Navitas Semiconductor Corporation (NASDAQ:NVTS) Given Consensus Recommendation of "Hold" by Brokerages

Key Points

• Navitas Semiconductor has a consensus “Hold” rating from eight analysts, with an average 12-month price target of $14.74. Analyst views are mixed, ranging from sell to buy.
• The stock recently traded at $13.47, near its 200-day moving average of $13.81 and well below its 52-week high of $34.17. The company has a market cap of about $3.15 billion and a high beta of 3.82, indicating elevated volatility.
• Navitas reported a quarterly EPS loss of $0.04, slightly better than expected, and revenue of $8.6 million, also above estimates. However, revenue fell 38.7% year over year, and insiders have sold a significant amount of stock in recent months.

Navitas Semiconductor Corporation (NASDAQ:NVTS - Get Free Report) has been assigned an average rating of "Hold" from the eight research firms that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, four have given a hold recommendation and two have given a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $14.74.

Several equities research analysts recently issued reports on the company. Wall Street Zen upgraded Navitas Semiconductor from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. Morgan Stanley reissued an "underweight" rating and set a $13.70 price target on shares of Navitas Semiconductor in a research report on Wednesday, May 6th. Needham & Company LLC upped their price objective on shares of Navitas Semiconductor from $13.00 to $21.00 and gave the company a "buy" rating in a report on Wednesday, May 6th. Robert W. Baird raised their price objective on shares of Navitas Semiconductor from $9.00 to $20.00 and gave the stock an "outperform" rating in a research report on Monday, May 4th. Finally, Weiss Ratings raised shares of Navitas Semiconductor from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Wednesday, June 17th.

Navitas Semiconductor Stock Performance

Navitas Semiconductor stock traded down $0.71 during mid-day trading on Friday, reaching $13.47. 11,088,405 shares of the company were exchanged, compared to its average volume of 20,085,114. The firm has a market cap of $3.15 billion, a P/E ratio of -21.38 and a beta of 3.82. Navitas Semiconductor has a 12-month low of $5.44 and a 12-month high of $34.17. The business has a fifty day moving average of $21.38 and a 200 day moving average of $13.81.

Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last announced its earnings results on Tuesday, May 5th. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.01. The company had revenue of $8.60 million during the quarter, compared to the consensus estimate of $8.22 million. Navitas Semiconductor had a negative net margin of 330.67% and a negative return on equity of 14.30%. Navitas Semiconductor's revenue was down 38.7% compared to the same quarter last year. During the same period last year, the firm earned ($0.06) earnings per share. Sell-side analysts predict that Navitas Semiconductor will post -0.39 EPS for the current year.

Insider Activity

In other news, Director Richard J. Hendrix sold 110,165 shares of Navitas Semiconductor stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $28.96, for a total transaction of $3,190,378.40. Following the sale, the director owned 101,709 shares of the company's stock, valued at approximately $2,945,492.64. The trade was a 52.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Chris Allexandre sold 13,323 shares of the company's stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $31.81, for a total value of $423,804.63. Following the completion of the transaction, the chief executive officer owned 1,072,633 shares in the company, valued at $34,120,455.73. This represents a 1.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 3,989,478 shares of company stock worth $116,356,387 over the last quarter. 12.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Navitas Semiconductor

Several large investors have recently modified their holdings of NVTS. Beaird Harris Wealth Management LLC increased its position in shares of Navitas Semiconductor by 247.8% during the second quarter. Beaird Harris Wealth Management LLC now owns 1,739 shares of the company's stock worth $31,000 after acquiring an additional 1,239 shares during the period. Allworth Financial LP boosted its holdings in Navitas Semiconductor by 309.4% in the third quarter. Allworth Financial LP now owns 3,570 shares of the company's stock valued at $26,000 after purchasing an additional 2,698 shares during the period. Geneos Wealth Management Inc. grew its stake in Navitas Semiconductor by 3,200.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 4,125 shares of the company's stock worth $36,000 after purchasing an additional 4,000 shares in the last quarter. NewEdge Advisors LLC grew its stake in Navitas Semiconductor by 189.8% during the 2nd quarter. NewEdge Advisors LLC now owns 4,492 shares of the company's stock worth $29,000 after purchasing an additional 2,942 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in Navitas Semiconductor by 116.5% during the 4th quarter. GAMMA Investing LLC now owns 4,736 shares of the company's stock worth $34,000 after purchasing an additional 2,548 shares during the period. Institutional investors and hedge funds own 46.14% of the company's stock.

Navitas Semiconductor Company Profile

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.

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