Navitas Semiconductor (NASDAQ:NVTS) Shares Gap Up – What’s Next?

Navitas Semiconductor Co. (NASDAQ:NVTS)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $5.52, but opened at $5.82. Navitas Semiconductor shares last traded at $5.89, with a volume of 19,729,269 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages have commented on NVTS. Rosenblatt Securities lifted their price target on Navitas Semiconductor from $4.00 to $6.00 and gave the stock a “buy” rating in a research report on Thursday, May 22nd. Robert W. Baird lowered their price objective on Navitas Semiconductor from $5.00 to $4.00 and set an “outperform” rating for the company in a research report on Wednesday, March 5th. Morgan Stanley cut shares of Navitas Semiconductor from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $2.10 to $1.50 in a report on Monday, April 7th. Finally, Needham & Company LLC reduced their target price on Navitas Semiconductor from $4.00 to $3.00 and set a “buy” rating for the company in a research note on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $3.79.

Navitas Semiconductor Trading Up 17.2%

The business’s 50 day moving average price is $2.45 and its two-hundred day moving average price is $2.83. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of -15.40 and a beta of 2.24.

Navitas Semiconductor (NASDAQ:NVTS) last issued its quarterly earnings results on Monday, May 5th. The company reported ($0.06) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.06). The firm had revenue of $14.02 million for the quarter, compared to analyst estimates of $14.01 million. Navitas Semiconductor had a negative return on equity of 23.64% and a negative net margin of 84.61%. The company’s revenue was down 39.7% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.06) earnings per share. Analysts expect that Navitas Semiconductor Co. will post -0.51 EPS for the current year.

Insider Buying and Selling at Navitas Semiconductor

In related news, CEO Eugene Sheridan sold 2,155,783 shares of the stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $4.49, for a total value of $9,679,465.67. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Todd Glickman sold 532,342 shares of the business’s stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $4.49, for a total transaction of $2,390,215.58. Following the sale, the chief financial officer now owns 234,501 shares of the company’s stock, valued at $1,052,909.49. This trade represents a 69.42% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,478,587 shares of company stock valued at $22,447,680. Corporate insiders own 31.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Goodman Financial Corp acquired a new stake in shares of Navitas Semiconductor in the 4th quarter worth about $36,000. Caption Management LLC bought a new stake in Navitas Semiconductor during the 4th quarter worth approximately $36,000. Tower Research Capital LLC TRC raised its stake in shares of Navitas Semiconductor by 125.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,294 shares of the company’s stock worth $37,000 after purchasing an additional 5,726 shares during the last quarter. Steel Grove Capital Advisors LLC bought a new position in shares of Navitas Semiconductor in the fourth quarter valued at approximately $39,000. Finally, Cibc World Markets Corp purchased a new position in shares of Navitas Semiconductor during the fourth quarter valued at approximately $42,000. 46.14% of the stock is owned by institutional investors.

Navitas Semiconductor Company Profile

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.