Navitas Semiconductor (NASDAQ:NVTS) Trading 5.3% Higher – What’s Next?

Navitas Semiconductor Corporation (NASDAQ:NVTS) shares traded up 5.3% during mid-day trading on Monday . The stock traded as high as $16.12 and last traded at $15.23. 14,001,632 shares traded hands during mid-day trading, a decline of 51% from the average daily volume of 28,392,639 shares. The stock had previously closed at $14.46.

Wall Street Analysts Forecast Growth

NVTS has been the subject of several research reports. Weiss Ratings upgraded Navitas Semiconductor from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, June 17th. Wall Street Zen raised shares of Navitas Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Morgan Stanley reiterated an “underweight” rating and set a $13.70 target price on shares of Navitas Semiconductor in a research report on Wednesday, May 6th. Rosenblatt Securities boosted their price target 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. Finally, Needham & Company LLC upped their price target 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. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $14.74.

Navitas Semiconductor Price Performance

The business’s fifty day moving average price is $21.67 and its 200-day moving average price is $13.63. The stock has a market capitalization of $3.56 billion, a PE ratio of -24.17 and a beta of 3.82.

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. The business had revenue of $8.60 million for the quarter, compared to analysts’ expectations of $8.22 million. Navitas Semiconductor had a negative net margin of 330.67% and a negative return on equity of 14.30%. The business’s revenue for the quarter was down 38.7% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.06) EPS. On average, analysts expect that Navitas Semiconductor Corporation will post -0.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Ranbir Singh sold 3,060,118 shares of the business’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $29.29, for a total transaction of $89,630,856.22. Following the completion of the transaction, the director directly owned 15,607,533 shares in the company, valued at $457,144,641.57. The trade was a 16.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gary Kent Wunderlich, Jr. sold 73,000 shares of the firm’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $28.11, for a total value of $2,052,030.00. Following the completion of the sale, the director directly owned 13,964 shares in the company, valued at approximately $392,528.04. The trade was a 83.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 3,989,478 shares of company stock valued at $116,356,387 in the last ninety days. Corporate insiders own 12.40% of the company’s stock.

Hedge Funds Weigh In On Navitas Semiconductor

A number of hedge funds and other institutional investors have recently bought and sold shares of NVTS. Allworth Financial LP increased its position in shares of Navitas Semiconductor by 309.4% in the third quarter. Allworth Financial LP now owns 3,570 shares of the company’s stock valued at $26,000 after acquiring an additional 2,698 shares during the period. NewEdge Advisors LLC boosted its holdings in shares of Navitas Semiconductor by 189.8% during the second quarter. NewEdge Advisors LLC now owns 4,492 shares of the company’s stock worth $29,000 after purchasing an additional 2,942 shares during the period. GAMMA Investing LLC grew its stake in shares of Navitas Semiconductor by 116.5% in the fourth quarter. GAMMA Investing LLC now owns 4,736 shares of the company’s stock worth $34,000 after purchasing an additional 2,548 shares during the last quarter. Geneos Wealth Management Inc. grew its stake in shares of Navitas Semiconductor by 3,200.0% in the first 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 during the last quarter. Finally, State of Wyoming increased its holdings in Navitas Semiconductor by 92.8% during the 1st quarter. State of Wyoming now owns 4,803 shares of the company’s stock valued at $42,000 after purchasing an additional 2,312 shares during the period. Hedge funds and other 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.