Navitas Semiconductor Corporation (NASDAQ:NVTS) Stock Has Consensus Target Price of $14.43 According to Brokerages

Key Points

• Analyst sentiment is mixed: Six analysts give Navitas Semiconductor an average “Hold” rating—four rate it “Buy” and two “Sell.” Their average 12-month price target is $14.43.
• Shares traded at $8.95, down $0.61 during Friday’s session, and were below both their 50-day ($10.31) and 200-day ($13.20) moving averages.
• Latest quarterly results beat estimates: Navitas reported a loss of $0.03 per share versus the $0.04 loss expected, while revenue of $13.99 million exceeded forecasts and rose 38.4% year over year.

Shares of Navitas Semiconductor Corporation (NASDAQ:NVTS - Get Free Report) have received an average rating of "Hold" from the six analysts that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $14.43.

Several analysts recently commented on NVTS shares. Jefferies Financial Group set a $13.00 target price on shares of Navitas Semiconductor in a research note on Tuesday, July 28th. Craig Hallum raised Navitas Semiconductor from a "hold" rating to a "buy" rating and set a $13.00 price target on the stock in a report on Wednesday, November 4th. Needham & Company LLC cut their price objective on Navitas Semiconductor from $21.00 to $15.00 and set a "buy" rating for the company in a research report on Wednesday, November 4th. Weiss Ratings reissued a "sell (d-)" rating on shares of Navitas Semiconductor in a research note on Monday, September 14th. Finally, Rosenblatt Securities raised Navitas Semiconductor from a "neutral" rating to a "buy" rating and set a $13.00 price objective for the company in a research note on Wednesday, November 4th.

Navitas Semiconductor Price Performance

Shares of NASDAQ NVTS traded down $0.61 during mid-day trading on Friday, reaching $8.95. 10,101,070 shares of the company traded hands, compared to its average volume of 13,920,406. Navitas Semiconductor has a fifty-two week low of $6.85 and a fifty-two week high of $34.17. The firm has a market cap of $2.41 billion, a PE ratio of -6.49 and a beta of 4.04. The stock has a fifty day simple moving average of $10.31 and a 200-day simple moving average of $13.20.

Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last issued its quarterly earnings results on Tuesday, November 3rd. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.04) by $0.01. Navitas Semiconductor had a negative return on equity of 11.84% and a negative net margin of 818.84%. The firm had revenue of $13.99 million during the quarter, compared to analyst estimates of $13.42 million. During the same period last year, the company posted ($0.05) EPS. The firm's quarterly revenue was up 38.4% on a year-over-year basis. As a group, analysts predict that Navitas Semiconductor will post -0.32 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Kovack Advisors Inc. acquired a new stake in Navitas Semiconductor during the third quarter valued at $387,000. Bleakley Financial Group LLC increased its holdings in Navitas Semiconductor by 22.0% in the third quarter. Bleakley Financial Group LLC now owns 24,097 shares of the company's stock worth $280,000 after buying an additional 4,349 shares during the last quarter. Voya Investment Management LLC increased its holdings in Navitas Semiconductor by 65.9% in the third quarter. Voya Investment Management LLC now owns 172,382 shares of the company's stock worth $2,001,000 after buying an additional 68,496 shares during the last quarter. Public Sector Pension Investment Board bought a new position in Navitas Semiconductor during the third quarter valued at approximately $3,030,000. Finally, Cibc World Market Inc. lifted its stake in Navitas Semiconductor by 44.9% in the third quarter. Cibc World Market Inc. now owns 45,824 shares of the company's stock valued at $532,000 after acquiring an additional 14,204 shares during the last quarter. 46.14% of the stock is owned by hedge funds and other institutional investors.

Navitas Semiconductor Company Profile

Navitas Semiconductor develops power semiconductors and integrated circuits based on gallium nitride (GaN) and silicon carbide (SiC). Its products are designed to convert and control electrical power more efficiently than conventional silicon-based solutions. The company's portfolio includes GaN power ICs and SiC devices used in applications such as mobile-device charging, data centers, electric vehicles, solar power, energy storage and industrial equipment. Navitas serves customers in markets around the world.

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