Navitas Semiconductor (NASDAQ:NVTS) Reaches New 12-Month High – Still a Buy?

Navitas Semiconductor Corporation (NASDAQ:NVTS) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $23.99 and last traded at $23.5690, with a volume of 11108344 shares traded. The stock had previously closed at $22.99.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Navitas Semiconductor in a research note on Tuesday, April 21st. Wall Street Zen upgraded shares of Navitas Semiconductor from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Needham & Company LLC upped 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. Robert W. Baird upped their target price on shares of Navitas Semiconductor from $9.00 to $20.00 and gave the stock an “outperform” rating in a research report on Monday, May 4th. Finally, Rosenblatt Securities upped their target price on shares of Navitas Semiconductor from $7.00 to $13.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $12.87.

Navitas Semiconductor Price Performance

The stock’s 50-day moving average is $13.21 and its two-hundred day moving average is $10.38. The stock has a market cap of $5.78 billion, a P/E ratio of -39.17 and a beta of 3.62.

Navitas Semiconductor (NASDAQ:NVTS) last issued its earnings results on Tuesday, May 5th. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. Navitas Semiconductor had a negative net margin of 330.67% and a negative return on equity of 14.30%. The firm had revenue of $8.60 million during the quarter, compared to analyst estimates of $8.22 million. During the same quarter in the prior year, the business earned ($0.06) earnings per share. Navitas Semiconductor’s revenue for the quarter was down 38.7% on a year-over-year basis. On average, analysts anticipate that Navitas Semiconductor Corporation will post -0.39 EPS for the current fiscal year.

Insider Buying and Selling at Navitas Semiconductor

In other Navitas Semiconductor news, Director Ranbir Singh sold 389,096 shares of the stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $9.52, for a total transaction of $3,704,193.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Todd Glickman sold 98,152 shares of the stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $10.78, for a total transaction of $1,058,078.56. Following the transaction, the chief financial officer owned 735,231 shares of the company’s stock, valued at $7,925,790.18. This trade represents a 11.78% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 509,016 shares of company stock worth $4,967,814 over the last 90 days. 12.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Navitas Semiconductor

Institutional investors have recently bought and sold shares of the business. Allworth Financial LP lifted its position in Navitas Semiconductor by 309.4% during 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 last quarter. NewEdge Advisors LLC lifted its position in Navitas Semiconductor by 189.8% during 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 last quarter. CWM LLC lifted its position in Navitas Semiconductor by 24.7% during 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 last quarter. GAMMA Investing LLC lifted its holdings in shares of Navitas Semiconductor by 116.5% in the 4th quarter. GAMMA Investing LLC now owns 4,736 shares of the company’s stock worth $34,000 after acquiring an additional 2,548 shares during the last quarter. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of Navitas Semiconductor by 3,200.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 4,125 shares of the company’s stock worth $36,000 after acquiring an additional 4,000 shares during the last quarter. 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.