Navitas Semiconductor (NASDAQ:NVTS) Reaches New 52-Week High – Time to Buy?

Navitas Semiconductor Corporation (NASDAQ:NVTS)’s share price reached a new 52-week high during trading on Thursday . The company traded as high as $23.99 and last traded at $23.5690, with a volume of 11108344 shares trading hands. The stock had previously closed at $22.99.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on NVTS shares. Morgan Stanley reiterated an “underweight” rating and issued a $13.70 price target on shares of Navitas Semiconductor in a research note on Wednesday, May 6th. Robert W. Baird increased their price target on Navitas Semiconductor from $9.00 to $20.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. Needham & Company LLC increased their price target on Navitas Semiconductor from $13.00 to $21.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Wall Street Zen upgraded Navitas Semiconductor from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Navitas Semiconductor in a research note on Tuesday, April 21st. Two research 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. According to data from MarketBeat.com, Navitas Semiconductor currently has a consensus rating of “Hold” and an average price target of $12.87.

Navitas Semiconductor Stock Up 20.0%

The stock has a market capitalization of $6.84 billion, a PE ratio of -46.43 and a beta of 3.62. The firm has a 50 day moving average price of $13.90 and a 200-day moving average price of $10.59.

Navitas Semiconductor (NASDAQ:NVTS) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.04) earnings per share (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 firm had revenue of $8.60 million during the quarter, compared to analysts’ expectations of $8.22 million. During the same period last year, the business posted ($0.06) earnings per share. The company’s revenue for the quarter was down 38.7% compared to the same quarter last year. Equities analysts expect that Navitas Semiconductor Corporation will post -0.39 earnings per share for the current fiscal year.

Insider Transactions at Navitas Semiconductor

In other news, CFO Todd Glickman sold 98,152 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $10.78, for a total value of $1,058,078.56. Following the completion of the transaction, the chief financial officer directly owned 735,231 shares in the company, valued at $7,925,790.18. This trade represents a 11.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Ranbir Singh sold 389,096 shares of the firm’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $9.52, for a total value of $3,704,193.92. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 509,016 shares of company stock worth $4,967,814 over the last three months. 12.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NVTS. Invesco Ltd. raised its stake in shares of Navitas Semiconductor by 257.8% in the fourth 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 last quarter. Marex Group plc raised its position in Navitas Semiconductor by 22,203.8% during the fourth quarter. Marex Group plc now owns 2,675,113 shares of the company’s stock valued at $19,100,000 after acquiring an additional 2,663,119 shares in the last quarter. Vanguard Group Inc. raised its position in Navitas Semiconductor by 23.6% during the third quarter. Vanguard Group Inc. now owns 13,360,648 shares of the company’s stock valued at $96,464,000 after acquiring an additional 2,550,613 shares in the last quarter. Ghisallo Capital Management LLC purchased a new position in Navitas Semiconductor during the fourth quarter valued at approximately $15,867,000. Finally, UBS Group AG raised its position in Navitas Semiconductor by 131.0% during the fourth quarter. UBS Group AG now owns 3,307,036 shares of the company’s stock valued at $23,612,000 after acquiring an additional 1,875,228 shares in the last quarter. 46.14% of the stock is currently owned by hedge funds and other 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.