Navitas Semiconductor Target of Unusually Large Options Trading (NASDAQ:NVTS)

Navitas Semiconductor Corporation (NASDAQ:NVTS) was the recipient of unusually large options trading activity on Wednesday. Stock traders acquired 103,056 call options on the stock. This represents an increase of approximately 64% compared to the typical volume of 62,704 call options.

Insider Activity at Navitas Semiconductor

In other news, Director Ranbir Singh sold 3,060,118 shares of the company’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $29.29, for a total transaction of $89,630,856.22. Following the completion of the sale, the director owned 15,607,533 shares of the company’s stock, valued at $457,144,641.57. This represents a 16.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Chris Allexandre sold 13,323 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $31.81, for a total transaction of $423,804.63. Following the completion of the sale, the chief executive officer owned 1,072,633 shares of the company’s stock, valued at $34,120,455.73. This trade represents a 1.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 3,989,478 shares of company stock worth $116,356,387 in the last quarter. Company insiders own 12.40% of the company’s stock.

Hedge Funds Weigh In On Navitas Semiconductor

Several hedge funds have recently added to or reduced their stakes in the stock. American Century Companies Inc. lifted its stake in Navitas Semiconductor by 104.8% in the second quarter. American Century Companies Inc. now owns 241,450 shares of the company’s stock valued at $1,581,000 after buying an additional 123,577 shares during the last quarter. Prudential Financial Inc. acquired a new position in shares of Navitas Semiconductor in the 2nd quarter valued at $120,000. New York State Common Retirement Fund raised its position in Navitas Semiconductor by 102.7% in the 2nd quarter. New York State Common Retirement Fund now owns 40,255 shares of the company’s stock valued at $264,000 after purchasing an additional 20,400 shares during the last quarter. Invesco Ltd. raised its position in Navitas Semiconductor by 75.2% in the 2nd quarter. Invesco Ltd. now owns 3,206,008 shares of the company’s stock valued at $20,999,000 after purchasing an additional 1,376,205 shares during the last quarter. Finally, Baird Financial Group Inc. boosted its stake in Navitas Semiconductor by 2,514.3% during the 2nd quarter. Baird Financial Group Inc. now owns 419,237 shares of the company’s stock worth $2,746,000 after purchasing an additional 403,201 shares during the period. 46.14% of the stock is currently owned by hedge funds and other institutional investors.

Navitas Semiconductor Stock Down 14.6%

NASDAQ NVTS traded down $3.13 during trading hours on Wednesday, hitting $18.27. 28,690,082 shares of the company were exchanged, compared to its average volume of 28,844,834. The firm has a market cap of $4.27 billion, a price-to-earnings ratio of -28.82 and a beta of 3.75. The company has a 50 day moving average of $21.01 and a two-hundred day moving average of $13.19. Navitas Semiconductor has a 52-week low of $5.44 and a 52-week high of $34.17.

Navitas Semiconductor (NASDAQ:NVTS) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. The business had revenue of $8.60 million during the quarter, compared to the consensus estimate of $8.22 million. Navitas Semiconductor had a negative return on equity of 14.30% and a negative net margin of 330.67%.The business’s revenue for the quarter was down 38.7% on a year-over-year basis. During the same period in the previous year, the company posted ($0.06) earnings per share. On average, equities research analysts predict that Navitas Semiconductor will post -0.39 EPS for the current year.

Wall Street Analyst Weigh In

NVTS has been the topic of a number of research reports. Morgan Stanley restated an “underweight” rating and set a $13.70 price target on shares of Navitas Semiconductor in a research note on Wednesday, May 6th. Needham & Company LLC boosted their price objective on Navitas Semiconductor from $13.00 to $21.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Wall Street Zen raised Navitas Semiconductor from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings upgraded Navitas Semiconductor from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, June 17th. Finally, Rosenblatt Securities lifted their target price on Navitas Semiconductor from $7.00 to $13.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $14.74.

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.