Navitas Semiconductor Corp (NASDAQ: NVTS) Could Make Significant Gains?

In the last trading session, 2.06 million Navitas Semiconductor Corp (NASDAQ:NVTS) shares changed hands as the company’s beta touched 2.64. With the company’s per share price at $7.09 changed hands at $0.16 or 2.31% during last session, the market valuation stood at $1.27B. NVTS’s last price was a discount, traded about -57.4% off its 52-week high of $11.16. The share price had its 52-week low at $3.11, which suggests the last value was 56.14% up since then. When we look at Navitas Semiconductor Corp’s average trading volume, we note the 10-day average is 2.17 million shares, with the 3-month average coming to 1.93 million.

Analysts gave the Navitas Semiconductor Corp (NVTS) stock a consensus recommendation rating of a Buy, calculated at a mean rating of 1.44. If we narrow down to specifics, the data shows that 0 out of 9 analysts rate the stock as a Sell, with a further 2 assigning it an Overweight rating. Of the remaining, 1 recommended NVTS as a Hold, 6 felt it is a Buy and 0 rated the stock as Underweight. Navitas Semiconductor Corp’s EPS for the current quarter is expected to be -$0.05.

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Navitas Semiconductor Corp (NASDAQ:NVTS) trade information

Instantly NVTS was in green as seen at the end of in last trading. With action 17.97%, the performance over the past five days has been green. The jump to weekly highs of 7.25 on Monday, 11/20/23 added 2.31% to the stock’s daily price. The company’s shares are showing year-to-date upside of 101.99%, with the 5-day performance at 17.97% in the green. However, in the 30-day time frame, Navitas Semiconductor Corp (NASDAQ:NVTS) is 26.83% up. Looking at the short shares, we see there were 13.05 million shares sold at short interest cover period of 8.39 days.

The consensus price target for the stock as assigned by Wall Street analysts is $10.86, meaning bulls need an upside of 34.71% from its current market value. According to analyst projections, NVTS’s forecast low is $6.90 with $14.00 as the target high. To hit the forecast high, the stock’s price needs a -97.46% plunge from its current level, while the stock would need to tank 2.68% for it to hit the projected low.

Navitas Semiconductor Corp (NVTS) estimates and forecasts

Data shows that the Navitas Semiconductor Corp share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -22.60% over the past 6 months, a 17.86% in annual growth rate that is considerably higher than the industry average of -10.60%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Navitas Semiconductor Corp will rise 16.70%, while the growth in revenue is estimated to hit 28.60% for the next quarter. Year-over-year growth is forecast to reach 108.00% up from the last financial year.

Consensus estimates given by 8 financial analysts project the company’s revenue in the current quarter to hit an average of $25.45 million. 8 analysts are of the opinion that Navitas Semiconductor Corp’s revenue for the quarter ending Mar 2024 will be $24.67 million. The company’s revenue for the corresponding quarters a year ago was $12.35 million and $13.36 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 106.10%. The estimates for the next quarter sales put growth at 84.70%.

The 2023 estimates are for Navitas Semiconductor Corp earnings to increase by 25.40%, but the outlook for the next 5-year period is at 20.00% per year.

NVTS Dividends

Navitas Semiconductor Corp is expected to release its next quarterly earnings report on November 09.

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

If we look at who the major shareholders are, we find that insiders hold 35.52% of Navitas Semiconductor Corp shares while 23.82% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 36.94%. There are 23.82% institutions holding the Navitas Semiconductor Corp stock share, with Capricorn Investment Group LLC the top institutional holder. As of Jun 29, 2023, the company held 5.54% of the shares, roughly 9.62 million NVTS shares worth $101.36 million.

Vanguard Group Inc holds the second largest percentage of outstanding shares, with 4.32% or 7.51 million shares worth $79.14 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and SPDR (R) Ser Tr-SPDR (R) S&P (R) Semiconductor ETF. With 3.46 million shares estimated at $36.48 million under it, the former controlled 1.99% of total outstanding shares. On the other hand, SPDR (R) Ser Tr-SPDR (R) S&P (R) Semiconductor ETF held about 1.97% of the shares, roughly 3.43 million shares worth around $30.28 million.

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