Navitas Semiconductor (NASDAQ:NVTS) Shares Gap Up – Time to Buy?

Navitas Semiconductor Corporation (NASDAQ:NVTS) gapped up before the market opened on Wednesday . The stock had previously closed at $19.25, but opened at $20.81. Navitas Semiconductor shares last traded at $19.9820, with a volume of 9,620,367 shares changing hands.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Needham & Company LLC boosted their target price on Navitas Semiconductor from $13.00 to $21.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Navitas Semiconductor in a report on Tuesday, April 21st. Morgan Stanley reissued an “underweight” rating and issued a $13.70 target price on shares of Navitas Semiconductor in a report on Wednesday, May 6th. Wall Street Zen raised Navitas Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Rosenblatt Securities boosted their target price on Navitas Semiconductor from $7.00 to $13.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $12.87.

Navitas Semiconductor Trading Up 11.7%

The firm has a market capitalization of $4.96 billion, a price-to-earnings ratio of -34.21 and a beta of 3.62. The firm has a fifty day moving average price of $11.74 and a 200 day moving average price of $10.06.

Navitas Semiconductor (NASDAQ:NVTS) last announced its earnings results on Tuesday, May 5th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.01. Navitas Semiconductor had a negative return on equity of 14.30% and a negative net margin of 330.67%.The business had revenue of $8.60 million for the quarter, compared to the consensus estimate of $8.22 million. During the same period in the previous year, the business earned ($0.06) EPS. Navitas Semiconductor’s revenue was down 38.7% compared to the same quarter last year. As a group, equities analysts predict that Navitas Semiconductor Corporation will post -0.26 EPS for the current fiscal year.

Insiders Place Their Bets

In other Navitas Semiconductor news, Director Ranbir Singh sold 389,096 shares of the company’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $9.52, for a total transaction of $3,704,193.92. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Chris Allexandre sold 9,236 shares of the company’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $8.93, for a total value of $82,477.48. Following the transaction, the chief executive officer directly owned 813,323 shares in the company, valued at approximately $7,262,974.39. This represents a 1.12% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 509,016 shares of company stock valued at $4,967,814. 29.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Allworth Financial LP lifted its holdings in Navitas Semiconductor by 309.4% during the 3rd quarter. Allworth Financial LP now owns 3,570 shares of the company’s stock worth $26,000 after buying an additional 2,698 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in Navitas Semiconductor by 3,200.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 4,125 shares of the company’s stock worth $36,000 after buying an additional 4,000 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in Navitas Semiconductor by 189.8% during the 2nd quarter. NewEdge Advisors LLC now owns 4,492 shares of the company’s stock worth $29,000 after buying an additional 2,942 shares in the last quarter. CWM LLC lifted its holdings in Navitas Semiconductor by 24.7% during the 3rd quarter. CWM LLC now owns 4,515 shares of the company’s stock worth $33,000 after buying an additional 893 shares in the last quarter. Finally, GAMMA Investing LLC raised its position 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 valued at $34,000 after acquiring an additional 2,548 shares during the last quarter. 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.