Navitas Semiconductor (NASDAQ:NVTS) Trading Up 11.2% – Still a Buy?

Navitas Semiconductor Corporation (NASDAQ:NVTS) was up 11.2% during trading on Tuesday . The stock traded as high as $12.86 and last traded at $12.83. Approximately 11,868,913 shares traded hands during trading, a decline of 56% from the average daily volume of 27,203,676 shares. The stock had previously closed at $11.54.

Analyst Ratings Changes

A number of equities analysts have weighed in on NVTS shares. Needham & Company LLC increased their target price on shares of Navitas Semiconductor from $13.00 to $21.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Wall Street Zen raised shares of 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 shares of Navitas Semiconductor from $9.00 to $20.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. Weiss Ratings raised shares of Navitas Semiconductor from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, June 17th. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $13.70 price objective on shares of Navitas Semiconductor in a research note on Wednesday, May 6th. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $14.74.

Navitas Semiconductor Stock Performance

The firm has a 50 day simple moving average of $20.71 and a 200 day simple moving average of $14.06. The firm has a market cap of $3.00 billion, a P/E ratio of -20.35 and a beta of 3.82.

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

Insider Activity

In related news, Director Gary Kent Wunderlich, Jr. sold 73,000 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $28.11, for a total transaction of $2,052,030.00. Following the sale, the director owned 13,964 shares of the company’s stock, valued at approximately $392,528.04. This represents a 83.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Chris Allexandre sold 13,323 shares of the stock in a transaction that occurred on Wednesday, May 27th. The stock was 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 in the company, valued at $34,120,455.73. This represents a 1.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 3,989,478 shares of company stock worth $116,356,387 in the last three months. Insiders own 12.40% of the company’s stock.

Institutional Investors Weigh In On Navitas Semiconductor

A number of institutional investors and hedge funds have recently made changes to their positions in NVTS. Vanguard Group Inc. boosted its stake in Navitas Semiconductor by 10.0% during the fourth quarter. Vanguard Group Inc. now owns 14,691,351 shares of the company’s stock valued at $104,896,000 after buying an additional 1,330,703 shares during the period. State Street Corp raised its holdings in shares of Navitas Semiconductor by 18.0% in the 4th quarter. State Street Corp now owns 8,597,950 shares of the company’s stock valued at $61,389,000 after acquiring an additional 1,308,626 shares in the last quarter. Invesco Ltd. boosted its position 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 valued at $33,827,000 after acquiring an additional 3,413,394 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Navitas Semiconductor by 12.8% during the fourth quarter. Geode Capital Management LLC now owns 4,417,408 shares of the company’s stock worth $31,546,000 after purchasing an additional 501,110 shares in the last quarter. Finally, UBS Group AG increased its position in shares of Navitas Semiconductor by 131.0% in the fourth quarter. UBS Group AG now owns 3,307,036 shares of the company’s stock worth $23,612,000 after purchasing an additional 1,875,228 shares during the last quarter. Hedge funds and other institutional investors own 46.14% of the company’s stock.

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.