Navitas Semiconductor (NASDAQ:NVTS) Trading 19.3% Higher – Still a Buy?

Navitas Semiconductor Corporation (NASDAQ:NVTS)’s share price traded up 19.3% during trading on Wednesday . The stock traded as high as $34.17 and last traded at $30.84. 110,957,568 shares traded hands during trading, an increase of 285% from the average session volume of 28,790,441 shares. The stock had previously closed at $25.86.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Weiss Ratings lowered Navitas Semiconductor from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday. Needham & Company LLC upped their target price on Navitas Semiconductor from $13.00 to $21.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Rosenblatt Securities upped their target price on Navitas Semiconductor from $7.00 to $13.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Morgan Stanley restated an “underweight” rating and set a $13.70 target price on shares of Navitas Semiconductor in a research report on Wednesday, May 6th. Finally, Wall Street Zen upgraded Navitas Semiconductor from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Two investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $12.87.

Navitas Semiconductor Stock Performance

The business has a 50 day moving average of $17.32 and a two-hundred day moving average of $11.83. The firm has a market capitalization of $5.86 billion, a price-to-earnings ratio of -39.81 and a beta of 3.75.

Navitas Semiconductor (NASDAQ:NVTS) last posted its quarterly 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. 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 prior year, the business earned ($0.06) EPS. The firm’s revenue for the quarter was down 38.7% on a year-over-year basis. On average, equities analysts predict that Navitas Semiconductor Corporation will post -0.39 EPS for the current fiscal year.

Insider Buying and Selling at Navitas Semiconductor

In related news, Director Ranbir Singh sold 3,060,118 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $29.29, for a total transaction of $89,630,856.22. Following the transaction, the director directly owned 15,607,533 shares of the company’s stock, valued at approximately $457,144,641.57. This represents a 16.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Todd Glickman sold 98,152 shares of the company’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 value of $1,058,078.56. Following the transaction, the chief financial officer directly owned 735,231 shares in the company, valued at approximately $7,925,790.18. This trade represents a 11.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 4,087,630 shares of company stock worth $117,414,466 in the last quarter. Company insiders own 12.40% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of NVTS. Invesco Ltd. lifted its holdings 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 valued at $33,827,000 after purchasing an additional 3,413,394 shares in the last quarter. Marex Group plc lifted its holdings in shares of Navitas Semiconductor by 22,203.8% in the fourth quarter. Marex Group plc now owns 2,675,113 shares of the company’s stock valued at $19,100,000 after purchasing an additional 2,663,119 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Navitas Semiconductor by 23.6% in the third quarter. Vanguard Group Inc. now owns 13,360,648 shares of the company’s stock valued at $96,464,000 after purchasing an additional 2,550,613 shares in the last quarter. Ghisallo Capital Management LLC bought a new position in shares of Navitas Semiconductor in the fourth quarter valued at approximately $15,867,000. Finally, UBS Group AG lifted its holdings in shares of Navitas Semiconductor by 131.0% in the fourth quarter. UBS Group AG now owns 3,307,036 shares of the company’s stock valued at $23,612,000 after purchasing an additional 1,875,228 shares in the last quarter. Institutional investors own 46.14% of the company’s stock.

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.