Navitas Semiconductor (NASDAQ:NVTS) Trading 9.1% Higher – Here’s Why

Navitas Semiconductor Corporation (NASDAQ:NVTS)’s share price was up 9.1% during mid-day trading on Friday . The company traded as high as $11.15 and last traded at $10.91. Approximately 28,552,225 shares were traded during trading, a decline of 17% from the average daily volume of 34,447,211 shares. The stock had previously closed at $10.00.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Jefferies Financial Group raised Navitas Semiconductor to a “hold” rating in a report on Tuesday, October 28th. Rosenblatt Securities restated a “neutral” rating and issued a $8.00 target price on shares of Navitas Semiconductor in a research report on Monday, November 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Navitas Semiconductor in a research report on Wednesday, October 8th. Finally, Needham & Company LLC increased their price target on Navitas Semiconductor from $8.00 to $13.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. Two investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Navitas Semiconductor currently has a consensus rating of “Hold” and a consensus target price of $6.48.

Navitas Semiconductor Trading Up 9.1%

The company’s 50-day moving average price is $8.49 and its two-hundred day moving average price is $8.22. The company has a market cap of $2.51 billion, a P/E ratio of -17.05 and a beta of 3.16.

Navitas Semiconductor (NASDAQ:NVTS) last released its earnings results on Monday, November 3rd. The company reported ($0.05) EPS for the quarter, meeting the consensus estimate of ($0.05). The business had revenue of $10.11 million during the quarter, compared to analyst estimates of $10.00 million. Navitas Semiconductor had a negative net margin of 220.85% and a negative return on equity of 14.86%. The business’s quarterly revenue was down 53.4% on a year-over-year basis. During the same period in the prior year, the business earned ($0.10) earnings per share. Equities analysts forecast that Navitas Semiconductor Corporation will post -0.51 earnings per share for the current year.

Insider Buying and Selling at Navitas Semiconductor

In related news, Director Ranbir Singh sold 179,354 shares of Navitas Semiconductor stock in a transaction on Friday, December 12th. The stock was sold at an average price of $8.68, for a total value of $1,556,792.72. Following the transaction, the director directly owned 389,096 shares in the company, valued at $3,377,353.28. The trade was a 31.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Gary Kent Wunderlich, Jr. sold 49,651 shares of the company’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $9.31, for a total value of $462,250.81. Following the sale, the director directly owned 86,964 shares of the company’s stock, valued at approximately $809,634.84. This represents a 36.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 3,426,898 shares of company stock worth $29,360,063. 29.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Navitas Semiconductor

Several hedge funds have recently bought and sold shares of the business. CWM LLC boosted its position in Navitas Semiconductor by 24.7% during the 3rd quarter. CWM LLC now owns 4,515 shares of the company’s stock worth $33,000 after acquiring an additional 893 shares during the period. Strategic Blueprint LLC lifted its position in shares of Navitas Semiconductor by 6.5% in the third quarter. Strategic Blueprint LLC now owns 15,426 shares of the company’s stock worth $111,000 after purchasing an additional 937 shares in the last quarter. Prospera Financial Services Inc boosted its holdings in shares of Navitas Semiconductor by 3.8% during the third quarter. Prospera Financial Services Inc now owns 30,285 shares of the company’s stock worth $219,000 after purchasing an additional 1,120 shares during the period. Captrust Financial Advisors grew its position in Navitas Semiconductor by 3.8% during the second quarter. Captrust Financial Advisors now owns 45,758 shares of the company’s stock valued at $300,000 after purchasing an additional 1,667 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC grew its position in Navitas Semiconductor by 16.8% during the fourth quarter. Wealthcare Advisory Partners LLC now owns 11,996 shares of the company’s stock valued at $86,000 after purchasing an additional 1,725 shares in the last quarter. 46.14% of the stock is owned by hedge funds and other institutional investors.

About Navitas Semiconductor

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.