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Should You Expect A Quick Recovery From Navitas Semiconductor Corporation (NASDAQ: NVTS) After -82.28% Decline From High?

Navitas Semiconductor Corporation (NASDAQ:NVTS)’s traded shares stood at 2.19 million during the last session. At the close of trading, the stock’s price was $6.04, to imply a decrease of -6.93% or -$0.45 in intraday trading. The NVTS share’s 52-week high remains $11.01, putting it -82.28% down since that peak but still an impressive 48.51% since price per share fell to its 52-week low of $3.11. The company has a valuation of $950.82M, with an average of 1.85 million shares in intraday trading volume over the past 10 days and average of 1.40 million shares over the past 3 months.

Analysts have given a consensus recommendation of a Buy for Navitas Semiconductor Corporation (NVTS), translating to a mean rating of 1.90. Of 8 analyst(s) looking at the stock, 0 analyst(s) give NVTS a Sell rating. 1 of those analysts rate the stock as Overweight while 1 advise Hold as 6 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at -$0.08.

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Navitas Semiconductor Corporation (NASDAQ:NVTS) trade information

After registering a -6.93% downside in the last session, Navitas Semiconductor Corporation (NVTS) has traded red over the past five days. The stock hit a weekly high of 6.81 this Wednesday, 03/15/23, dropping -6.93% in its intraday price action. The 5-day price performance for the stock is -10.52%, and 13.53% over 30 days. With these gigs, the year-to-date price performance is 72.08%. Short interest in Navitas Semiconductor Corporation (NASDAQ:NVTS) saw shorts transact 9.04 million shares and set a 7.35 days time to cover.

Analysts on Wall Street suggest a consensus price target of $8.81, implying an increase of 31.44% to the stock’s current value. The extremes give us $6.00 and $14.00 for target low and target high price respectively. As such, NVTS has been trading -131.79% off suggested target high and 0.66% from its likely low.

Navitas Semiconductor Corporation (NVTS) estimates and forecasts

Looking at statistics comparing Navitas Semiconductor Corporation share performance against respective industry, we note that the company has outperformed competitors. Navitas Semiconductor Corporation (NVTS) shares are 9.82% up over the last 6 months, with its year-to-date growth rate higher than industry average at 7.14% against -9.10%. The rating firms project that company’s revenue will grow 59.30% compared to the previous financial year.

Revenue forecast for the current quarter as set by 8 analysts is $12 million. Meanwhile, for the quarter ending Mar 2023, a total of 7 analyst(s) estimate revenue growth to $13.05 million.Earnings reports from the last fiscal year show that sales brought in $7.34 million and $6.74 million respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 63.50% before jumping 93.60% in the following quarter.

NVTS Dividends

Navitas Semiconductor Corporation has its next earnings report out between May 10 and May 15. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Navitas Semiconductor Corporation has a forward dividend ratio of 0, with the share yield ticking at 0.00% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.

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

Navitas Semiconductor Corporation insiders hold 37.11% of total outstanding shares, with institutional holders owning 20.51% of the shares at 32.61% float percentage. In total, 20.51% institutions holds shares in the company, led by Capricorn Investment Group LLC. As of Sep 29, 2022, the company held over 9.62 million shares (or 6.33% of shares), all amounting to roughly $46.64 million.

The next major institution holding the largest number of shares is BAMCO Inc. with 3.75 million shares, or about 2.46% of shares outstanding. As of the market price on Sep 29, 2022, these shares were worth $18.17 million.

We also have Invesco ETF Tr-Invesco Wilderhill Clean Energy ETF and Baron Discovery Fund as the top two Mutual Funds with the largest holdings of the Navitas Semiconductor Corporation (NVTS) shares. Going by data provided on Dec 30, 2022, Invesco ETF Tr-Invesco Wilderhill Clean Energy ETF holds roughly 2.97 million shares. This is just over 1.96% of the total shares, with a market valuation of $10.43 million. Data from the same date shows that the other fund manager holds a little less at 2.75 million, or 1.81% of the shares, all valued at about 13.34 million.

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