Navitas Semiconductor (NASDAQ:NVTS) Trading Up 8.7% – Still a Buy?

Navitas Semiconductor Corporation (NASDAQ:NVTS) was up 8.7% on Tuesday . The company traded as high as $33.82 and last traded at $31.79. Approximately 49,679,049 shares were traded during trading, an increase of 77% from the average daily volume of 28,088,633 shares. The stock had previously closed at $29.25.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on NVTS shares. Needham & Company LLC raised their price objective on Navitas Semiconductor from $13.00 to $21.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Morgan Stanley restated an “underweight” rating and set a $13.70 price objective on shares of Navitas Semiconductor in a research note on Wednesday, May 6th. Rosenblatt Securities raised their price objective on 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 restated a “sell (d-)” rating on shares of Navitas Semiconductor in a research note on Tuesday, April 21st. Finally, Wall Street Zen upgraded Navitas Semiconductor from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $12.87.

Navitas Semiconductor Trading Down 1.3%

The company has a market cap of $6.66 billion, a price-to-earnings ratio of -45.25 and a beta of 3.62. The firm has a 50-day moving average price of $15.46 and a 200 day moving average price of $11.15.

Navitas Semiconductor (NASDAQ:NVTS) last issued 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. 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 business’s revenue was down 38.7% on a year-over-year basis. During the same quarter last year, the firm earned ($0.06) EPS. Research analysts anticipate that Navitas Semiconductor Corporation will post -0.39 earnings per share for the current fiscal year.

Insider Activity at Navitas Semiconductor

In related news, CFO Todd Glickman sold 98,152 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $10.78, for a total value of $1,058,078.56. Following the sale, the chief financial officer owned 735,231 shares of the company’s stock, valued at approximately $7,925,790.18. This trade represents a 11.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Chris Allexandre sold 9,236 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $8.93, for a total value of $82,477.48. Following the completion of the sale, the chief executive officer directly owned 813,323 shares in the company, valued at approximately $7,262,974.39. This trade represents a 1.12% decrease in their position. The disclosure for this sale is available in the SEC filing. 12.40% of the stock is currently owned by company insiders.

Institutional Trading of Navitas Semiconductor

Several hedge funds have recently made changes to their positions in NVTS. Invesco Ltd. lifted its holdings in shares of Navitas Semiconductor by 257.8% in the 4th quarter. Invesco Ltd. now owns 4,737,624 shares of the company’s stock worth $33,827,000 after purchasing an additional 3,413,394 shares during the last quarter. Marex Group plc lifted its holdings in shares of Navitas Semiconductor by 22,203.8% in the 4th 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 last quarter. Vanguard Group Inc. lifted 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 worth $96,464,000 after purchasing an additional 2,550,613 shares during the last quarter. Ghisallo Capital Management LLC bought a new stake in shares of Navitas Semiconductor in the 4th quarter worth approximately $15,867,000. Finally, UBS Group AG raised its stake in 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 acquiring an additional 1,875,228 shares in the last quarter. 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.