Navitas Semiconductor (NASDAQ:NVTS) Trading 2.5% Higher – Time to Buy?

Navitas Semiconductor Corporation (NASDAQ:NVTS)’s stock price rose 2.5% during mid-day trading on Monday . The stock traded as high as $18.15 and last traded at $17.74. 17,456,229 shares traded hands during mid-day trading, a decline of 39% from the average daily volume of 28,693,535 shares. The stock had previously closed at $17.30.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on NVTS shares. Robert W. Baird boosted their price objective on Navitas Semiconductor from $9.00 to $20.00 and gave the company an “outperform” rating in a report on Monday, May 4th. Needham & Company LLC increased their target price on Navitas Semiconductor from $13.00 to $21.00 and gave the stock 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 research report on Saturday, May 9th. Morgan Stanley restated an “underweight” rating and set a $13.70 price target on shares of Navitas Semiconductor in a research note on Wednesday, May 6th. Finally, Rosenblatt Securities upped their price objective on shares of Navitas Semiconductor from $7.00 to $13.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $14.74.

Navitas Semiconductor Stock Performance

The firm has a market cap of $4.15 billion, a price-to-earnings ratio of -28.16 and a beta of 3.75. The business has a 50 day simple moving average of $21.48 and a 200-day simple moving average of $13.37.

Navitas Semiconductor (NASDAQ:NVTS) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.04) EPS for the quarter, topping 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%.The company’s revenue for the quarter was down 38.7% on a year-over-year basis. During the same period in the previous year, the company posted ($0.06) EPS. As a group, research analysts anticipate that Navitas Semiconductor Corporation will post -0.39 earnings per share for the current year.

Insider Buying and Selling

In other Navitas Semiconductor news, Director Gary Kent Wunderlich, Jr. sold 35,165 shares of Navitas Semiconductor stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $28.14, for a total transaction of $989,543.10. Following the transaction, the director directly owned 2,375,060 shares of the company’s stock, valued at $66,834,188.40. The trade was a 1.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard J. Hendrix sold 110,165 shares of the company’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $28.96, for a total transaction of $3,190,378.40. Following the completion of the sale, the director owned 101,709 shares of the company’s stock, valued at approximately $2,945,492.64. The trade was a 52.00% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 3,989,478 shares of company stock worth $116,356,387. 12.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in NVTS. Allworth Financial LP boosted its holdings in Navitas Semiconductor by 309.4% during the third quarter. Allworth Financial LP now owns 3,570 shares of the company’s stock worth $26,000 after purchasing an additional 2,698 shares during the last quarter. NewEdge Advisors LLC grew its position in Navitas Semiconductor by 189.8% in the 2nd quarter. NewEdge Advisors LLC now owns 4,492 shares of the company’s stock worth $29,000 after purchasing an additional 2,942 shares in the last quarter. GAMMA Investing LLC increased its stake in Navitas Semiconductor by 116.5% in the 4th quarter. GAMMA Investing LLC now owns 4,736 shares of the company’s stock valued at $34,000 after buying an additional 2,548 shares during the last quarter. Geneos Wealth Management Inc. increased its stake in Navitas Semiconductor by 3,200.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 4,125 shares of the company’s stock valued at $36,000 after buying an additional 4,000 shares during the last quarter. Finally, State of Wyoming lifted its position in shares of Navitas Semiconductor by 92.8% during the 1st quarter. State of Wyoming now owns 4,803 shares of the company’s stock worth $42,000 after buying an additional 2,312 shares in the last quarter. 46.14% of the stock is owned by institutional investors.

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.