The price of Navitas Semiconductor Corporation (NASDAQ:NVTS) shares last traded on Wall Street rose 4.62% to $8.83.
Based on available information, 9 analysts follow Navitas Semiconductor Corporation (NASDAQ:NVTS). The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $14.00 and a low of $9.20, we find $12.00. Given the previous closing price of $8.44, this indicates a potential upside of 42.18 percent. NVTS stock price is now -6.38% away from the 50-day moving average and 29.18% away from the 200-day moving average. The market capitalization of the company currently stands at $1.50B.
Among analysts, 1 rate the stock a hold while 7 rate it a buy. Brokers who have rated the stock have averaged $11.65 as their price target over the next twelve months.
With the price target of $9.20, Morgan Stanley recently initiated with Equal-Weight rating for Navitas Semiconductor Corporation (NASDAQ: NVTS).
In other news, Sheridan Eugene, President & CEO sold 302,159 shares of the company’s stock on Aug 30. The stock was sold for $2,509,007 at an average price of $8.30. Upon completion of the transaction, the President & CEO now directly owns 1,002,083 shares in the company, valued at $8.85 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 30, COO and CTO Kinzer Daniel M. sold 57,826 shares of the business’s stock. A total of $480,164 was realized by selling the stock at an average price of $8.30. This leaves the insider owning 4,498,315 shares of the company worth $39.72 million. Insiders disposed of 20,048,721 shares of company stock worth roughly $177.03 million over the past 1 year. A total of 16.90% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in NVTS stock. A new stake in Navitas Semiconductor Corporation shares was purchased by TWO SIGMA INVESTMENTS, LP during the first quarter worth $9,101,000. OBERWEIS ASSET MANAGEMENT INC/ invested $5,651,000 in shares of NVTS during the first quarter. In the first quarter, LISANTI CAPITAL GROWTH, LLC acquired a new stake in Navitas Semiconductor Corporation valued at approximately $5,372,000. NUVEEN ASSET MANAGEMENT, LLC acquired a new stake in NVTS for approximately $5,239,000. BALYASNY ASSET MANAGEMENT L.P. purchased a new stake in NVTS valued at around $3,613,000 in the second quarter. In total, there are 151 active investors with 20.40% ownership of the company’s stock.
A candlestick chart of Navitas Semiconductor Corporation (NASDAQ: NVTS) showed a price of $8.47 on Thursday morning. During the past 12 months, Navitas Semiconductor Corporation has had a low of $3.11 and a high of $11.16. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 6.00, and a quick ratio of 5.50. The fifty day moving average price for NVTS is $9.43 and a two-hundred day moving average price translates $6.84 for the stock.
The latest earnings results from Navitas Semiconductor Corporation (NASDAQ: NVTS) was released for Jun, 2023. According to the Semiconductors Company, earnings per share came in at -$0.05, beating analysts’ expectations of -$0.07 by 0.02. This compares to $0.26 EPS in the same period last year. The company reported revenue of $18.06 million for the quarter, compared to $8.61 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 109.75 percent. For the current quarter, analysts expect NVTS to generate $21M in revenue.
Navitas Semiconductor Corporation(NVTS) Company Profile
Navitas Semiconductor Corporation designs, develops, and markets gallium nitride power integrated circuits, silicon carbide, associated high-speed silicon system controllers, and digital isolators used in power conversion and charging. The company’s products are used in mobile, consumer, data center, solar, electric vehicle, industrial motor drive, smart grid, and transportation applications. It operates in the United States, Europe, China, rest of Asia, and internationally. The company was founded in 2013 and is based in Torrance, California.
