During the recent session, Navitas Semiconductor Corp (NASDAQ:NVTS)’s traded shares were 0.75 million, with the beta value of the company hitting 2.58. At the last check today, the stock’s price was $4.89, reflecting an intraday loss of -4.58% or -$0.24. The 52-week high for the NVTS share is $11.16, that puts it down -128.22 from that peak though still a striking 2.66% gain since the share price plummeted to a 52-week low of $4.76. The company’s market capitalization is $877.43M, and the average intraday trading volume over the past 10 days was 5.59 million shares, and the average trade volume was 2.68 million shares over the past three months.
Navitas Semiconductor Corp (NASDAQ:NVTS) trade information
Navitas Semiconductor Corp (NVTS) registered a -4.58% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -4.58% in intraday trading to $4.89, hitting a weekly high. The stock’s 5-day price performance is -9.01%, and it has moved by -23.03% in 30 days. Based on these gigs, the overall price performance for the year is -24.58%. The short interest in Navitas Semiconductor Corp (NASDAQ:NVTS) is 15.53 million shares and it means that shorts have 6.18 day(s) to cover.
Navitas Semiconductor Corp (NVTS) estimates and forecasts
Statistics show that Navitas Semiconductor Corp has outperformed its competitors in share price, compared to the industry in which it operates. Navitas Semiconductor Corp (NVTS) shares have gone down -36.84% during the last six months, with a year-to-date growth rate more than the industry average at 25.00% against 1.80. In the rating firms’ projections, revenue will increase 42.40% compared to the previous financial year.
Revenue for the current quarter is expected to be $22.93 million as predicted by 7 analyst(s). Meanwhile, a consensus of 7 analyst(s) estimates revenue growth to $23.81 million by the end of Jun 2024. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $13.36 million and $18.06 million respectively. In this case, analysts expect current quarter sales to grow by 71.70% and then jump by 31.80% in the coming quarter.
NVTS Dividends
Navitas Semiconductor Corp is due to release its next quarterly earnings between May 13 and May 17. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Navitas Semiconductor Corp (NASDAQ:NVTS)’s Major holders
Navitas Semiconductor Corp insiders own 27.69% of total outstanding shares while institutional holders control 46.51%, with the float percentage being 64.32%. Capricorn Investment Group LLC is the largest shareholder of the company, while 215 institutions own stock in it. As of Jun 29, 2023, the company held over 9.62 million shares (or 5.54% of all shares), a total value of $101.36 million in shares.
The next largest institutional holding, with 7.51 million shares, is of Vanguard Group Inc’s that is approximately 4.32% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $79.14 million.
Also, the Mutual Funds coming in first place with the largest holdings of Navitas Semiconductor Corp (NVTS) shares are Vanguard Total Stock Market Index Fund and SPDR (R) Ser Tr-SPDR (R) S&P (R) Semiconductor ETF. Data provided on Jun 29, 2023 indicates that Vanguard Total Stock Market Index Fund owns about 3.46 million shares. This amounts to just over 1.99 percent of the company’s overall shares, with a $36.48 million market value. The same data shows that the other fund manager holds slightly less at 3.43 million, or about 1.97% of the stock, which is worth about $30.28 million.
