In the latest trading session, 2.16 million Navitas Semiconductor Corp (NASDAQ:NVTS) shares changed hands as the company’s beta touched 2.23. With the company’s most recent per share price at $3.04 changed hands at -$0.22 or -6.64% at last look, the market valuation stands at $567.67M. NVTS’s current price is a discount, trading about -143.42% off its 52-week high of $7.40. The share price had its 52-week low at $1.75, which suggests the last value was 42.43% up since then. When we look at Navitas Semiconductor Corp’s average trading volume, we note the 10-day average is 5.82 million shares, with the 3-month average coming to 5.71 million.
Analysts gave the Navitas Semiconductor Corp (NVTS) stock a consensus recommendation rating of Buy, calculated at a mean rating of 1.78. If we narrow down to specifics, the data shows that 0 out of 2 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 0 recommended NVTS as a Hold, 2 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 -0.06.
Navitas Semiconductor Corp (NASDAQ:NVTS) trade information
Instantly NVTS was in red as seen in intraday trades today. With action -23.83%, the performance over the past five days has been red. The company’s shares are showing year-to-date downside of -14.87%, with the 5-day performance at -23.83% in the red. However, in the 30-day time frame, Navitas Semiconductor Corp (NASDAQ:NVTS) is -30.14% down. Looking at the short shares, we see there were 25.01 million shares sold at short interest cover period of 3.34 days.
The consensus price target for the stock as assigned by Wall Street analysts is 5, meaning bulls need an upside of 39.2% from its recent market value. According to analyst projections, NVTS’s forecast low is 4 with 6.5 as the target high. To hit the forecast high, the stock’s price needs a -113.82% plunge from its current level, while the stock would need to soar -31.58% 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 not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -36.29% over the past 6 months, a -25.00% in annual growth rate that is considerably lower than the industry average of -1.50%. Year-over-year growth is forecast to reach 6.23% 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 19.03M. 7 analysts are of the opinion that Navitas Semiconductor Corp’s revenue for the current quarter will be 15.8M. The company’s revenue for the corresponding quarters a year ago was 26.06M and 23.18M respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -26.98%. The estimates for the next quarter sales put growth at -31.81%.
The 2025 estimates are for Navitas Semiconductor Corp earnings to decrease by -24.74%.
NVTS Dividends
Navitas Semiconductor Corp is expected to release its next quarterly earnings report in February.
Navitas Semiconductor Corp (NASDAQ:NVTS)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 25.82% of Navitas Semiconductor Corp shares while 42.07% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 56.71%. There are 42.07% institutions holding the Navitas Semiconductor Corp stock share, with BLACKROCK INC. the top institutional holder. As of 2024-06-30, the company held 5.5059% of the shares, roughly 9.9 million NVTS shares worth $38.9 million.
VANGUARD GROUP INC holds the second largest percentage of outstanding shares, with 5.3884% or 9.69 million shares worth $38.07 million as of 2024-06-30.
Among Mutual Funds, the top two as of Sep 30, 2024 were Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF. With 4.0 shares estimated at $12.02 million under it, the former controlled 2.14% of total outstanding shares. On the other hand, iShares Russell 2000 ETF held about 1.72% of the shares, roughly 3.22 shares worth around $9.67 million.
