Navitas Semiconductor (NASDAQ:NVTS) Shares Up 20% – Time to Buy?

Navitas Semiconductor Corporation (NASDAQ:NVTS) was up 20% during mid-day trading on Friday . The company traded as high as $29.50 and last traded at $29.25. Approximately 50,757,037 shares traded hands during mid-day trading, an increase of 82% from the average daily volume of 27,863,082 shares. The stock had previously closed at $24.38.

Wall Street Analyst Weigh In

Several brokerages have recently commented on NVTS. Wall Street Zen raised shares of Navitas Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Robert W. Baird boosted their price target on Navitas Semiconductor from $9.00 to $20.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. Rosenblatt Securities increased their price target on Navitas Semiconductor from $7.00 to $13.00 and gave the stock a “neutral” rating in a research report 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, Morgan Stanley reaffirmed an “underweight” rating and issued a $13.70 price objective on shares of Navitas Semiconductor in a report on Wednesday, May 6th. Two 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 data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $12.87.

Navitas Semiconductor Price Performance

The business’s 50-day simple moving average is $13.53 and its two-hundred day simple moving average is $10.46. The stock has a market cap of $6.84 billion, a price-to-earnings ratio of -46.43 and a beta of 3.62.

Navitas Semiconductor (NASDAQ:NVTS) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.04) earnings per share for the quarter, beating 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 company had revenue of $8.60 million for the quarter, compared to the consensus estimate of $8.22 million. During the same quarter last year, the business posted ($0.06) EPS. Navitas Semiconductor’s revenue for the quarter was down 38.7% on a year-over-year basis. Equities research analysts forecast that Navitas Semiconductor Corporation will post -0.39 earnings per share for the current year.

Insider Activity

In other Navitas Semiconductor news, Director Ranbir Singh sold 389,096 shares of the company’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 sale was disclosed in a legal 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 on Tuesday, March 3rd. The shares were sold at an average price of $8.93, for a total transaction of $82,477.48. Following the transaction, the chief executive officer directly owned 813,323 shares of the company’s stock, valued at $7,262,974.39. The trade was a 1.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 509,016 shares of company stock valued at $4,967,814 over the last quarter. 12.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. DNB Asset Management AS bought a new stake in Navitas Semiconductor in the fourth quarter valued at approximately $774,000. UBS Group AG increased its position 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 purchasing an additional 1,875,228 shares during the period. Diversify Advisory Services LLC bought a new position in Navitas Semiconductor during the 3rd quarter worth approximately $960,000. Newbridge Financial Services Group Inc. lifted its position in shares of Navitas Semiconductor by 1,425.5% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 132,874 shares of the company’s stock worth $949,000 after purchasing an additional 124,164 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Navitas Semiconductor in the 4th quarter worth approximately $484,000. 46.14% of the stock is owned by institutional investors.

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.