Navitas Semiconductor (NASDAQ:NVTS) Trading Up 20% – Time to Buy?

Navitas Semiconductor Corporation (NASDAQ:NVTS) shares shot up 20% on Friday . The company traded as high as $29.50 and last traded at $29.25. 50,757,037 shares changed hands during trading, an increase of 82% from the average session volume of 27,863,082 shares. The stock had previously closed at $24.38.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on NVTS. Robert W. Baird raised their price target on Navitas Semiconductor from $9.00 to $20.00 and gave the stock an “outperform” rating in a research note on Monday, May 4th. Morgan Stanley restated an “underweight” rating and set a $13.70 price target on shares of Navitas Semiconductor in a report on Wednesday, May 6th. Needham & Company LLC raised their price target 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 upgraded shares of Navitas Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Navitas Semiconductor in a report on Tuesday, April 21st. Two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Navitas Semiconductor has a consensus rating of “Hold” and an average target price of $12.87.

Navitas Semiconductor Trading Up 20.0%

The firm’s fifty day moving average price is $13.90 and its 200-day moving average price is $10.59. The company has a market cap of $6.84 billion, a P/E ratio of -46.43 and a beta of 3.62.

Navitas Semiconductor (NASDAQ:NVTS) last posted its quarterly earnings data 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. Navitas Semiconductor had a negative net margin of 330.67% and a negative return on equity of 14.30%. The company had revenue of $8.60 million for the quarter, compared to the consensus estimate of $8.22 million. During the same quarter in the previous year, the firm posted ($0.06) EPS. The business’s revenue was down 38.7% compared to the same quarter last year. As a group, research analysts forecast that Navitas Semiconductor Corporation will post -0.39 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Ranbir Singh sold 389,096 shares of Navitas Semiconductor stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $9.52, for a total transaction of $3,704,193.92. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Chris Allexandre sold 9,236 shares of Navitas Semiconductor stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $8.93, for a total transaction of $82,477.48. Following the sale, the chief executive officer owned 813,323 shares in the company, valued at approximately $7,262,974.39. This trade represents a 1.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 509,016 shares of company stock worth $4,967,814. Corporate insiders own 12.40% of the company’s stock.

Institutional Trading of Navitas Semiconductor

Several large investors have recently added to or reduced their stakes in NVTS. Allworth Financial LP raised its stake in shares of Navitas Semiconductor by 309.4% in the third quarter. Allworth Financial LP now owns 3,570 shares of the company’s stock valued at $26,000 after acquiring an additional 2,698 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of 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 acquiring an additional 4,000 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in shares of 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 acquiring an additional 2,942 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Navitas Semiconductor by 116.5% in the 4th quarter. GAMMA Investing LLC now owns 4,736 shares of the company’s stock worth $34,000 after acquiring an additional 2,548 shares in the last quarter. Finally, State of Wyoming boosted its holdings in shares of Navitas Semiconductor by 92.8% in the 1st quarter. State of Wyoming now owns 4,803 shares of the company’s stock worth $42,000 after acquiring 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.