Navitas Semiconductor (NASDAQ:NVTS) Trading 11.2% Higher – Here’s Why

Navitas Semiconductor Corporation (NASDAQ:NVTS) rose 11.2% during trading on Tuesday . The company traded as high as $12.86 and last traded at $12.83. Approximately 11,868,913 shares traded hands during mid-day trading, a decline of 56% from the average daily volume of 27,203,676 shares. The stock had previously closed at $11.54.

Analyst Ratings Changes

NVTS has been the subject of several recent analyst reports. 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 note on Monday, May 4th. Wall Street Zen raised shares of Navitas Semiconductor from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Needham & Company LLC boosted their price target 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. Rosenblatt Securities upped their price objective 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. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $13.70 price objective on shares of Navitas Semiconductor in a research note on Wednesday, May 6th. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Navitas Semiconductor has an average rating of “Hold” and an average price target of $14.74.

Navitas Semiconductor Stock Up 11.1%

The firm has a market cap of $3.00 billion, a PE ratio of -20.35 and a beta of 3.82. The company has a 50-day simple moving average of $20.71 and a two-hundred day simple moving average of $14.06.

Navitas Semiconductor (NASDAQ:NVTS) last announced its earnings results on Tuesday, May 5th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.01. The firm had revenue of $8.60 million during the quarter, compared to analyst estimates of $8.22 million. Navitas Semiconductor had a negative return on equity of 14.30% and a negative net margin of 330.67%.The business’s revenue was down 38.7% compared to the same quarter last year. During the same period last year, the firm posted ($0.06) EPS. As a group, equities analysts predict that Navitas Semiconductor Corporation will post -0.39 earnings per share for the current year.

Insider Activity at Navitas Semiconductor

In other Navitas Semiconductor news, Director Gary Kent Wunderlich, Jr. sold 35,165 shares of Navitas Semiconductor stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $28.14, for a total value of $989,543.10. Following the sale, the director owned 2,375,060 shares of the company’s stock, valued at approximately $66,834,188.40. The trade was a 1.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Richard J. Hendrix sold 110,165 shares of the business’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $28.96, for a total transaction of $3,190,378.40. Following the completion of the transaction, the director owned 101,709 shares in the company, valued at approximately $2,945,492.64. The trade was a 52.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 3,989,478 shares of company stock worth $116,356,387. 12.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Navitas Semiconductor

Several institutional investors have recently bought and sold shares of NVTS. Beaird Harris Wealth Management LLC increased its position in Navitas Semiconductor by 247.8% in the second quarter. Beaird Harris Wealth Management LLC now owns 1,739 shares of the company’s stock worth $31,000 after buying an additional 1,239 shares during the last quarter. Allworth Financial LP raised its stake 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 buying an additional 2,698 shares during the period. Geneos Wealth Management Inc. lifted its position in shares of Navitas Semiconductor by 3,200.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 4,125 shares of the company’s stock valued at $36,000 after buying an additional 4,000 shares during the last quarter. NewEdge Advisors LLC lifted its position in shares of Navitas Semiconductor by 189.8% during the 2nd quarter. NewEdge Advisors LLC now owns 4,492 shares of the company’s stock valued at $29,000 after buying an additional 2,942 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Navitas Semiconductor by 116.5% during 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 period. 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.