Navitas Semiconductor (NASDAQ:NVTS) Shares Gap Up – Still a Buy?

Shares of Navitas Semiconductor Corporation (NASDAQ:NVTS) gapped up before the market opened on Tuesday . The stock had previously closed at $10.43, but opened at $10.83. Navitas Semiconductor shares last traded at $9.8050, with a volume of 9,388,030 shares traded.

Analyst Upgrades and Downgrades

A number of research firms recently commented on NVTS. Weiss Ratings reiterated a “sell (d-)” rating on shares of Navitas Semiconductor in a research note on Wednesday, October 8th. Jefferies Financial Group raised Navitas Semiconductor to a “hold” rating in a research note on Tuesday, October 28th. Needham & Company LLC boosted their price objective on Navitas Semiconductor from $8.00 to $13.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and set a $8.00 target price on shares of Navitas Semiconductor in a research note on Monday, November 10th. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $6.48.

Navitas Semiconductor Stock Down 0.4%

The company has a market capitalization of $2.31 billion, a price-to-earnings ratio of -15.63 and a beta of 3.16. The business has a 50-day moving average price of $8.49 and a 200-day moving average price of $8.22.

Navitas Semiconductor (NASDAQ:NVTS) last issued its quarterly earnings results on Monday, November 3rd. The company reported ($0.05) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.05). Navitas Semiconductor had a negative return on equity of 14.86% and a negative net margin of 220.85%.The firm had revenue of $10.11 million for the quarter, compared to analysts’ expectations of $10.00 million. During the same quarter last year, the business posted ($0.10) EPS. Navitas Semiconductor’s revenue was down 53.4% on a year-over-year basis. As a group, sell-side analysts predict that Navitas Semiconductor Corporation will post -0.51 EPS for the current year.

Insider Activity at Navitas Semiconductor

In other news, Director Brian Long sold 48,165 shares of the stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $8.50, for a total value of $409,402.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gary Kent Wunderlich, Jr. sold 49,651 shares of Navitas Semiconductor stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $9.31, for a total value of $462,250.81. Following the transaction, the director owned 86,964 shares in the company, valued at $809,634.84. This represents a 36.34% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 3,426,898 shares of company stock worth $29,360,063. Insiders own 29.90% of the company’s stock.

Institutional Trading of Navitas Semiconductor

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Navitas Semiconductor by 23.6% during the third quarter. Vanguard Group Inc. now owns 13,360,648 shares of the company’s stock worth $96,464,000 after purchasing an additional 2,550,613 shares during the period. Geode Capital Management LLC lifted its position in Navitas Semiconductor by 3.9% in the 2nd quarter. Geode Capital Management LLC now owns 3,340,193 shares of the company’s stock worth $21,882,000 after buying an additional 124,594 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Navitas Semiconductor by 75.2% during the 2nd quarter. Invesco Ltd. now owns 3,206,008 shares of the company’s stock valued at $20,999,000 after buying an additional 1,376,205 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of Navitas Semiconductor by 90.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,048,943 shares of the company’s stock valued at $22,013,000 after buying an additional 1,444,405 shares during the period. Finally, Jump Financial LLC purchased a new position in shares of Navitas Semiconductor during the 3rd quarter valued at $11,243,000. 46.14% of the stock is owned by hedge funds and other 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.