Navitas Semiconductor (NASDAQ:NVTS) Sees Strong Trading Volume – Here’s Why

Navitas Semiconductor Co. (NASDAQ:NVTS) shares saw unusually-high trading volume on Monday . Approximately 12,135,474 shares were traded during trading, an increase of 12% from the previous session’s volume of 10,861,820 shares.The stock last traded at $7.78 and had previously closed at $7.32.

Analyst Ratings Changes

NVTS has been the subject of several recent analyst reports. Morgan Stanley cut shares of Navitas Semiconductor from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $2.10 to $1.50 in a research report on Monday, April 7th. Needham & Company LLC dropped their target price on shares of Navitas Semiconductor from $4.00 to $3.00 and set a “buy” rating on the stock in a report on Tuesday, May 6th. Robert W. Baird lowered their price objective on Navitas Semiconductor from $5.00 to $4.00 and set an “outperform” rating for the company in a research report on Wednesday, March 5th. Finally, Rosenblatt Securities raised their target price on Navitas Semiconductor from $4.00 to $6.00 and gave the stock a “buy” rating in a research note on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $3.79.

Navitas Semiconductor Price Performance

The company’s fifty day simple moving average is $3.38 and its two-hundred day simple moving average is $3.13. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of -17.46 and a beta of 2.96.

Navitas Semiconductor (NASDAQ:NVTS) last posted its quarterly earnings data on Monday, May 5th. The company reported ($0.06) EPS for the quarter, meeting the consensus estimate of ($0.06). The firm had revenue of $14.02 million during the quarter, compared to analyst estimates of $14.01 million. Navitas Semiconductor had a negative net margin of 84.61% and a negative return on equity of 23.64%. The company’s revenue for the quarter was down 39.7% on a year-over-year basis. During the same quarter last year, the business posted ($0.06) EPS. On average, analysts forecast that Navitas Semiconductor Co. will post -0.51 earnings per share for the current year.

Insider Buying and Selling at Navitas Semiconductor

In other Navitas Semiconductor news, major shareholder Sicpower, Llc sold 8,500 shares of the firm’s stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $6.53, for a total value of $55,505.00. Following the transaction, the insider now directly owns 24,874,661 shares of the company’s stock, valued at approximately $162,431,536.33. This trade represents a 0.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Todd Glickman sold 532,342 shares of Navitas Semiconductor stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $4.49, for a total transaction of $2,390,215.58. Following the transaction, the chief financial officer now directly owns 234,501 shares of the company’s stock, valued at $1,052,909.49. The trade was a 69.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 15,136,189 shares of company stock valued at $99,883,743 in the last 90 days. Corporate insiders own 29.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in Navitas Semiconductor by 1.3% during the first quarter. Vanguard Group Inc. now owns 9,997,486 shares of the company’s stock valued at $20,495,000 after buying an additional 123,598 shares during the period. Geode Capital Management LLC increased its position in shares of Navitas Semiconductor by 3.8% in the fourth quarter. Geode Capital Management LLC now owns 3,081,916 shares of the company’s stock valued at $11,005,000 after buying an additional 113,277 shares in the last quarter. Invesco Ltd. increased its position in shares of Navitas Semiconductor by 22.2% in the first quarter. Invesco Ltd. now owns 1,829,803 shares of the company’s stock valued at $3,751,000 after buying an additional 331,832 shares in the last quarter. Bank of America Corp DE grew its stake in Navitas Semiconductor by 180.5% in the 4th quarter. Bank of America Corp DE now owns 1,234,375 shares of the company’s stock valued at $4,407,000 after acquiring an additional 794,371 shares during the period. Finally, Northern Trust Corp grew its position in shares of Navitas Semiconductor by 9.5% in the fourth quarter. Northern Trust Corp now owns 1,209,761 shares of the company’s stock valued at $4,319,000 after purchasing an additional 104,906 shares during the period. Hedge funds and other institutional investors own 46.14% of the company’s stock.

Navitas Semiconductor Company Profile

Navitas Semiconductor Corporation designs, develops, and markets gallium nitride power integrated circuits, silicon carbide, associated high-speed silicon system controllers, and digital isolators used in power conversion and charging. The company’s products are used in mobile, consumer, data center, solar, electric vehicle, industrial motor drive, smart grid, and transportation applications.