued a $13.00 target price on shares of Navitas Semiconductor in a report on Tuesday, July 28th. Morgan Stanley reissued an "underweight" rating and set a $12.60 price objective on shares of Navitas Semiconductor in a report on Tuesday, July 28th. Weiss Ratings raised Navitas Semiconductor from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Wednesday, June 17th. Jefferies Financial Group set a $13.00 target price on Navitas Semiconductor in a research note on Tuesday, July 28th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $21.00 price target on shares of Navitas Semiconductor in a research report on Tuesday, July 28th.

Navitas Semiconductor Stock Performance

Shares of NASDAQ NVTS opened at $11.49 on Monday. Navitas Semiconductor has a 1-year low of $5.44 and a 1-year high of $34.17. The business's 50 day moving average is $13.69 and its 200-day moving average is $14.67. The firm has a market cap of $3.00 billion, a P/E ratio of -8.64 and a beta of 3.86.

Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last announced its quarterly earnings data on Monday, July 27th. The company reported ($0.04) earnings per share for the quarter, hitting the consensus estimate of ($0.04). Navitas Semiconductor had a negative return on equity of 13.13% and a negative net margin of 856.85%.The business had revenue of $10.53 million during the quarter, compared to the consensus estimate of $9.97 million. During the same period in the prior year, the company earned ($0.25) EPS. Navitas Semiconductor's revenue for the quarter was down 27.3% on a year-over-year basis. Analysts forecast that Navitas Semiconductor will post -0.31 EPS for the current year.

Institutional Investors Weigh In On Navitas Semiconductor

Several institutional investors have recently added to or reduced their stakes in NVTS. BlackRock Inc. purchased a new position in shares of Navitas Semiconductor in the second quarter worth about $290,970,000. Vanguard Group Inc. lifted its stake in shares of Navitas Semiconductor by 10.0% during the 4th quarter. Vanguard Group Inc. now owns 14,691,351 shares of the company's stock valued at $104,896,000 after buying an additional 1,330,703 shares in the last quarter. State Street Corp boosted its holdings in Navitas Semiconductor by 18.0% in the 4th quarter. State Street Corp now owns 8,597,950 shares of the company's stock worth $61,389,000 after buying an additional 1,308,626 shares during the period. Invesco Ltd. boosted its holdings in Navitas Semiconductor by 257.8% in the 4th quarter. Invesco Ltd. now owns 4,737,624 shares of the company's stock worth $33,827,000 after buying an additional 3,413,394 shares during the period. Finally, Geode Capital Management LLC grew its stake in Navitas Semiconductor by 12.8% in the 4th quarter. Geode Capital Management LLC now owns 4,417,408 shares of the company's stock valued at $31,546,000 after buying an additional 501,110 shares in the last quarter. 46.14% of the stock is owned by hedge funds and other institutional investors.

About Navitas Semiconductor

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source