Navitas Semiconductor (NASDAQ:NVTS) Given New $21.00 Price Target at Needham & Company LLC

Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) had its price objective boosted by research analysts at Needham & Company LLC from $13.00 to $21.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Needham & Company LLC's price target would indicate a potential upside of 19.66% from the company's current price.

Other equities analysts have also issued research reports about the stock. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Navitas Semiconductor in a research report on Tuesday, April 21st. Robert W. Baird upped their price target on shares of Navitas Semiconductor from $9.00 to $20.00 and gave the stock an "outperform" rating in a research report on Monday. Finally, Rosenblatt Securities reiterated a "neutral" rating and set a $7.00 price objective on shares of Navitas Semiconductor in a research note on Thursday, March 12th. Two analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $10.32.

Navitas Semiconductor Stock Performance

Shares of NVTS stock opened at $17.55 on Wednesday. Navitas Semiconductor has a one year low of $1.80 and a one year high of $19.79. The company has a 50 day moving average price of $10.78 and a 200 day moving average price of $9.94. The firm has a market capitalization of $4.05 billion, a price-to-earnings ratio of -30.79 and a beta of 3.62.

Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.01. Navitas Semiconductor had a negative net margin of 254.71% and a negative return on equity of 14.52%. The firm had revenue of $8.60 million during the quarter, compared to analyst estimates of $8.22 million. During the same quarter in the prior year, the business posted ($0.06) earnings per share. Navitas Semiconductor's revenue for the quarter was down 38.7% compared to the same quarter last year. As a group, equities analysts forecast that Navitas Semiconductor will post -0.26 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Todd Glickman sold 98,152 shares of the firm's stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $10.78, for a total transaction of $1,058,078.56. Following the completion of the sale, the chief financial officer directly owned 735,231 shares of the company's stock, valued at approximately $7,925,790.18. This trade represents a 11.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Chris Allexandre sold 9,236 shares of the firm's stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $8.93, for a total transaction of $82,477.48. Following the sale, the chief executive officer directly owned 813,323 shares of the company's stock, valued at approximately $7,262,974.39. The trade was a 1.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 509,016 shares of company stock worth $4,967,814 over the last ninety days. 29.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Independent Financial Group LLC acquired a new position in Navitas Semiconductor during the 1st quarter worth $130,000. Bank of New York Mellon Corp grew its holdings in Navitas Semiconductor by 21.8% during the 1st quarter. Bank of New York Mellon Corp now owns 566,465 shares of the company's stock worth $4,968,000 after acquiring an additional 101,389 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings 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 acquiring an additional 4,000 shares in the last quarter. NFSG Corp grew its holdings in Navitas Semiconductor by 54.3% during the 1st quarter. NFSG Corp now owns 204,972 shares of the company's stock worth $1,798,000 after acquiring an additional 72,098 shares in the last quarter. Finally, Sanctuary Advisors LLC grew its holdings in Navitas Semiconductor by 48.4% during the 1st quarter. Sanctuary Advisors LLC now owns 16,761 shares of the company's stock worth $147,000 after acquiring an additional 5,464 shares in the last quarter. 46.14% of the stock is currently owned by institutional investors.

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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