Navitas Semiconductor (NASDAQ:NVTS) Shares Gap Up – Time to Buy?

Navitas Semiconductor Corporation (NASDAQ:NVTS)’s share price gapped up before the market opened on Friday . The stock had previously closed at $7.14, but opened at $7.50. Navitas Semiconductor shares last traded at $7.97, with a volume of 2,732,795 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts have recently commented on NVTS shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Navitas Semiconductor in a research report on Wednesday, October 8th. Jefferies Financial Group raised shares of Navitas Semiconductor to a “hold” rating in a research note on Tuesday, October 28th. Rosenblatt Securities reissued a “neutral” rating and issued a $8.00 price target on shares of Navitas Semiconductor in a research note on Monday, November 10th. Finally, Needham & Company LLC lifted their price objective 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 given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $6.48.

Navitas Semiconductor Stock Performance

The firm has a market cap of $1.82 billion, a P/E ratio of -12.26 and a beta of 3.16. The stock’s 50-day moving average is $8.97 and its 200 day moving average is $8.02.

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

Insider Activity

In other Navitas Semiconductor news, CFO Todd Glickman sold 78,307 shares of Navitas Semiconductor stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $9.77, for a total value of $765,059.39. Following the transaction, the chief financial officer owned 813,279 shares of the company’s stock, valued at approximately $7,945,735.83. The trade was a 8.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ranbir Singh sold 179,354 shares of the company’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $8.68, for a total transaction of $1,556,792.72. Following the completion of the transaction, the director owned 389,096 shares of the company’s stock, valued at $3,377,353.28. This trade represents a 31.55% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 3,426,898 shares of company stock worth $29,360,063. Corporate insiders own 29.90% of the company’s stock.

Institutional Trading of Navitas Semiconductor

Several hedge funds and other institutional investors have recently modified their holdings of the company. Allworth Financial LP lifted its holdings 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 purchasing an additional 2,698 shares in the last quarter. Cranbrook Wealth Management LLC acquired a new stake in Navitas Semiconductor in the 2nd quarter valued at approximately $25,000. NewEdge Advisors LLC boosted its position 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 last quarter. CWM LLC grew its stake in shares of 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 in the last quarter. Finally, ST Germain D J Co. Inc. bought a new position in shares of Navitas Semiconductor during the 2nd quarter worth approximately $33,000. Institutional investors and hedge funds 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.