Navitas Semiconductor (NASDAQ:NVTS) Trading 8.3% Higher – Still a Buy?

Shares of Navitas Semiconductor Corporation (NASDAQ:NVTS) traded up 8.3% during mid-day trading on Thursday . The stock traded as high as $22.35 and last traded at $22.21. 22,845,701 shares were traded during mid-day trading, a decline of 21% from the average session volume of 29,074,160 shares. The stock had previously closed at $20.50.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Robert W. Baird upped their price objective on Navitas Semiconductor from $9.00 to $20.00 and gave the company an “outperform” rating in a research report on Monday, May 4th. Weiss Ratings cut Navitas Semiconductor from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 2nd. Wall Street Zen raised Navitas Semiconductor from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Needham & Company LLC upped their price objective on Navitas Semiconductor from $13.00 to $21.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Finally, Rosenblatt Securities upped their price objective on Navitas Semiconductor from $7.00 to $13.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $12.87.

Navitas Semiconductor Trading Up 5.3%

The firm has a market capitalization of $5.47 billion, a PE ratio of -37.13 and a beta of 3.75. The business’s 50 day simple moving average is $19.06 and its two-hundred day simple moving average is $12.44.

Navitas Semiconductor (NASDAQ:NVTS) last announced its earnings results on Tuesday, May 5th. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. The business had revenue of $8.60 million during the quarter, compared to analyst estimates 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 business earned ($0.06) EPS. As a group, equities research analysts anticipate that Navitas Semiconductor Corporation will post -0.39 earnings per share for the current year.

Insider Buying and Selling at Navitas Semiconductor

In other Navitas Semiconductor news, CFO Todd Glickman sold 98,152 shares of the business’s 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 completion of the sale, the chief financial officer directly owned 735,231 shares in the company, valued at approximately $7,925,790.18. The trade was a 11.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ranbir Singh sold 664,058 shares of the company’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $28.72, for a total transaction of $19,071,745.76. Following the completion of the transaction, the director directly owned 14,943,475 shares of the company’s stock, valued at $429,176,602. This represents a 4.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 4,087,630 shares of company stock worth $117,414,466. 12.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NVTS. Invesco Ltd. boosted its stake in Navitas Semiconductor by 257.8% in the 4th quarter. Invesco Ltd. now owns 4,737,624 shares of the company’s stock worth $33,827,000 after purchasing an additional 3,413,394 shares during the period. Marex Group plc boosted its stake 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. boosted its stake 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 position in Navitas Semiconductor in the 4th quarter worth approximately $15,867,000. Finally, UBS Group AG boosted its stake in Navitas Semiconductor by 131.0% in the 4th 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 period. 46.14% of the stock is currently owned by 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.