Navitas Semiconductor (NASDAQ:NVTS) Shares Gap Up – Still a Buy?

Navitas Semiconductor Corporation (NASDAQ:NVTS) gapped up prior to trading on Tuesday . The stock had previously closed at $10.43, but opened at $10.83. Navitas Semiconductor shares last traded at $9.8050, with a volume of 9,388,030 shares trading hands.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on NVTS shares. Rosenblatt Securities reiterated a “neutral” rating and set a $8.00 price target on shares of Navitas Semiconductor in a report on Monday, November 10th. Needham & Company LLC raised their price objective on shares of Navitas Semiconductor from $8.00 to $13.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. Jefferies Financial Group upgraded shares of Navitas Semiconductor to a “hold” rating in a research note on Tuesday, October 28th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Navitas Semiconductor in a research note on Wednesday, October 8th. 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 $6.48.

Navitas Semiconductor Price Performance

The company has a market cap of $2.17 billion, a price-to-earnings ratio of -14.70 and a beta of 3.16. The firm has a fifty day simple moving average of $8.48 and a 200 day simple moving average of $8.18.

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

Insider Activity at Navitas Semiconductor

In other news, Director Ranbir Singh sold 179,354 shares of the firm’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $8.68, for a total value of $1,556,792.72. Following the sale, the director directly owned 389,096 shares of the company’s stock, valued at approximately $3,377,353.28. This trade represents a 31.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Brian Long sold 48,165 shares of Navitas Semiconductor stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $8.50, for a total value of $409,402.50. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 3,426,898 shares of company stock valued at $29,360,063. 29.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Cranbrook Wealth Management LLC bought a new stake in shares of Navitas Semiconductor in the second quarter valued at approximately $25,000. Allworth Financial LP raised its stake in Navitas Semiconductor by 309.4% during the 3rd quarter. Allworth Financial LP now owns 3,570 shares of the company’s stock valued at $26,000 after purchasing an additional 2,698 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in Navitas Semiconductor by 189.8% in the 2nd quarter. NewEdge Advisors LLC now owns 4,492 shares of the company’s stock valued at $29,000 after purchasing an additional 2,942 shares during the period. ST Germain D J Co. Inc. bought a new stake in Navitas Semiconductor in the 2nd quarter valued at $33,000. Finally, CWM LLC grew its position in Navitas Semiconductor by 24.7% in the 3rd quarter. CWM LLC now owns 4,515 shares of the company’s stock worth $33,000 after purchasing an additional 893 shares during the last quarter. 46.14% of the stock is currently 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.