Future Outlook And Navitas Semiconductor Corp Stock Price Performance

In the last trading session, 2.16 million shares of the Navitas Semiconductor Corp (NASDAQ:NVTS) were traded, and its beta was 2.52. Most recently the company’s share price was $4.65, and it changed around -$0.21 or -4.32% from the last close, which brings the market valuation of the company to $833.51M. NVTS currently trades at a discount to its 52-week high of $11.16, offering almost -140.0% off that amount. The share price’s 52-week low was $4.16, which indicates that the current value has risen by an impressive 10.54% since then. We note from Navitas Semiconductor Corp’s average daily trading volume that its 10-day average is 3.43 million shares, with the 3-month average coming to 3.07 million.

Navitas Semiconductor Corp (NASDAQ:NVTS) trade information

Instantly NVTS has showed a red trend with a performance of -4.32% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently down -42.38% year-to-date, but still up 4.97% over the last five days. On the other hand, Navitas Semiconductor Corp (NASDAQ:NVTS) is -17.84% down in the 30-day period. We can see from the shorts that 19.27 million shares have been sold at a short interest cover period of 4.28 day(s).

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The consensus price target as assigned by Wall Street analysts is $14.5, which translates to bulls needing to increase their stock price by 67.93% from its current value. Analyst projections state that NVTS is forecast to be at a low of $8 and a high of $22.

Navitas Semiconductor Corp (NVTS) estimates and forecasts

Navitas Semiconductor Corp share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -33.09 percent over the past six months and at a 25.00% annual growth rate that is well above the industry average of 2.30%. The year-over-year growth rate is expected to be 42.40%, up from the previous year.

Consensus estimates provided by 7 financial analysts predict the company will bring in an average of $22.93 million in revenue for the current quarter. 7 analysts expect Navitas Semiconductor Corp to make $23.81 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $13.36 million and $18.06 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 71.70%. Forecasts for the next quarter put sales growth at 31.80%.

Navitas Semiconductor Corp earnings are expected to increase by 10.69% in 2024, but the outlook is positive 20.00% per year for the next five years.

NVTS Dividends

Navitas Semiconductor Corp’s next quarterly earnings report is expected to be released around May 13 and May 17.

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

Upon looking at major shareholders, it appears that insiders hold 27.75% of Navitas Semiconductor Corp shares, and 46.59% of them are in the hands of institutional investors. The stock currently has a share float of 64.49%. Navitas Semiconductor Corp stock is held by 216 institutions, with Capricorn Investment Group LLC being the largest institutional investor. By Jun 29, 2023, it held 5.54% of the shares, which is about 9.62 million shares worth $101.36 million.

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

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