Navitas Semiconductor (NASDAQ:NVTS) Raised to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded Navitas Semiconductor from “sell” to “hold”, while the broader analyst view remains cautious: the stock’s average rating is now Hold with an average price target of $12.87.
• The company reported its latest quarterly results with EPS of -$0.04, slightly better than estimates, and revenue of $8.6 million, also above expectations. However, revenue still fell 38.7% year over year.
• Navitas shares were up 15.3% and opened at $18.20, near their 52-week high of $19.79. Insider selling has also been notable, with executives selling shares over the past three months.

Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued on Saturday.

A number of other equities analysts also recently issued reports on the company. Rosenblatt Securities raised their price target on Navitas Semiconductor from $7.00 to $13.00 and gave the stock a "neutral" rating in a research note on Wednesday. Robert W. Baird raised their price target on Navitas Semiconductor from $9.00 to $20.00 and gave the stock an "outperform" rating in a research note on Monday, May 4th. Needham & Company LLC raised their price target on Navitas Semiconductor from $13.00 to $21.00 and gave the stock a "buy" rating in a research note on Wednesday. Morgan Stanley reiterated an "underweight" rating and issued a $13.70 price target on shares of Navitas Semiconductor in a research report on Wednesday. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Navitas Semiconductor in a research report on Tuesday, April 21st. Two research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $12.87.

Navitas Semiconductor Trading Up 15.3%

Navitas Semiconductor stock opened at $18.20 on Friday. The firm has a market cap of $4.20 billion, a price-to-earnings ratio of -28.89 and a beta of 3.62. Navitas Semiconductor has a 12 month low of $1.83 and a 12 month high of $19.79. The stock has a fifty day simple moving average of $11.11 and a two-hundred day simple moving average of $9.96.

Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.05) by $0.01. The firm had revenue of $8.60 million for the quarter, compared to the consensus estimate of $8.22 million. Navitas Semiconductor had a negative return on equity of 14.30% and a negative net margin of 330.67%.The company's revenue for the quarter was down 38.7% on a year-over-year basis. During the same period last year, the business posted ($0.06) EPS. On average, equities research analysts forecast that Navitas Semiconductor will post -0.26 EPS for the current fiscal year.

Insider Activity at Navitas Semiconductor

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

Hedge Funds Weigh In On Navitas Semiconductor

Several institutional investors and hedge funds have recently bought and sold shares of NVTS. Diversify Advisory Services LLC purchased a new position in shares of Navitas Semiconductor in the third quarter valued at about $960,000. Newbridge Financial Services Group Inc. lifted its position in shares of Navitas Semiconductor by 1,425.5% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 132,874 shares of the company's stock valued at $949,000 after acquiring an additional 124,164 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Navitas Semiconductor by 23.6% in the third quarter. Vanguard Group Inc. now owns 13,360,648 shares of the company's stock valued at $96,464,000 after acquiring an additional 2,550,613 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Navitas Semiconductor in the third quarter valued at about $2,188,000. Finally, RFG Advisory LLC purchased a new position in shares of Navitas Semiconductor in the fourth quarter valued at about $3,894,000. 46.14% of the stock is currently owned by hedge funds and other 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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