Navitas Semiconductor (NASDAQ:NVTS) Shares Gap Up – Here’s Why

Navitas Semiconductor Corporation (NASDAQ:NVTS)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $19.25, but opened at $20.81. Navitas Semiconductor shares last traded at $19.9820, with a volume of 9,620,367 shares.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NVTS. Wall Street Zen raised Navitas Semiconductor from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Robert W. Baird upped their price target on Navitas Semiconductor from $9.00 to $20.00 and gave the stock an “outperform” rating in a research report on Monday, May 4th. Rosenblatt Securities upped their price target on Navitas Semiconductor from $7.00 to $13.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Needham & Company LLC upped their price target on Navitas Semiconductor from $13.00 to $21.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $13.70 price target on shares of Navitas Semiconductor in a research report on Wednesday, May 6th. Two analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $12.87.

Navitas Semiconductor Price Performance

The company has a market capitalization of $5.22 billion, a PE ratio of -35.43 and a beta of 3.62. The firm’s fifty day simple moving average is $12.24 and its 200 day simple moving average is $10.17.

Navitas Semiconductor (NASDAQ:NVTS) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.01. Navitas Semiconductor had a negative net margin of 330.67% and a negative return on equity of 14.30%. The company had revenue of $8.60 million for the quarter, compared to analyst estimates of $8.22 million. During the same period in the prior year, the company earned ($0.06) earnings per share. The firm’s revenue was down 38.7% on a year-over-year basis. On average, equities research analysts anticipate that Navitas Semiconductor Corporation will post -0.26 EPS for the current fiscal year.

Insider Buying and Selling at Navitas Semiconductor

In other Navitas Semiconductor news, CEO Chris Allexandre sold 9,236 shares of the company’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $8.93, for a total value of $82,477.48. Following the sale, the chief executive officer directly owned 813,323 shares of the company’s stock, valued at approximately $7,262,974.39. This represents a 1.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Todd Glickman sold 98,152 shares of the company’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $10.78, for a total transaction of $1,058,078.56. Following the completion of the sale, the chief financial officer directly owned 735,231 shares in the company, valued at approximately $7,925,790.18. The trade was a 11.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 509,016 shares of company stock valued at $4,967,814. 29.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Navitas Semiconductor

Several hedge funds have recently modified their holdings of NVTS. Invesco Ltd. boosted its stake in shares of Navitas Semiconductor by 257.8% during the 4th quarter. Invesco Ltd. now owns 4,737,624 shares of the company’s stock worth $33,827,000 after acquiring an additional 3,413,394 shares in the last quarter. Marex Group plc boosted its stake in shares of Navitas Semiconductor by 22,203.8% during the 4th quarter. Marex Group plc now owns 2,675,113 shares of the company’s stock worth $19,100,000 after acquiring an additional 2,663,119 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Navitas Semiconductor by 23.6% during the 3rd quarter. Vanguard Group Inc. now owns 13,360,648 shares of the company’s stock worth $96,464,000 after acquiring an additional 2,550,613 shares in the last quarter. Ghisallo Capital Management LLC purchased a new stake in shares of Navitas Semiconductor during the 4th quarter worth about $15,867,000. Finally, UBS Group AG boosted its stake in shares of Navitas Semiconductor by 131.0% during the 4th quarter. UBS Group AG now owns 3,307,036 shares of the company’s stock worth $23,612,000 after acquiring an additional 1,875,228 shares in the last quarter. 46.14% of the stock is owned by hedge funds and other institutional investors.

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.