Robert W. Baird Forecasts Strong Price Appreciation for Navitas Semiconductor (NASDAQ:NVTS) Stock

Key Points

• Robert W. Baird raised its price target on Navitas Semiconductor to $20 (from $9) and maintained an "outperform" rating, implying roughly a 14.6% upside from the prior close.
• Analyst sentiment is mixed and more cautious overall, with a consensus rating of "Hold," a consensus price target of $8.98, and a breakdown of 2 Buys, 5 Holds and 1 Sell.
• Corporate insiders have been net sellers recently—CFO Todd Glickman sold 98,152 shares and insiders sold 509,016 shares worth about $4.97M last quarter—though insiders still own about 29.9% of the company.

Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) had its price target lifted by research analysts at Robert W. Baird from $9.00 to $20.00 in a research report issued on Monday,Benzinga reports. The firm presently has an "outperform" rating on the stock. Robert W. Baird's price objective indicates a potential upside of 14.61% from the stock's previous close.

NVTS has been the topic of several other research reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Navitas Semiconductor in a research note on Tuesday, April 21st. Rosenblatt Securities reissued a "neutral" rating and issued a $7.00 price target on shares of Navitas Semiconductor in a research note on Thursday, March 12th. Two investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $8.98.

Navitas Semiconductor Price Performance

NASDAQ NVTS opened at $17.45 on Monday. The firm has a market cap of $4.03 billion, a PE ratio of -30.61 and a beta of 3.62. The stock's 50 day simple moving average is $10.59 and its 200 day simple moving average is $9.92. Navitas Semiconductor has a one year low of $1.80 and a one year high of $19.79.

Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last announced its quarterly earnings data on Tuesday, February 24th. The company reported ($0.05) EPS for the quarter, meeting analysts' consensus estimates of ($0.05). Navitas Semiconductor had a negative return on equity of 14.52% and a negative net margin of 254.71%.The firm had revenue of $7.30 million for the quarter, compared to analyst estimates of $6.95 million. During the same period last year, the company earned ($0.06) EPS. The business's quarterly revenue was down 59.4% compared to the same quarter last year. As a group, equities analysts expect that Navitas Semiconductor will post -0.26 earnings per share for the current year.

Insider Activity

In other news, CFO Todd Glickman sold 98,152 shares of the firm's stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $10.78, for a total value of $1,058,078.56. Following the completion of 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Chris Allexandre sold 9,236 shares of the firm's stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $8.93, for a total value of $82,477.48. Following the completion of the transaction, the chief executive officer owned 813,323 shares of the company's stock, valued at $7,262,974.39. The trade was a 1.12% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 509,016 shares of company stock worth $4,967,814 in the last quarter. Corporate insiders own 29.90% of the company's stock.

Hedge Funds Weigh In On Navitas Semiconductor

Several hedge funds have recently modified their holdings of NVTS. Allworth Financial LP grew its holdings in shares of Navitas Semiconductor by 309.4% in the 3rd quarter. Allworth Financial LP now owns 3,570 shares of the company's stock valued at $26,000 after acquiring an additional 2,698 shares in the last quarter. NewEdge Advisors LLC grew its holdings in shares of Navitas Semiconductor by 189.8% in the 2nd quarter. NewEdge Advisors LLC now owns 4,492 shares of the company's stock valued at $29,000 after acquiring an additional 2,942 shares in the last quarter. CWM LLC grew its holdings in shares of Navitas Semiconductor by 24.7% in the 3rd quarter. CWM LLC now owns 4,515 shares of the company's stock valued at $33,000 after acquiring an additional 893 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Navitas Semiconductor by 116.5% in the 4th quarter. GAMMA Investing LLC now owns 4,736 shares of the company's stock valued at $34,000 after acquiring an additional 2,548 shares in the last quarter. Finally, Parkside Financial Bank & Trust grew its holdings in shares of Navitas Semiconductor by 1,376.3% in the 3rd quarter. Parkside Financial Bank & Trust now owns 5,285 shares of the company's stock valued at $38,000 after acquiring an additional 4,927 shares in the last quarter. Institutional investors own 46.14% of the company's stock.

About Navitas Semiconductor

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.