Navitas Semiconductor (NASDAQ:NVTS) Shares Up 1.5% – Time to Buy?

Navitas Semiconductor Corporation (NASDAQ:NVTS)’s share price shot up 1.5% on Monday . The stock traded as high as $26.18 and last traded at $23.73. 35,710,217 shares were traded during mid-day trading, an increase of 23% from the average session volume of 29,135,602 shares. The stock had previously closed at $23.39.

Analysts Set New Price Targets

Several research firms have recently weighed in on NVTS. Needham & Company LLC upped their price target 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. Morgan Stanley reiterated an “underweight” rating and issued a $13.70 price target on shares of Navitas Semiconductor in a report on Wednesday, May 6th. Weiss Ratings cut shares of Navitas Semiconductor from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 2nd. Rosenblatt Securities upped their price target 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, Wall Street Zen upgraded shares of Navitas Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Navitas Semiconductor currently has an average rating of “Hold” and an average target price of $14.74.

Navitas Semiconductor Stock Up 1.1%

The company’s fifty day moving average is $19.89 and its 200 day moving average is $12.78. The firm has a market cap of $5.22 billion, a price-to-earnings ratio of -35.46 and a beta of 3.75.

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 net margin of 330.67% and a negative return on equity of 14.30%. The business had revenue of $8.60 million during the quarter, compared to analysts’ expectations of $8.22 million. During the same quarter in the prior year, the company posted ($0.06) earnings per share. The firm’s revenue was down 38.7% on a year-over-year basis. On average, equities research analysts forecast that Navitas Semiconductor Corporation will post -0.39 EPS for the current fiscal year.

Insider Activity

In other news, CEO Chris Allexandre sold 13,323 shares of Navitas Semiconductor stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $31.81, for a total value of $423,804.63. Following the completion of the transaction, the chief executive officer owned 1,072,633 shares of the company’s stock, valued at $34,120,455.73. This trade represents a 1.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ranbir Singh sold 664,058 shares of Navitas Semiconductor stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $28.72, for a total transaction of $19,071,745.76. Following the completion of the transaction, the director directly owned 14,943,475 shares of the company’s stock, valued at approximately $429,176,602. This trade represents a 4.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 3,989,478 shares of company stock worth $116,356,387. 12.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Bank of America Corp DE grew its position in shares of Navitas Semiconductor by 17.2% in the 1st quarter. Bank of America Corp DE now owns 826,674 shares of the company’s stock valued at $7,250,000 after acquiring an additional 121,162 shares during the period. Arkadios Wealth Advisors bought a new position in shares of Navitas Semiconductor in the first quarter valued at about $123,000. California State Teachers Retirement System raised its position in shares of Navitas Semiconductor by 39.8% in the first quarter. California State Teachers Retirement System now owns 227,220 shares of the company’s stock valued at $1,993,000 after purchasing an additional 64,643 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Navitas Semiconductor by 12.5% in the first quarter. The Manufacturers Life Insurance Company now owns 93,115 shares of the company’s stock valued at $817,000 after purchasing an additional 10,323 shares during the period. Finally, Quantinno Capital Management LP bought a new position in shares of Navitas Semiconductor in the first quarter valued at about $160,000. Institutional investors 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.