Navitas Semiconductor (NASDAQ:NVTS) Trading 12% Higher – Still a Buy?

Navitas Semiconductor Corporation (NASDAQ:NVTS)’s share price rose 12% on Thursday . The company traded as high as $10.89 and last traded at $10.9280. Approximately 16,889,560 shares traded hands during trading, a decline of 46% from the average daily volume of 31,282,465 shares. The stock had previously closed at $9.76.

Analysts Set New Price Targets

Several research firms recently commented on NVTS. Rosenblatt Securities reissued a “neutral” rating and set a $8.00 target price on shares of Navitas Semiconductor in a research note on Monday, November 10th. Weiss Ratings restated a “sell (d-)” rating on shares of Navitas Semiconductor in a research note on Wednesday, October 8th. Jefferies Financial Group raised shares of Navitas Semiconductor to a “hold” rating in a report on Tuesday, October 28th. Finally, Needham & Company LLC upped their target price on shares of Navitas Semiconductor from $8.00 to $13.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. Two analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $6.48.

Navitas Semiconductor Stock Up 15.7%

The firm has a market capitalization of $2.60 billion, a price-to-earnings ratio of -17.64 and a beta of 3.16. The company has a fifty day moving average price of $8.62 and a two-hundred day moving average price of $8.35.

Navitas Semiconductor (NASDAQ:NVTS) last announced its earnings results on Monday, November 3rd. The company reported ($0.05) EPS for the quarter, meeting analysts’ consensus estimates of ($0.05). Navitas Semiconductor had a negative net margin of 220.85% and a negative return on equity of 14.86%. The business had revenue of $10.11 million during the quarter, compared to analysts’ expectations of $10.00 million. During the same period in the prior year, the company earned ($0.10) earnings per share. The business’s revenue was down 53.4% compared to the same quarter last year. On average, equities analysts anticipate that Navitas Semiconductor Corporation will post -0.51 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Todd Glickman sold 78,307 shares of Navitas Semiconductor stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $9.77, for a total value of $765,059.39. Following the sale, the chief financial officer owned 813,279 shares of the company’s stock, valued at $7,945,735.83. The trade was a 8.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Brian Long sold 48,165 shares of the stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $8.50, for a total transaction of $409,402.50. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 3,426,898 shares of company stock worth $29,360,063. 29.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Navitas Semiconductor

A number of hedge funds and other institutional investors have recently bought and sold shares of NVTS. Kingsview Wealth Management LLC acquired a new position in shares of Navitas Semiconductor during the 2nd quarter worth $385,000. Cornerstone Investment Partners LLC acquired a new stake in shares of Navitas Semiconductor in the second quarter valued at about $461,000. Geode Capital Management LLC boosted its holdings in Navitas Semiconductor by 3.9% during the second quarter. Geode Capital Management LLC now owns 3,340,193 shares of the company’s stock worth $21,882,000 after buying an additional 124,594 shares in the last quarter. Journey Strategic Wealth LLC acquired a new position in Navitas Semiconductor during the second quarter worth about $229,000. Finally, Entropy Technologies LP purchased a new stake in shares of Navitas Semiconductor during the 2nd quarter worth approximately $759,000. Institutional investors and hedge funds 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.