Navitas Semiconductor (NASDAQ:NVTS) Trading Up 7.5% – Still a Buy?

Shares of Navitas Semiconductor Corporation (NASDAQ:NVTS) shot up 7.5% during mid-day trading on Thursday . The company traded as high as $24.23 and last traded at $24.02. 23,149,342 shares were traded during trading, a decline of 20% from the average session volume of 28,946,402 shares. The stock had previously closed at $22.34.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on NVTS. Wall Street Zen raised Navitas Semiconductor from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings cut Navitas Semiconductor from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 2nd. Robert W. Baird upped their price target on Navitas Semiconductor from $9.00 to $20.00 and gave the stock an “outperform” rating in a report on Monday, May 4th. Morgan Stanley restated an “underweight” rating and set a $13.70 price objective on shares of Navitas Semiconductor in a research note on Wednesday, May 6th. Finally, Needham & Company LLC lifted their price objective on shares of Navitas Semiconductor from $13.00 to $21.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Navitas Semiconductor has a consensus rating of “Hold” and an average target price of $14.74.

Navitas Semiconductor Stock Performance

The company’s 50 day simple moving average is $19.89 and its 200 day simple moving average is $12.78. The stock has a market cap of $5.61 billion, a PE ratio of -38.13 and a beta of 3.75.

Navitas Semiconductor (NASDAQ:NVTS) last announced 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. The firm had revenue of $8.60 million for the quarter, compared to the consensus estimate of $8.22 million. Navitas Semiconductor had a negative return on equity of 14.30% and a negative net margin of 330.67%.The company’s revenue was down 38.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.06) EPS. Equities research analysts expect that Navitas Semiconductor Corporation will post -0.39 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Gary Kent Wunderlich, Jr. sold 73,000 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $28.11, for a total transaction of $2,052,030.00. Following the completion of the sale, the director directly owned 13,964 shares of the company’s stock, valued at $392,528.04. This trade represents a 83.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Chris Allexandre sold 13,323 shares of Navitas Semiconductor stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $31.81, for a total value of $423,804.63. Following the sale, the chief executive officer owned 1,072,633 shares in the company, valued at $34,120,455.73. The trade was a 1.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 3,989,478 shares of company stock worth $116,356,387 in the last ninety days. Company insiders own 12.40% of the company’s stock.

Hedge Funds Weigh In On Navitas Semiconductor

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Invesco Ltd. increased its holdings in Navitas Semiconductor by 257.8% during the fourth quarter. Invesco Ltd. now owns 4,737,624 shares of the company’s stock worth $33,827,000 after buying an additional 3,413,394 shares during the last quarter. Marex Group plc raised its position in Navitas Semiconductor by 22,203.8% in the fourth quarter. Marex Group plc now owns 2,675,113 shares of the company’s stock worth $19,100,000 after acquiring an additional 2,663,119 shares during the period. Vanguard Group Inc. boosted its stake in Navitas Semiconductor by 23.6% in the third quarter. Vanguard Group Inc. now owns 13,360,648 shares of the company’s stock valued at $96,464,000 after acquiring an additional 2,550,613 shares during the last quarter. Ghisallo Capital Management LLC purchased a new position in Navitas Semiconductor in the fourth quarter valued at about $15,867,000. Finally, UBS Group AG grew its position in shares of Navitas Semiconductor by 131.0% during the 4th quarter. UBS Group AG now owns 3,307,036 shares of the company’s stock valued at $23,612,000 after acquiring an additional 1,875,228 shares during the period. 46.14% of the stock is owned by hedge funds and other institutional investors.

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.