Navitas Semiconductor (NASDAQ:NVTS) Stock Price Up 10.4% – Time to Buy?

Shares of Navitas Semiconductor Corporation (NASDAQ:NVTS) were up 10.4% on Tuesday. The stock traded as high as $9.23 and last traded at $9.2730. 6,377,119 shares traded hands during trading, a decline of 72% from the average daily volume of 22,880,588 shares. The stock had previously closed at $8.40.

Wall Street Analyst Weigh In

Several brokerages have commented on NVTS. Rosenblatt Securities reissued a “neutral” rating and issued a $13.00 price target on shares of Navitas Semiconductor in a research report on Tuesday, September 29th. Morgan Stanley reaffirmed an “underweight” rating and issued a $12.60 target price on shares of Navitas Semiconductor in a report on Tuesday, July 28th. Jefferies Financial Group set a $13.00 price objective on shares of Navitas Semiconductor in a research report on Tuesday, July 28th. Needham & Company LLC reiterated a “buy” rating and issued a $21.00 price objective on shares of Navitas Semiconductor in a report on Tuesday, July 28th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Navitas Semiconductor in a report on Monday, September 14th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $15.92.

Navitas Semiconductor Stock Up 9.7%

The business’s fifty day moving average is $11.24 and its two-hundred day moving average is $13.27. The firm has a market cap of $2.41 billion, a price-to-earnings ratio of -6.93 and a beta of 3.96.

Navitas Semiconductor (NASDAQ:NVTS) last issued its quarterly earnings results on Monday, July 27th. The company reported ($0.04) earnings per share for the quarter, hitting the consensus estimate of ($0.04). The company had revenue of $10.53 million during the quarter, compared to analysts’ expectations of $9.97 million. Navitas Semiconductor had a negative net margin of 856.85% and a negative return on equity of 13.13%. The business’s quarterly revenue was down 27.3% on a year-over-year basis. During the same period last year, the business earned ($0.25) EPS. Research analysts forecast that Navitas Semiconductor Corporation will post -0.31 EPS for the current year.

Institutional Trading of Navitas Semiconductor

Several hedge funds have recently modified their holdings of the stock. Rakuten Securities Inc. acquired a new stake in shares of Navitas Semiconductor in the 2nd quarter worth about $27,000. Root Financial Partners LLC bought a new stake in Navitas Semiconductor in the 3rd quarter valued at about $27,000. Beaird Harris Wealth Management LLC grew its stake in Navitas Semiconductor by 247.8% in the 2nd quarter. Beaird Harris Wealth Management LLC now owns 1,739 shares of the company’s stock valued at $31,000 after buying an additional 1,239 shares in the last quarter. Geneos Wealth Management Inc. boosted 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 worth $36,000 after purchasing an additional 4,000 shares during the period. Finally, State of Wyoming grew its position in Navitas Semiconductor by 92.8% during the first 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. Institutional investors own 46.14% of the company’s stock.

Navitas Semiconductor Company Profile

Navitas Semiconductor Corporation (NASDAQ:NVTS) develops power semiconductor technologies designed to improve the efficiency, performance and size of electronic systems. The company specializes in gallium nitride (GaN) power integrated circuits and silicon carbide (SiC) devices, which are used to convert and manage electrical power.

Its product portfolio includes GaNFast power ICs, GeneSiC silicon carbide products and related power-management solutions. These technologies are used in applications such as mobile and consumer chargers, data centers, solar inverters, electric vehicles, energy storage systems, appliances and industrial equipment.

Founded in 2014, Navitas serves customers and markets globally through its semiconductor products and engineering support.