Navitas Semiconductor (NASDAQ:NVTS) Shares Gap Up – Here’s What Happened

Navitas Semiconductor Corporation (NASDAQ:NVTS) shares gapped up prior to trading on Wednesday . The stock had previously closed at $25.86, but opened at $30.65. Navitas Semiconductor shares last traded at $31.82, with a volume of 36,691,134 shares traded.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on NVTS shares. Morgan Stanley reiterated an “underweight” rating and set a $13.70 target price on shares of Navitas Semiconductor in a research report on Wednesday, May 6th. Robert W. Baird upped 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 target price on shares of Navitas Semiconductor from $7.00 to $13.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Navitas Semiconductor in a report on Tuesday, April 21st. Finally, Wall Street Zen upgraded Navitas Semiconductor from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $12.87.

Navitas Semiconductor Stock Up 24.2%

The firm has a market capitalization of $7.50 billion, a price-to-earnings ratio of -50.97 and a beta of 3.75. The company’s fifty day moving average is $16.12 and its two-hundred day moving average is $11.38.

Navitas Semiconductor (NASDAQ:NVTS) last posted its earnings results 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. The company had revenue of $8.60 million during the quarter, compared to analyst estimates of $8.22 million. Navitas Semiconductor had a negative return on equity of 14.30% and a negative net margin of 330.67%.The company’s revenue for the quarter was down 38.7% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.06) EPS. On average, equities research analysts expect that Navitas Semiconductor Corporation will post -0.39 EPS for the current year.

Insider Buying and Selling at Navitas Semiconductor

In related news, Director Ranbir Singh sold 3,060,118 shares of the business’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 value of $89,630,856.22. Following the completion of the transaction, the director directly owned 15,607,533 shares in the company, valued at approximately $457,144,641.57. The trade was a 16.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Chris Allexandre sold 13,323 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $31.81, for a total transaction of $423,804.63. Following the sale, the chief executive officer owned 1,072,633 shares in the company, valued at $34,120,455.73. This trade represents a 1.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 4,087,630 shares of company stock worth $117,414,466 over the last three months. Company insiders own 12.40% of the company’s stock.

Hedge Funds Weigh In On Navitas Semiconductor

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Allworth Financial LP boosted its holdings in Navitas Semiconductor by 309.4% during the third quarter. Allworth Financial LP now owns 3,570 shares of the company’s stock worth $26,000 after purchasing an additional 2,698 shares during the last quarter. NewEdge Advisors LLC raised its stake in Navitas Semiconductor by 189.8% in the second quarter. NewEdge Advisors LLC now owns 4,492 shares of the company’s stock valued at $29,000 after buying an additional 2,942 shares during the period. GAMMA Investing LLC lifted its holdings in Navitas Semiconductor by 116.5% during the 4th quarter. GAMMA Investing LLC now owns 4,736 shares of the company’s stock valued at $34,000 after purchasing an additional 2,548 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of Navitas Semiconductor by 3,200.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 4,125 shares of the company’s stock worth $36,000 after buying an additional 4,000 shares during the period. Finally, State of Wyoming boosted its holdings in shares of Navitas Semiconductor by 92.8% during the first quarter. State of Wyoming now owns 4,803 shares of the company’s stock worth $42,000 after acquiring an additional 2,312 shares during the period. 46.14% of the stock is owned by institutional investors and hedge funds.

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.