Navitas Semiconductor Corporation (NASDAQ:NVTS) Stock Rated "Hold" by Sell-Side Analysts

Key Points

• Analysts have a consensus “Hold” rating on Navitas Semiconductor, with two sell, two hold and two buy recommendations. The average 12-month price target is $15.92, above the reported share price of $8.63.
• Navitas reported quarterly revenue of $10.53 million, exceeding expectations of $9.97 million, while matching the consensus loss of $0.04 per share. Revenue declined 27.3% year over year, and analysts project a full-year loss of $0.31 per share.
• Institutional investors and hedge funds own 46.14% of the company, with several firms recently increasing their positions. Navitas develops gallium nitride and silicon carbide power semiconductor products for applications including data centers, electric vehicles and energy systems.

Navitas Semiconductor Corporation (NASDAQ:NVTS - Get Free Report) has earned a consensus recommendation of "Hold" from the six analysts that are presently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $15.92.

NVTS has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of Navitas Semiconductor in a report on Monday, September 14th. Morgan Stanley reissued an "underweight" rating and issued a $12.60 price objective on shares of Navitas Semiconductor in a research note on Tuesday, July 28th. Jefferies Financial Group set a $13.00 price objective on Navitas Semiconductor in a report on Tuesday, July 28th. 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. Finally, Wall Street Zen lowered shares of Navitas Semiconductor from a "hold" rating to a "sell" rating in a report on Saturday, October 3rd.

Navitas Semiconductor Trading Up 3.5%

Navitas Semiconductor stock opened at $8.63 on Tuesday. Navitas Semiconductor has a 1-year low of $6.85 and a 1-year high of $34.17. The firm has a market cap of $2.25 billion, a P/E ratio of -6.49 and a beta of 3.96. The firm has a 50-day moving average of $11.73 and a 200-day moving average of $15.25.

Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last posted its earnings results on Monday, July 27th. The company reported ($0.04) 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 last year, the company posted ($0.25) EPS. The company's quarterly revenue was down 27.3% compared to the same quarter last year. Research analysts forecast that Navitas Semiconductor will post -0.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Navitas Semiconductor

Institutional investors have recently bought and sold shares of the company. Parkside Financial Bank & Trust lifted its stake 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 purchasing an additional 1,050 shares during the last quarter. Kestra Advisory Services LLC grew its holdings in shares of Navitas Semiconductor by 2.8% during the 1st quarter. Kestra Advisory Services LLC now owns 42,189 shares of the company's stock worth $370,000 after purchasing an additional 1,150 shares during the period. Beaird Harris Wealth Management LLC increased its position in shares of Navitas Semiconductor by 247.8% during the 2nd quarter. Beaird Harris Wealth Management LLC now owns 1,739 shares of the company's stock worth $31,000 after purchasing an additional 1,239 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Navitas Semiconductor by 23.6% during the 3rd quarter. GAMMA Investing LLC now owns 7,117 shares of the company's stock worth $83,000 after purchasing an additional 1,359 shares during the last quarter. Finally, Rakuten Securities Inc. acquired a new stake in shares of Navitas Semiconductor during the 2nd quarter worth about $27,000. 46.14% of the stock is currently owned by institutional investors and hedge funds.

Navitas Semiconductor Company Profile

Navitas Semiconductor Corporation NASDAQ: NVTS develops power semiconductor technologies designed to improve the efficiency, performance and size of electronic systems. The company specializes in gallium nitride (GaN) power integrated circuits and silicon carbide (SiC) devices, which are used to convert and manage electrical power.

Its product portfolio includes GaNFast power ICs, GeneSiC silicon carbide products and related power-management solutions. These technologies are used in applications such as mobile and consumer chargers, data centers, solar inverters, electric vehicles, energy storage systems, appliances and industrial equipment.

Founded in 2014, Navitas serves customers and markets globally through its semiconductor products and engineering support.

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