Navitas Semiconductor (NASDAQ:NVTS) Stock Price Up 7.5% – Still a Buy?

Navitas Semiconductor Corporation (NASDAQ:NVTS)’s stock price traded up 7.5% during trading on Thursday . The company traded as high as $24.23 and last traded at $24.02. 23,149,342 shares traded hands during mid-day trading, a decline of 20% from the average daily volume of 28,946,402 shares. The stock had previously closed at $22.34.

Analyst Ratings Changes

NVTS has been the subject of several research reports. Weiss Ratings lowered Navitas Semiconductor from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 2nd. Morgan Stanley restated an “underweight” rating and issued a $13.70 target price on shares of Navitas Semiconductor in a research note on Wednesday, May 6th. Wall Street Zen raised Navitas Semiconductor from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Rosenblatt Securities increased their price target on Navitas Semiconductor from $7.00 to $13.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Finally, Robert W. Baird lifted their price objective on Navitas Semiconductor from $9.00 to $20.00 and gave the stock an “outperform” rating in a report on Monday, May 4th. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $14.74.

Navitas Semiconductor Stock Performance

The stock’s 50 day moving average is $19.89 and its 200 day moving average is $12.78. The company has a market capitalization of $5.61 billion, a PE ratio of -38.13 and a beta of 3.75.

Navitas Semiconductor (NASDAQ:NVTS) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $8.60 million during the quarter, compared to analyst estimates of $8.22 million. During the same period in the previous year, the business earned ($0.06) EPS. Navitas Semiconductor’s revenue was down 38.7% compared to the same quarter last year. On average, equities research analysts forecast that Navitas Semiconductor Corporation will post -0.39 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Ranbir Singh sold 3,060,118 shares of the business’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $29.29, for a total transaction of $89,630,856.22. Following the sale, the director directly owned 15,607,533 shares in the company, valued at approximately $457,144,641.57. The trade was a 16.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Richard J. Hendrix sold 110,165 shares of the business’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $28.96, for a total value of $3,190,378.40. Following the sale, the director owned 101,709 shares in the company, valued at approximately $2,945,492.64. The trade was a 52.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 3,989,478 shares of company stock valued at $116,356,387 in the last ninety days. 12.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Navitas Semiconductor

A number of institutional investors and hedge funds have recently modified their holdings of the company. Allworth Financial LP boosted its position in shares of Navitas Semiconductor by 309.4% in the third quarter. Allworth Financial LP now owns 3,570 shares of the company’s stock valued at $26,000 after acquiring an additional 2,698 shares during the period. NewEdge Advisors LLC increased its holdings in Navitas Semiconductor by 189.8% during the 2nd quarter. NewEdge Advisors LLC now owns 4,492 shares of the company’s stock worth $29,000 after acquiring an additional 2,942 shares during the period. GAMMA Investing LLC increased its holdings in Navitas Semiconductor by 116.5% during the 4th quarter. GAMMA Investing LLC now owns 4,736 shares of the company’s stock worth $34,000 after acquiring an additional 2,548 shares during the period. Geneos Wealth Management Inc. lifted its stake in Navitas Semiconductor by 3,200.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 4,125 shares of the company’s stock worth $36,000 after purchasing an additional 4,000 shares in the last quarter. Finally, State of Wyoming lifted its stake in Navitas Semiconductor by 92.8% in the 1st quarter. State of Wyoming now owns 4,803 shares of the company’s stock worth $42,000 after purchasing an additional 2,312 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.