Navitas Semiconductor (NASDAQ:NVTS) Shares Up 9.1% – Here’s Why

Navitas Semiconductor Corporation (NASDAQ:NVTS)’s stock price rose 9.1% during mid-day trading on Friday . The company traded as high as $11.15 and last traded at $10.91. Approximately 28,552,225 shares changed hands during trading, a decline of 17% from the average daily volume of 34,447,211 shares. The stock had previously closed at $10.00.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on NVTS shares. Jefferies Financial Group raised shares of Navitas Semiconductor to a “hold” rating in a research note on Tuesday, October 28th. Needham & Company LLC boosted their target price on Navitas Semiconductor from $8.00 to $13.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Navitas Semiconductor in a research report on Wednesday, October 8th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and set a $8.00 price target on shares of Navitas Semiconductor in a research note on Monday, November 10th. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $6.48.

Navitas Semiconductor Price Performance

The stock’s fifty day moving average is $8.49 and its 200-day moving average is $8.22. The stock has a market capitalization of $2.51 billion, a P/E ratio of -17.05 and a beta of 3.16.

Navitas Semiconductor (NASDAQ:NVTS) last announced its quarterly earnings results on Monday, November 3rd. The company reported ($0.05) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.05). The company had revenue of $10.11 million during the quarter, compared to analysts’ expectations of $10.00 million. Navitas Semiconductor had a negative return on equity of 14.86% and a negative net margin of 220.85%.The business’s quarterly revenue was down 53.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.10) earnings per share. On average, research analysts expect that Navitas Semiconductor Corporation will post -0.51 EPS for the current year.

Insider Transactions at Navitas Semiconductor

In other Navitas Semiconductor news, Director Gary Kent Wunderlich, Jr. sold 49,651 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $9.31, for a total transaction of $462,250.81. Following the completion of the sale, the director owned 86,964 shares of the company’s stock, valued at $809,634.84. This represents a 36.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brian Long sold 48,165 shares of Navitas Semiconductor stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $8.50, for a total transaction of $409,402.50. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 3,426,898 shares of company stock worth $29,360,063. 29.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake 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 worth $96,464,000 after purchasing an additional 2,550,613 shares during the period. Jump Financial LLC acquired a new stake in Navitas Semiconductor in the 3rd quarter valued at approximately $11,243,000. BNP Paribas Financial Markets increased its position in Navitas Semiconductor by 1,332.3% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,604,538 shares of the company’s stock worth $10,510,000 after buying an additional 1,492,512 shares during the period. Invesco Ltd. lifted its holdings in shares of Navitas Semiconductor by 75.2% during the second quarter. Invesco Ltd. now owns 3,206,008 shares of the company’s stock worth $20,999,000 after buying an additional 1,376,205 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Navitas Semiconductor by 1,742.4% during the second quarter. JPMorgan Chase & Co. now owns 1,428,386 shares of the company’s stock worth $9,356,000 after buying an additional 1,350,857 shares during the last quarter. Institutional investors and hedge funds 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.