Navitas Semiconductor (NASDAQ:NVTS) Trading 8.6% Higher – Here’s Why

Navitas Semiconductor Corporation (NASDAQ:NVTS)’s stock price rose 8.6% during trading on Thursday . The stock traded as high as $22.76 and last traded at $22.9860. Approximately 15,545,814 shares traded hands during mid-day trading, a decline of 43% from the average daily volume of 27,062,957 shares. The stock had previously closed at $21.17.

Analyst Ratings Changes

NVTS has been the subject of several analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Navitas Semiconductor in a research note on Tuesday, April 21st. Needham & Company LLC increased their price objective on shares of Navitas Semiconductor from $13.00 to $21.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Robert W. Baird increased their price objective on shares of Navitas Semiconductor from $9.00 to $20.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. Wall Street Zen upgraded shares of Navitas Semiconductor from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Rosenblatt Securities increased their price objective 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. 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’s stock. According to MarketBeat.com, Navitas Semiconductor presently has an average rating of “Hold” and a consensus target price of $12.87.

Navitas Semiconductor Trading Down 4.5%

The stock’s 50-day moving average price is $12.48 and its two-hundred day moving average price is $10.25. The stock has a market capitalization of $4.98 billion, a P/E ratio of -33.84 and a beta of 3.62.

Navitas Semiconductor (NASDAQ:NVTS) last released its earnings results on Tuesday, May 5th. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. The firm had revenue of $8.60 million during the quarter, compared to the consensus estimate of $8.22 million. Navitas Semiconductor had a negative net margin of 330.67% and a negative return on equity of 14.30%. The company’s revenue was down 38.7% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.06) EPS. On average, equities research analysts predict that Navitas Semiconductor Corporation will post -0.39 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Ranbir Singh sold 389,096 shares of the firm’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $9.52, for a total value of $3,704,193.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction of $82,477.48. Following the completion of the transaction, the chief executive officer directly owned 813,323 shares of the company’s stock, valued at approximately $7,262,974.39. This trade represents a 1.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 509,016 shares of company stock valued at $4,967,814. Company insiders own 29.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Allworth Financial LP boosted its holdings in Navitas Semiconductor by 309.4% in the 3rd quarter. Allworth Financial LP now owns 3,570 shares of the company’s stock worth $26,000 after buying an additional 2,698 shares during the period. 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 worth $29,000 after buying an additional 2,942 shares during the period. CWM LLC lifted its stake 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 in the last quarter. GAMMA Investing LLC lifted its stake in Navitas Semiconductor by 116.5% in the 4th quarter. GAMMA Investing LLC now owns 4,736 shares of the company’s stock worth $34,000 after purchasing an additional 2,548 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its stake in Navitas Semiconductor by 3,200.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 4,125 shares of the company’s stock worth $36,000 after purchasing an additional 4,000 shares in the last quarter. 46.14% of the stock is owned by institutional investors.

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.