Navitas Semiconductor (NASDAQ:NVTS) Shares Up 6.3% – Should You Buy?

Navitas Semiconductor Corporation (NASDAQ:NVTS)’s share price was up 6.3% during trading on Monday . The stock traded as high as $12.25 and last traded at $12.1510. 2,344,371 shares changed hands during trading, a decline of 90% from the average session volume of 23,882,727 shares. The stock had previously closed at $11.43.

Analyst Ratings Changes

NVTS has been the subject of a number of research reports. Jefferies Financial Group set a $13.00 price objective on shares of Navitas Semiconductor in a research note on Tuesday, July 28th. Needham & Company LLC reissued a “buy” rating and set a $21.00 target price on shares of Navitas Semiconductor in a research report on Tuesday, July 28th. Morgan Stanley restated an “underweight” rating and issued a $12.60 price target on shares of Navitas Semiconductor in a report on Tuesday, July 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Navitas Semiconductor in a research report on Monday, September 14th. Finally, Rosenblatt Securities reiterated a “neutral” rating and set a $13.00 price objective on shares of Navitas Semiconductor in a research note on Tuesday, July 28th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $15.92.

Navitas Semiconductor Trading Up 2.5%

The stock has a market capitalization of $3.25 billion, a P/E ratio of -9.37 and a beta of 3.88. The company has a 50-day moving average price of $12.06 and a 200 day moving average price of $15.00.

Navitas Semiconductor (NASDAQ:NVTS) last issued its quarterly earnings data on Monday, July 27th. The company reported ($0.04) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.04). Navitas Semiconductor had a negative return on equity of 13.13% and a negative net margin of 856.85%.The company had revenue of $10.53 million for the quarter, compared to the consensus estimate of $9.97 million. During the same quarter last year, the company earned ($0.25) earnings per share. The firm’s revenue for the quarter was down 27.3% compared to the same quarter last year. As a group, research analysts expect that Navitas Semiconductor Corporation will post -0.31 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of NVTS. Tidal Investments LLC grew its holdings in Navitas Semiconductor by 161.2% in the second quarter. Tidal Investments LLC now owns 1,132,184 shares of the company’s stock worth $20,289,000 after purchasing an additional 698,683 shares during the last quarter. Engineers Gate Manager LP increased its position in shares of Navitas Semiconductor by 180.5% during the second quarter. Engineers Gate Manager LP now owns 117,293 shares of the company’s stock worth $2,102,000 after purchasing an additional 75,478 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new stake in shares of Navitas Semiconductor during the 2nd quarter valued at $121,000. Arizona State Retirement System lifted its holdings in shares of Navitas Semiconductor by 22.4% during the 2nd quarter. Arizona State Retirement System now owns 57,314 shares of the company’s stock valued at $1,027,000 after purchasing an additional 10,486 shares during the last quarter. Finally, Nykredit A S purchased a new stake in shares of Navitas Semiconductor during the 2nd quarter valued at $130,000. Institutional investors own 46.14% of the company’s stock.

About Navitas Semiconductor

Navitas Semiconductor Corporation (NASDAQ: NVTS) develops gallium nitride (GaN) and silicon carbide (SiC) power semiconductor technologies. Its products are designed to improve the efficiency, power density and size of power-conversion systems used in electronic devices and infrastructure.

The company offers GaN power integrated circuits, including its GaNFast product family, as well as SiC devices and related technologies marketed under the GeneSiC brand. Its products are used in applications such as mobile and consumer chargers, data centers, solar and energy-storage systems, electric vehicles, appliances, industrial equipment and other high-power systems.

Founded in 2014, Navitas is headquartered in Torrance, California, and serves customers and markets internationally.