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Navitas Semiconductor Corporation (NASDAQ:NVTS) Drops -51.10% In 2022; Is It Affordable At $4.89?

In last trading session, Navitas Semiconductor Corporation (NASDAQ:NVTS) saw 1.34 million shares changing hands with its beta currently measuring 0. Company’s recent per share price level of $4.89 trading at -$0.48 or -8.94% at ring of the bell on the day assigns it a market valuation of $755.55M. That closing price of NVTS’s stock is at a discount of -353.78% from its 52-week high price of $22.19 and is indicating a premium of 28.22% from its 52-week low price of $3.51. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 1.16 million shares which gives us an average trading volume of 1.28 million if we extend that period to 3-months.

Navitas Semiconductor Corporation (NASDAQ:NVTS) trade information

Upright in the red during last session for losing -8.94%, in the last five days NVTS remained trading in the red while hitting it’s week-highest on Friday, 09/16/22 when the stock touched $4.89 price level, adding 16.98% to its value on the day. Navitas Semiconductor Corporation’s shares saw a change of -71.25% in year-to-date performance and have moved -17.40% in past 5-day. Navitas Semiconductor Corporation (NASDAQ:NVTS) showed a performance of -10.85% in past 30-days. Number of shares sold short was 5.56 million shares which calculate 4.4 days to cover the short interests.

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Navitas Semiconductor Corporation (NVTS) estimates and forecasts

Statistics highlight that Navitas Semiconductor Corporation is scoring comparatively higher than the scores of other players of the relevant industry. The company lost -47.31% of value to its shares in past 6 months, showing an annual growth rate of 55.56% while that of industry is 13.20. Apart from that, the company came raising its revenue forecast for fiscal year 2022. This year revenue growth is estimated to rise 92.40% from the last financial year’s standing.

8 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $8.5 million for the same. And 8 analysts are in estimates of company making revenue of $12.62 million in the next quarter that will end on Sep 2022.

NVTS Dividends

Navitas Semiconductor Corporation is more likely to be releasing its next quarterly report between March 23 and March 28 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

Navitas Semiconductor Corporation (NASDAQ:NVTS)’s Major holders

Insiders are in possession of 30.30% of company’s total shares while institution are holding 32.84 percent of that, with stock having share float percentage of 47.11%. Investors also watch the number of corporate investors in a company very closely, which is 32.84% institutions for Navitas Semiconductor Corporation that are currently holding shares of the company. Capricorn Investment Group LLC is the top institutional holder at NVTS for having 9.62 million shares of worth $37.12 million. And as of Jun 29, 2022, it was holding 7.77% of the company’s outstanding shares.

The second largest institutional holder is State Street Corporation, which was holding about 4.34 million shares on Mar 30, 2022. The number of shares represents firm’s hold over 3.51% of outstanding shares, having a total worth of $44.63 million.

On the other hand, Invesco ETF Tr-Invesco Wilderhill Clean Energy ETF and SPDR (R) Ser Tr-SPDR (R) S&P (R) Semiconductor ETF are the top two Mutual Funds which own company’s shares. As of Jun 29, 2022, the former fund manager was holding 2.82 million shares of worth $10.87 million or 2.28% of the total outstanding shares. The later fund manager was in possession of 2.57 million shares on Jun 29, 2022, making its stake of worth around $9.91 million in the company or a holder of 2.08% of company’s stock.

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