Navitas Semiconductor (NASDAQ:NVTS) Shares Up 5.6% – What’s Next?

Navitas Semiconductor Corporation (NASDAQ:NVTS) shares rose 5.6% during trading on Wednesday . The company traded as high as $20.78 and last traded at $20.5170. Approximately 4,107,119 shares changed hands during trading, a decline of 85% from the average daily volume of 27,157,129 shares. The stock had previously closed at $19.43.

Wall Street Analysts Forecast Growth

NVTS has been the topic of a number of analyst reports. Needham & Company LLC upped their target price on Navitas Semiconductor from $13.00 to $21.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Morgan Stanley reaffirmed an “underweight” rating and set a $13.70 target price on shares of Navitas Semiconductor in a research note on Wednesday, May 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Navitas Semiconductor in a research note on Tuesday, April 21st. Robert W. Baird upped their target price on Navitas Semiconductor from $9.00 to $20.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. Finally, Wall Street Zen raised Navitas Semiconductor from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. 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 company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $12.87.

Navitas Semiconductor Stock Up 6.0%

The stock has a market cap of $5.70 billion, a P/E ratio of -38.70 and a beta of 3.62. The business has a 50 day moving average price of $13.53 and a 200 day moving average price of $10.46.

Navitas Semiconductor (NASDAQ:NVTS) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. The firm had revenue of $8.60 million during the quarter, compared to analyst estimates of $8.22 million. Navitas Semiconductor had a negative return on equity of 14.30% and a negative net margin of 330.67%.Navitas Semiconductor’s quarterly revenue was down 38.7% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.06) earnings per share. On average, research analysts expect that Navitas Semiconductor Corporation will post -0.39 earnings per share for the current fiscal year.

Insider Activity at Navitas Semiconductor

In related news, Director Ranbir Singh sold 389,096 shares of the business’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $9.52, for a total value of $3,704,193.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Chris Allexandre sold 9,236 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $8.93, for a total value of $82,477.48. Following the completion of the sale, the chief executive officer 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. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 509,016 shares of company stock worth $4,967,814. Company insiders own 12.40% of the company’s stock.

Institutional Trading of Navitas Semiconductor

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Navitas Semiconductor by 10.0% during the fourth quarter. Vanguard Group Inc. now owns 14,691,351 shares of the company’s stock worth $104,896,000 after buying an additional 1,330,703 shares during the period. State Street Corp lifted its holdings in Navitas Semiconductor by 18.0% during the fourth quarter. State Street Corp now owns 8,597,950 shares of the company’s stock worth $61,389,000 after buying an additional 1,308,626 shares during the period. Invesco Ltd. lifted its holdings in Navitas Semiconductor by 257.8% during the fourth quarter. Invesco Ltd. now owns 4,737,624 shares of the company’s stock worth $33,827,000 after buying an additional 3,413,394 shares during the period. Geode Capital Management LLC lifted its holdings in Navitas Semiconductor by 12.8% during the fourth quarter. Geode Capital Management LLC now owns 4,417,408 shares of the company’s stock worth $31,546,000 after buying an additional 501,110 shares during the period. Finally, UBS Group AG lifted its holdings in Navitas Semiconductor by 131.0% during the fourth quarter. UBS Group AG now owns 3,307,036 shares of the company’s stock worth $23,612,000 after buying an additional 1,875,228 shares during the period. Hedge funds and other institutional investors own 46.14% of the company’s stock.

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.