Navitas Semiconductor (NASDAQ:NVTS) Hits New 1-Year High – Here’s What Happened

Navitas Semiconductor Corporation (NASDAQ:NVTS)’s share price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $33.82 and last traded at $31.79, with a volume of 49926138 shares changing hands. The stock had previously closed at $29.25.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Navitas Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Needham & Company LLC boosted their target price on shares of Navitas Semiconductor from $13.00 to $21.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Robert W. Baird boosted their target price on shares of Navitas Semiconductor from $9.00 to $20.00 and gave the company an “outperform” rating in a report on Monday, May 4th. Rosenblatt Securities boosted their target price on shares of Navitas Semiconductor from $7.00 to $13.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Navitas Semiconductor in a report on Tuesday, April 21st. 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 company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $12.87.

Navitas Semiconductor Stock Up 8.7%

The firm’s 50 day simple moving average is $14.72 and its 200-day simple moving average is $10.87. The company has a market capitalization of $7.43 billion, a PE ratio of -50.46 and a beta of 3.62.

Navitas Semiconductor (NASDAQ:NVTS) last released 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 net margin of 330.67% and a negative return on equity of 14.30%. The company had revenue of $8.60 million during the quarter, compared to the consensus estimate of $8.22 million. During the same period in the previous year, the firm earned ($0.06) earnings per share. Navitas Semiconductor’s revenue for the quarter was down 38.7% on a year-over-year basis. 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, CEO Chris Allexandre sold 9,236 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $8.93, for a total transaction of $82,477.48. Following the completion of the sale, the chief executive officer directly owned 813,323 shares in the company, valued at $7,262,974.39. The trade was a 1.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Todd Glickman sold 98,152 shares of the business’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $10.78, for a total transaction of $1,058,078.56. Following the sale, the chief financial officer owned 735,231 shares of the company’s stock, valued at approximately $7,925,790.18. This represents a 11.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 509,016 shares of company stock worth $4,967,814 over the last ninety days. 12.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Prospera Financial Services Inc boosted its stake in shares of Navitas Semiconductor by 3.8% in the third quarter. Prospera Financial Services Inc now owns 30,285 shares of the company’s stock valued at $219,000 after purchasing an additional 1,120 shares during the period. Kestra Advisory Services LLC raised its holdings in Navitas Semiconductor by 2.8% in the first quarter. Kestra Advisory Services LLC now owns 42,189 shares of the company’s stock valued at $370,000 after acquiring an additional 1,150 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in Navitas Semiconductor by 12.6% in the fourth quarter. Russell Investments Group Ltd. now owns 13,476 shares of the company’s stock valued at $96,000 after acquiring an additional 1,505 shares in the last quarter. Captrust Financial Advisors raised its holdings in Navitas Semiconductor by 3.8% in the second quarter. Captrust Financial Advisors now owns 45,758 shares of the company’s stock valued at $300,000 after acquiring an additional 1,667 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC raised its holdings in Navitas Semiconductor by 16.8% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 11,996 shares of the company’s stock valued at $86,000 after acquiring an additional 1,725 shares in the last quarter. 46.14% of the stock is currently owned by hedge funds and other 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.