Navitas Semiconductor (NASDAQ:NVTS) Trading 1% Higher – What’s Next?

Navitas Semiconductor Corporation (NASDAQ:NVTS)’s stock price traded up 1% on Tuesday . The stock traded as high as $18.28 and last traded at $17.92. Approximately 14,967,893 shares traded hands during trading, a decline of 48% from the average daily volume of 28,606,736 shares. The stock had previously closed at $17.74.

Analyst Ratings Changes

NVTS has been the subject of a number of research reports. Wall Street Zen upgraded shares of Navitas Semiconductor from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Needham & Company LLC increased their price target on shares of Navitas Semiconductor from $13.00 to $21.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Robert W. Baird raised their price objective on shares of Navitas Semiconductor from $9.00 to $20.00 and gave the stock an “outperform” rating in a research note on Monday, May 4th. Rosenblatt Securities lifted their price objective on Navitas Semiconductor from $7.00 to $13.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Finally, Morgan Stanley reissued an “underweight” rating and set a $13.70 price target on shares of Navitas Semiconductor in a research report on Wednesday, May 6th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Navitas Semiconductor presently has a consensus rating of “Hold” and an average price target of $14.74.

Navitas Semiconductor Trading Up 1.0%

The company has a market capitalization of $4.19 billion, a price-to-earnings ratio of -28.44 and a beta of 3.75. The company’s 50 day simple moving average is $21.59 and its 200-day simple moving average is $13.43.

Navitas Semiconductor (NASDAQ:NVTS) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. The business had revenue of $8.60 million during the quarter, compared to analyst estimates of $8.22 million. Navitas Semiconductor had a negative net margin of 330.67% and a negative return on equity of 14.30%. The company’s revenue was down 38.7% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.06) earnings per share. Sell-side analysts anticipate that Navitas Semiconductor Corporation will post -0.39 EPS for the current year.

Insiders Place Their Bets

In other news, Director Richard J. Hendrix sold 110,165 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $28.96, for a total transaction of $3,190,378.40. Following the sale, the director owned 101,709 shares in the company, valued at $2,945,492.64. This trade represents a 52.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gary Kent Wunderlich, Jr. sold 73,000 shares of Navitas Semiconductor stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $28.11, for a total value of $2,052,030.00. Following the completion of the sale, the director directly owned 13,964 shares of the company’s stock, valued at approximately $392,528.04. This represents a 83.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 3,989,478 shares of company stock valued at $116,356,387. Insiders own 12.40% of the company’s stock.

Institutional Trading of Navitas Semiconductor

A number of hedge funds have recently added to or reduced their stakes in NVTS. Invesco Ltd. grew its holdings in Navitas Semiconductor by 257.8% in the 4th quarter. Invesco Ltd. now owns 4,737,624 shares of the company’s stock valued at $33,827,000 after buying an additional 3,413,394 shares during the period. Marex Group plc raised its stake 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 worth $19,100,000 after purchasing an additional 2,663,119 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Navitas Semiconductor by 23.6% in the 3rd 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 during the last quarter. Ghisallo Capital Management LLC acquired a new position in shares of Navitas Semiconductor in the 4th quarter valued at $15,867,000. Finally, UBS Group AG grew its stake in shares of Navitas Semiconductor by 131.0% during the 4th quarter. UBS Group AG now owns 3,307,036 shares of the company’s stock valued at $23,612,000 after buying an additional 1,875,228 shares during the period. 46.14% of the stock is owned by institutional investors and hedge funds.

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.