Navitas Semiconductor (NASDAQ:NVTS) Shares Up 13% – Time to Buy?

Shares of Navitas Semiconductor Corporation (NASDAQ:NVTS) were up 13% during mid-day trading on Wednesday . The stock traded as high as $9.72 and last traded at $9.6850. Approximately 10,424,566 shares changed hands during trading, a decline of 54% from the average daily volume of 22,791,412 shares. The stock had previously closed at $8.57.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $7.00 price target on shares of Navitas Semiconductor in a report on Thursday, March 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Navitas Semiconductor in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $6.78.

Navitas Semiconductor Stock Up 1.3%

The stock has a market capitalization of $2.20 billion, a P/E ratio of -16.74 and a beta of 3.15. The company has a 50-day moving average price of $8.88 and a two-hundred day moving average price of $9.24.

Navitas Semiconductor (NASDAQ:NVTS) last issued its quarterly earnings data on Tuesday, February 24th. The company reported ($0.05) EPS for the quarter, meeting the consensus estimate of ($0.05). Navitas Semiconductor had a negative net margin of 254.71% and a negative return on equity of 14.52%. The company had revenue of $7.30 million during the quarter, compared to analysts’ expectations of $6.95 million. During the same quarter in the previous year, the company earned ($0.06) earnings per share. Navitas Semiconductor’s revenue for the quarter was down 59.4% on a year-over-year basis. On average, sell-side analysts expect that Navitas Semiconductor Corporation will post -0.51 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Chris Allexandre sold 9,236 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $8.93, for a total value of $82,477.48. Following the completion of the transaction, the chief executive officer directly owned 813,323 shares in the company, valued at approximately $7,262,974.39. This represents a 1.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ranbir Singh sold 389,096 shares of the stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $9.52, for a total value of $3,704,193.92. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 509,016 shares of company stock worth $4,967,814. Corporate insiders own 29.90% of the company’s stock.

Institutional Trading of Navitas Semiconductor

Hedge funds and other institutional investors have recently bought and sold shares of the company. Invesco Ltd. boosted its stake in shares of Navitas Semiconductor by 257.8% in the 4th quarter. Invesco Ltd. now owns 4,737,624 shares of the company’s stock valued at $33,827,000 after purchasing an additional 3,413,394 shares in the last quarter. Marex Group plc raised its position in Navitas Semiconductor by 22,203.8% in the 4th quarter. Marex Group plc now owns 2,675,113 shares of the company’s stock worth $19,100,000 after purchasing an additional 2,663,119 shares during the period. Vanguard Group Inc. raised its position in Navitas Semiconductor by 23.6% in the 3rd quarter. Vanguard Group Inc. now owns 13,360,648 shares of the company’s stock worth $96,464,000 after purchasing an additional 2,550,613 shares during the period. Ghisallo Capital Management LLC bought a new stake in Navitas Semiconductor in the fourth quarter worth $15,867,000. Finally, UBS Group AG lifted its stake in 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.