During the last session, Navitas Semiconductor Corp (NASDAQ:NVTS)’s traded shares were 2.54 million, with the beta value of the company hitting 2.37. At the end of the trading day, the stock’s price was $2.67, reflecting an intraday loss of -6.32% or -$0.18. The 52-week high for the NVTS share is $8.44, that puts it down -216.1 from that peak though still a striking 19.85% gain since the share price plummeted to a 52-week low of $2.14. The company’s market capitalization is $489.83M, and the average intraday trading volume over the past 10 days was 2.26 million shares, and the average trade volume was 2.52 million shares over the past three months.
Navitas Semiconductor Corp (NVTS) received a consensus recommendation of Buy from analysts. That translates to a mean rating of 1.78. NVTS has a Sell rating from 0 analyst(s) out of 2 analysts who have looked at this stock. 0 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 2 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -0.06.
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Navitas Semiconductor Corp (NASDAQ:NVTS) trade information
Navitas Semiconductor Corp (NVTS) registered a -6.32% downside in the last session and has traded in the green over the past 5 sessions. The stock plummet -6.32% in intraday trading to $2.67, hitting a weekly high. The stock’s 5-day price performance is 7.23%, and it has moved by 16.09% in 30 days. Based on these gigs, the overall price performance for the year is -44.72%. The short interest in Navitas Semiconductor Corp (NASDAQ:NVTS) is 31.1 million shares and it means that shorts have 12.56 day(s) to cover.
The consensus price target of analysts on Wall Street is $10, which implies an increase of 73.3% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $5 and $22 respectively. As a result, NVTS is trading at a discount of -723.97% off the target high and -87.27% off the low.
Navitas Semiconductor Corp (NVTS) estimates and forecasts
Statistics show that Navitas Semiconductor Corp has underperformed its competitors in share price, compared to the industry in which it operates. Navitas Semiconductor Corp (NVTS) shares have gone down -37.47% during the last six months, with a year-to-date growth rate less than the industry average at -20.00% against -3.90. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to shrink -50.00% this quarter and then drop -50.00% in the quarter after that. In the rating firms’ projections, revenue will increase 13.00% compared to the previous financial year.
As companies strive to predict their financial trajectories, we turn our attention to the forthcoming financial quarter. Here are the insights gathered from industry analysts. Revenue for the current quarter is expected to be 21.93M as predicted by 8 analyst(s). Meanwhile, a consensus of 8 analyst(s) estimates revenue growth to 24.07M by the end of current fiscal year. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled 21.98M and 26.06M respectively. In this case, analysts expect current quarter sales to shrink by -0.20% and then drop by -7.60% in the coming quarter.
While earnings are projected to return -21.39% in 2024, the next five years will return 20.00% per annum.
NVTS Dividends
Navitas Semiconductor Corp is due to release its next quarterly earnings in November. 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 26.25% of total outstanding shares while institutional holders control 45.94%, with the float percentage being 62.29%. BLACKROCK INC. is the largest shareholder of the company, while 202.0 institutions own stock in it. As of 2024-06-30, the company held over 9.9 million shares (or 5.5059% of all shares), a total value of $38.9 million in shares.
The next largest institutional holding, with 9.69 million shares, is of VANGUARD GROUP INC’s that is approximately 5.3884% of outstanding shares. At the market price on 2024-06-30, these shares were valued at $38.07 million.
