In the latest trading session, 0.64 million Navitas Semiconductor Corp (NASDAQ:NVTS) shares changed hands as the company’s beta touched 2.52. With the company’s most recent per share price at $4.32 changing hands around $0.05 or 1.29% at last look, the market valuation stands at $775.26M. NVTS’s current price is a discount, trading about -158.33% off its 52-week high of $11.16. The share price had its 52-week low at $4.25, which suggests the last value was 1.62% up since then. When we look at Navitas Semiconductor Corp’s average trading volume, we note the 10-day average is 4.61 million shares, with the 3-month average coming to 2.95 million.
Navitas Semiconductor Corp (NASDAQ:NVTS) trade information
Instantly NVTS is in green as seen in intraday trades today. With action -7.78%, the performance over the past five days has been red. The jump to weekly highs of 4.93 added 1.29% to the stock’s daily price. The company’s shares are showing year-to-date downside of -46.41%, with the 5-day performance at -7.78% in the red. However, in the 30-day time frame, Navitas Semiconductor Corp (NASDAQ:NVTS) is -24.12% down. Looking at the short shares, we see there were 15.53 million shares sold at short interest cover period of 6.18 days.
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 -37.86% over the past 6 months, a 25.00% in annual growth rate that is considerably higher than the industry average of 1.40%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Navitas Semiconductor Corp will rise 28.60%. Year-over-year growth is forecast to reach 42.40% up from the last financial year.
Consensus estimates given by 7 financial analysts project the company’s revenue in the current quarter to hit an average of $22.93 million. 7 analysts are of the opinion that Navitas Semiconductor Corp’s revenue for the quarter ending Jun 2024 will be $23.81 million. The company’s revenue for the corresponding quarters a year ago was $13.36 million and $18.06 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 71.70%. The estimates for the next quarter sales put growth at 31.80%.
The 2024 estimates are for Navitas Semiconductor Corp earnings to increase by 10.69%, 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 between May 13 and May 17.
Navitas Semiconductor Corp (NASDAQ:NVTS)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 27.75% of Navitas Semiconductor Corp shares while 46.60% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 64.50%. There are 46.60% institutions holding the Navitas Semiconductor Corp stock share, with Capricorn Investment Group LLC the top institutional holder. As of Dec 30, 2023, the company held 5.27% of the shares, roughly 9.44 million NVTS shares worth $40.7 million.
Blackrock Inc. holds the second largest percentage of outstanding shares, with 4.98% or 8.92 million shares worth $38.46 million as of Dec 30, 2023.
Among Mutual Funds, the top two as of Jan 30, 2024 were SPDR (R) Ser Tr-SPDR (R) S&P (R) Semiconductor ETF and Vanguard Total Stock Market Index Fund. With 4.18 million shares estimated at $18.0 million under it, the former controlled 2.33% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 1.93% of the shares, roughly 3.46 million shares worth around $14.92 million.
