Navitas Semiconductor (NASDAQ:NVTS) Trading 5.6% Higher – Here’s Why

Navitas Semiconductor Corporation (NASDAQ:NVTS)’s share price traded up 5.6% during trading on Wednesday . The stock traded as high as $20.78 and last traded at $20.5170. 4,107,119 shares were traded during mid-day trading, a decline of 85% from the average session volume of 27,157,129 shares. The stock had previously closed at $19.43.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Wall Street Zen upgraded shares of Navitas Semiconductor from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Navitas Semiconductor in a report on Tuesday, April 21st. Robert W. Baird increased their target price on Navitas Semiconductor from $9.00 to $20.00 and gave the company an “outperform” rating in a report on Monday, May 4th. Needham & Company LLC increased their target price on Navitas Semiconductor from $13.00 to $21.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Finally, Morgan Stanley reiterated an “underweight” rating and set a $13.70 target price on shares of Navitas Semiconductor in a report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Navitas Semiconductor presently has a consensus rating of “Hold” and a consensus target price of $12.87.

Navitas Semiconductor Stock Up 14.7%

The firm has a market capitalization of $5.21 billion, a PE ratio of -35.05 and a beta of 3.62. The business’s fifty day moving average price is $12.92 and its 200 day moving average price is $10.31.

Navitas Semiconductor (NASDAQ:NVTS) last issued its quarterly earnings results 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 net margin of 330.67% and a negative return on equity of 14.30%. The company’s quarterly revenue was down 38.7% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.06) earnings per share. As a group, sell-side analysts forecast that Navitas Semiconductor Corporation will post -0.39 earnings per share for the current fiscal year.

Insider Transactions at Navitas Semiconductor

In other news, CFO Todd Glickman sold 98,152 shares of the firm’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $10.78, for a total transaction of $1,058,078.56. Following the sale, the chief financial officer owned 735,231 shares in the company, valued at $7,925,790.18. This trade represents a 11.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ranbir Singh sold 389,096 shares of the firm’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $9.52, for a total value of $3,704,193.92. The disclosure for this sale is available in the SEC filing. Insiders have sold 509,016 shares of company stock worth $4,967,814 over the last quarter. 12.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Navitas Semiconductor

Several hedge funds have recently made changes to their positions in NVTS. Allworth Financial LP grew its holdings in 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 during the period. NewEdge Advisors LLC grew its holdings in Navitas Semiconductor by 189.8% in the second quarter. NewEdge Advisors LLC now owns 4,492 shares of the company’s stock valued at $29,000 after purchasing an additional 2,942 shares during the period. CWM LLC grew its holdings in Navitas Semiconductor by 24.7% in the third quarter. CWM LLC now owns 4,515 shares of the company’s stock valued at $33,000 after purchasing an additional 893 shares during the period. GAMMA Investing LLC grew its holdings in Navitas Semiconductor by 116.5% in the fourth quarter. GAMMA Investing LLC now owns 4,736 shares of the company’s stock valued at $34,000 after purchasing an additional 2,548 shares during the period. Finally, Geneos Wealth Management Inc. grew its holdings in Navitas Semiconductor by 3,200.0% in the first quarter. Geneos Wealth Management Inc. now owns 4,125 shares of the company’s stock valued at $36,000 after purchasing an additional 4,000 shares during the period. Institutional investors and hedge funds own 46.14% of the company’s stock.

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.