Navitas Semiconductor (NASDAQ:NVTS) Trading 4.1% Higher – Still a Buy?

Navitas Semiconductor Corporation (NASDAQ:NVTS)’s stock price shot up 4.1% during trading on Tuesday . The company traded as high as $25.52 and last traded at $25.8760. 24,880,539 shares were traded during mid-day trading, a decline of 30% from the average session volume of 35,491,256 shares. The stock had previously closed at $24.86.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on NVTS. Needham & Company LLC upped their target price on shares of Navitas Semiconductor from $13.00 to $21.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Wall Street Zen raised shares of Navitas Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Navitas Semiconductor in a report on Tuesday, April 21st. Rosenblatt Securities upped their target price on shares of Navitas Semiconductor from $7.00 to $13.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Finally, Robert W. Baird increased their price target on shares of Navitas Semiconductor from $9.00 to $20.00 and gave the stock an “outperform” rating in a report on Monday, May 4th. Two investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Navitas Semiconductor has an average rating of “Hold” and an average price target of $12.87.

Navitas Semiconductor Stock Up 4.0%

The stock has a market capitalization of $6.04 billion, a PE ratio of -41.05 and a beta of 3.75. The firm’s fifty day moving average is $16.12 and its 200-day moving average is $11.38.

Navitas Semiconductor (NASDAQ:NVTS) last posted its quarterly 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 firm had revenue of $8.60 million during 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 firm’s revenue for the quarter was down 38.7% on a year-over-year basis. During the same period in the prior year, the company posted ($0.06) earnings per share. On average, analysts expect that Navitas Semiconductor Corporation will post -0.39 EPS for the current year.

Insider Activity

In related news, CEO Chris Allexandre sold 13,323 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $31.81, for a total transaction of $423,804.63. Following the completion of the transaction, the chief executive officer directly owned 1,072,633 shares of the company’s stock, valued at $34,120,455.73. This represents a 1.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Ranbir Singh sold 3,060,118 shares of the company’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 transaction, the director 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 4,087,630 shares of company stock valued at $117,414,466 over the last ninety days. 12.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position 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 grew its position 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. grew its position 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 grew its position 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 grew its position 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. 46.14% of the stock is currently owned by institutional investors and hedge funds.

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.