Navitas Semiconductor (NASDAQ:NVTS) Trading 8.3% Higher – What’s Next?

Navitas Semiconductor Corporation (NASDAQ:NVTS) shares shot up 8.3% on Thursday . The stock traded as high as $22.35 and last traded at $22.21. 22,845,701 shares traded hands during trading, a decline of 21% from the average session volume of 29,074,160 shares. The stock had previously closed at $20.50.

Wall Street Analyst Weigh In

Several brokerages have commented on NVTS. Weiss Ratings lowered shares of Navitas Semiconductor from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 2nd. Rosenblatt Securities increased their target price on shares of Navitas Semiconductor from $7.00 to $13.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Needham & Company LLC lifted their price target on shares of Navitas Semiconductor from $13.00 to $21.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Wall Street Zen upgraded Navitas Semiconductor from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Morgan Stanley reissued an “underweight” rating and set a $13.70 price objective on shares of Navitas Semiconductor in a report on Wednesday, May 6th. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Navitas Semiconductor presently has a consensus rating of “Hold” and a consensus price target of $12.87.

Navitas Semiconductor Trading Up 8.3%

The company has a market capitalization of $5.19 billion, a P/E ratio of -35.25 and a beta of 3.75. The company’s fifty day moving average is $18.49 and its 200 day moving average is $12.26.

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

Insider Activity at Navitas Semiconductor

In other news, CEO Chris Allexandre sold 13,323 shares of the company’s stock in a transaction dated 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 directly owned 1,072,633 shares in the company, valued at $34,120,455.73. This represents a 1.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Ranbir Singh sold 664,058 shares of the stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $28.72, for a total transaction of $19,071,745.76. Following the completion of the sale, the director directly owned 14,943,475 shares in the company, valued at approximately $429,176,602. The trade was a 4.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 4,087,630 shares of company stock worth $117,414,466 in the last 90 days. 12.40% of the stock is owned by company insiders.

Institutional Trading of Navitas Semiconductor

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. DNB Asset Management AS purchased a new position in Navitas Semiconductor during the fourth quarter worth about $774,000. UBS Group AG raised its holdings in shares of Navitas Semiconductor by 131.0% in the 4th quarter. UBS Group AG now owns 3,307,036 shares of the company’s stock valued at $23,612,000 after acquiring an additional 1,875,228 shares in the last quarter. Diversify Advisory Services LLC purchased a new stake in shares of Navitas Semiconductor in the 3rd quarter valued at about $960,000. Newbridge Financial Services Group Inc. boosted its position in shares of Navitas Semiconductor by 1,425.5% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 132,874 shares of the company’s stock valued at $949,000 after acquiring an additional 124,164 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Navitas Semiconductor during the fourth quarter worth about $484,000. 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.