Navitas Semiconductor (NASDAQ:NVTS) Trading Up 5.3% – Should You Buy?

Navitas Semiconductor Corporation (NASDAQ:NVTS)’s stock price was up 5.3% on Friday . The stock traded as high as $24.59 and last traded at $23.39. Approximately 28,666,000 shares traded hands during trading, a decline of 1% from the average daily volume of 29,075,619 shares. The stock had previously closed at $22.21.

Analysts Set New Price Targets

Several analysts have recently weighed in on NVTS shares. Needham & Company LLC boosted their price target on Navitas Semiconductor from $13.00 to $21.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Rosenblatt Securities boosted their price target on Navitas Semiconductor from $7.00 to $13.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Robert W. Baird boosted 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 target on shares of Navitas Semiconductor in a report on Wednesday, May 6th. Finally, Wall Street Zen upgraded Navitas Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Navitas Semiconductor has a consensus rating of “Hold” and a consensus price target of $12.87.

Navitas Semiconductor Stock Up 5.3%

The stock has a 50 day moving average of $19.06 and a 200 day moving average of $12.44. The company has a market capitalization of $5.47 billion, a price-to-earnings ratio of -37.13 and a beta of 3.75.

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. The business had revenue of $8.60 million during 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 firm’s revenue for the quarter was down 38.7% on a year-over-year basis. During the same period in the previous year, the company posted ($0.06) earnings per share. As a group, sell-side analysts anticipate that Navitas Semiconductor Corporation will post -0.39 EPS for the current fiscal year.

Insiders Place Their Bets

In other Navitas Semiconductor news, Director Richard J. Hendrix sold 110,165 shares of Navitas Semiconductor stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $28.96, for a total value of $3,190,378.40. Following the completion of the sale, the director directly 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Chris Allexandre sold 13,323 shares of Navitas Semiconductor stock in a transaction that occurred 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 completion of the sale, the chief executive officer owned 1,072,633 shares of the company’s stock, valued at approximately $34,120,455.73. The trade was a 1.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 4,087,630 shares of company stock valued at $117,414,466 in the last 90 days. Company insiders own 12.40% of the company’s stock.

Institutional Investors Weigh In On Navitas Semiconductor

Hedge funds have recently added to or reduced their stakes in the business. DNB Asset Management AS bought a new stake in Navitas Semiconductor during the fourth quarter worth $774,000. UBS Group AG grew its holdings in Navitas Semiconductor by 131.0% during the fourth quarter. UBS Group AG now owns 3,307,036 shares of the company’s stock worth $23,612,000 after buying an additional 1,875,228 shares in the last quarter. Diversify Advisory Services LLC bought a new stake in Navitas Semiconductor during the third quarter worth $960,000. Newbridge Financial Services Group Inc. grew its holdings in Navitas Semiconductor by 1,425.5% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 132,874 shares of the company’s stock worth $949,000 after buying an additional 124,164 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Navitas Semiconductor during the fourth quarter worth $484,000. 46.14% of the stock is currently owned by institutional investors.

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.