Navitas Semiconductor (NASDAQ:NVTS) Stock Price Up 8.1% – Time to Buy?

Navitas Semiconductor Co. (NASDAQ:NVTS)’s stock price shot up 8.1% on Tuesday . The company traded as high as $3.58 and last traded at $3.53. 1,781,978 shares traded hands during trading, a decline of 64% from the average session volume of 4,922,548 shares. The stock had previously closed at $3.26.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on NVTS shares. Rosenblatt Securities restated a “buy” rating and issued a $7.50 price target on shares of Navitas Semiconductor in a research report on Thursday, October 31st. Craig Hallum dropped their target price on shares of Navitas Semiconductor from $6.50 to $4.25 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft lowered their price objective on Navitas Semiconductor from $6.00 to $4.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Finally, Robert W. Baird cut their target price on Navitas Semiconductor from $7.00 to $5.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Navitas Semiconductor presently has an average rating of “Moderate Buy” and an average price target of $4.75.

Navitas Semiconductor Price Performance

The firm has a fifty day simple moving average of $3.18 and a 200-day simple moving average of $3.04. The firm has a market cap of $669.68 million, a P/E ratio of -8.49 and a beta of 2.23.

Navitas Semiconductor (NASDAQ:NVTS) last posted its quarterly earnings results on Monday, November 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.06). Navitas Semiconductor had a negative net margin of 84.61% and a negative return on equity of 23.64%. The business had revenue of $21.68 million during the quarter, compared to the consensus estimate of $21.93 million. During the same quarter last year, the firm posted ($0.10) EPS. Navitas Semiconductor’s revenue was down 1.4% compared to the same quarter last year. On average, equities analysts predict that Navitas Semiconductor Co. will post -0.51 earnings per share for the current year.

Insider Buying and Selling at Navitas Semiconductor

In other Navitas Semiconductor news, Director Richard J. Hendrix sold 40,000 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $4.54, for a total transaction of $181,600.00. Following the transaction, the director now directly owns 316,709 shares in the company, valued at approximately $1,437,858.86. This trade represents a 11.21 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 31.80% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Ensign Peak Advisors Inc grew its position in Navitas Semiconductor by 5.2% in the 2nd quarter. Ensign Peak Advisors Inc now owns 77,245 shares of the company’s stock worth $304,000 after purchasing an additional 3,800 shares in the last quarter. Commonwealth Equity Services LLC increased its position in shares of Navitas Semiconductor by 5.4% during the second quarter. Commonwealth Equity Services LLC now owns 77,940 shares of the company’s stock valued at $306,000 after acquiring an additional 4,000 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in Navitas Semiconductor by 48.9% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 24,826 shares of the company’s stock worth $98,000 after acquiring an additional 8,156 shares during the period. The Manufacturers Life Insurance Company boosted its position in Navitas Semiconductor by 16.2% in the second quarter. The Manufacturers Life Insurance Company now owns 71,998 shares of the company’s stock worth $283,000 after purchasing an additional 10,024 shares during the last quarter. Finally, DRW Securities LLC bought a new position in Navitas Semiconductor in the 2nd quarter valued at $46,000. 46.14% of the stock is owned by institutional investors.

About Navitas Semiconductor

Navitas Semiconductor Corporation designs, develops, and markets gallium nitride power integrated circuits, silicon carbide, associated high-speed silicon system controllers, and digital isolators used in power conversion and charging. The company’s products are used in mobile, consumer, data center, solar, electric vehicle, industrial motor drive, smart grid, and transportation applications.