A History of Outperforming Analyst Forecasts and Beating the Odds: Navitas Semiconductor Corp (NVTS)

Navitas Semiconductor Corp (NASDAQ: NVTS) stock jumped 2.82% on Friday to $6.93 against a previous-day closing price of $6.74. With 1.99 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.96 million shares. During the session, the Semiconductors company that operates in wider Technology sector, reached to the highest price of $6.95 whereas the lowest price it dropped to was $6.64. The 52-week range on NVTS shows that it touched its highest point at $11.16 and its lowest point at $3.11 during that stretch. It currently has a 1-year price target of $10.86. Beta for the stock currently stands at 2.61.

Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of NVTS was up-trending over the past week, with a rise of 10.70%, but this was up by 20.73% over a month. Three-month performance dropped to -17.60% while six-month performance fell -18.47%. The stock gained 38.60% in the past year, while it has gained 97.44% so far this year. A look at the trailing 12-month EPS for NVTS yields -0.75 with Next year EPS estimates of -0.13. For the next quarter, that number is -0.05. This implies an EPS growth rate of 25.40% for this year and 36.65% for next year.

Float and Shares Shorts:

At present, 153.63 million NVTS shares are outstanding with a float of 115.73 million shares on hand for trading. On Oct 30, 2023, short shares totaled 13.05 million, which was 7.51% higher than short shares on Sep 28, 2023. In addition to Mr. Eugene A. Sheridan as the firm’s Co-Founder, CEO, President & Chairman, Mr. Daniel M. Kinzer serves as its Co-Founder, CTO, COO & Director.

Institutional Ownership:

Through their ownership of 23.82% of NVTS’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 35.29% of NVTS, in contrast to 19.38% held by mutual funds. Shares owned by individuals account for 18.41%. As the largest shareholder in NVTS with 4.81% of the stake, The Vanguard Group, Inc. holds 8,358,604 shares worth 8,358,604. A second-largest stockholder of NVTS, BlackRock Fund Advisors, holds 7,323,119 shares, controlling over 4.22% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in NVTS, holding 6,978,853 shares or 4.02% stake. With a 2.67% stake in NVTS, the SPDR S&P Semiconductor ETF is the largest stakeholder. A total of 4,639,854 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 1.99% of NVTS stock, is the second-largest Mutual Fund holder. It holds 3,461,400 shares valued at 18.14 million. Baron Discovery Fund holds 1.48% of the stake in NVTS, owning 2,564,620 shares worth 13.44 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for NVTS since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With NVTS analysts setting a high price target of $14.00 and a low target of $6.90, the average target price over the next 12 months is $10.86. Based on these targets, NVTS could surge 102.02% to reach the target high and fall by -0.43% to reach the target low. Reaching the average price target will result in a growth of 56.71% from current levels.

Summary of Insider Activity:

Insiders traded NVTS stock several times over the past three months with 2 Buys and 12 Sells. In these transactions, 2,134,544 shares were bought while 978,862 shares were sold. The number of buy transactions has increased to 18 while that of sell transactions has risen to 29 over the past year. The total number of shares bought during that period was 9,067,813 while 20,699,482 shares were sold.