Navitas Semiconductor (NASDAQ:NVTS) Trading 13% Higher – Should You Buy?

Shares of Navitas Semiconductor Corporation (NASDAQ:NVTS) were up 13% during trading on Wednesday . The stock traded as high as $9.72 and last traded at $9.6850. Approximately 10,424,566 shares changed hands during trading, a decline of 54% from the average daily volume of 22,791,412 shares. The stock had previously closed at $8.57.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Navitas Semiconductor in a research note on Thursday, January 22nd. Rosenblatt Securities restated a “neutral” rating and set a $7.00 price target on shares of Navitas Semiconductor in a report on Thursday, March 12th. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Navitas Semiconductor presently has a consensus rating of “Hold” and a consensus price target of $6.78.

Navitas Semiconductor Stock Performance

The company has a market capitalization of $2.26 billion, a PE ratio of -17.18 and a beta of 3.15. The stock has a 50 day moving average price of $8.89 and a two-hundred day moving average price of $9.24.

Navitas Semiconductor (NASDAQ:NVTS) last announced its quarterly earnings results on Tuesday, February 24th. The company reported ($0.05) EPS for the quarter, meeting the consensus estimate of ($0.05). The business had revenue of $7.30 million during the quarter, compared to analysts’ expectations of $6.95 million. Navitas Semiconductor had a negative return on equity of 14.52% and a negative net margin of 254.71%.The firm’s quarterly revenue was down 59.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.06) EPS. Sell-side analysts predict that Navitas Semiconductor Corporation will post -0.51 earnings per share for the current year.

Insider Transactions at Navitas Semiconductor

In other news, CEO Chris Allexandre sold 9,236 shares of the firm’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $8.93, for a total transaction of $82,477.48. Following the transaction, the chief executive officer owned 813,323 shares in the company, valued at approximately $7,262,974.39. This trade represents a 1.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ranbir Singh sold 389,096 shares of Navitas Semiconductor stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $9.52, for a total transaction of $3,704,193.92. The SEC filing for this sale provides additional information. Insiders have sold a total of 509,016 shares of company stock worth $4,967,814 in the last 90 days. 29.90% of the stock is owned by insiders.

Institutional Trading of Navitas Semiconductor

A number of institutional investors and hedge funds have recently made changes to their positions in NVTS. Diversify Advisory Services LLC acquired a new stake in Navitas Semiconductor in the 3rd quarter worth approximately $960,000. JPMorgan Chase & Co. grew its holdings in Navitas Semiconductor by 1,742.4% during the second quarter. JPMorgan Chase & Co. now owns 1,428,386 shares of the company’s stock valued at $9,356,000 after purchasing an additional 1,350,857 shares during the last quarter. Vanguard Group Inc. grew its holdings in Navitas Semiconductor by 23.6% during the third quarter. Vanguard Group Inc. now owns 13,360,648 shares of the company’s stock valued at $96,464,000 after purchasing an additional 2,550,613 shares during the last quarter. Newbridge Financial Services Group Inc. raised its position in shares of Navitas Semiconductor by 1,425.5% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 132,874 shares of the company’s stock valued at $949,000 after purchasing an additional 124,164 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Navitas Semiconductor in the third quarter valued at approximately $2,188,000. Institutional investors and hedge funds own 46.14% of the company’s stock.

Navitas Semiconductor Company Profile

Navitas Semiconductor is a fabless semiconductor company specialized in gallium nitride (GaN) power integrated circuits. The company’s core mission centers on delivering high-efficiency, high-power-density power solutions that address the needs of modern electronic devices, ranging from fast chargers for consumer electronics to industrial and automotive power systems.

Navitas offers a portfolio of GaNFast power ICs designed to replace traditional silicon-based power components. These products integrate GaN transistors, drivers and protection features into single-chip solutions, enabling faster charging, reduced energy loss and smaller power supply footprints.