Navitas Semiconductor (NASDAQ:NVTS) Trading Up 9.2% – Time to Buy?

Navitas Semiconductor Corporation (NASDAQ:NVTS) shares rose 9.2% during mid-day trading on Thursday . The stock traded as high as $11.33 and last traded at $11.2040. Approximately 11,779,026 shares changed hands during trading, a decline of 47% from the average daily volume of 22,418,779 shares. The stock had previously closed at $10.26.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Navitas Semiconductor in a report on Thursday, January 22nd. Rosenblatt Securities restated a “neutral” rating and set a $7.00 target price on shares of Navitas Semiconductor in a report on Thursday, March 12th. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $6.78.

Navitas Semiconductor Trading Up 15.8%

The firm has a market capitalization of $2.74 billion, a price-to-earnings ratio of -20.96 and a beta of 3.15. The company has a fifty day moving average price of $8.98 and a two-hundred day moving average price of $9.34.

Navitas Semiconductor (NASDAQ:NVTS) last released its quarterly earnings results on Tuesday, February 24th. The company reported ($0.05) EPS for the quarter, meeting the consensus estimate of ($0.05). The firm had revenue of $7.30 million for the quarter, compared to analyst estimates of $6.95 million. Navitas Semiconductor had a negative net margin of 254.71% and a negative return on equity of 14.52%. The business’s revenue for the quarter was down 59.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.06) EPS. As a group, equities research analysts expect that Navitas Semiconductor Corporation will post -0.51 earnings per share for the current year.

Insider Transactions at Navitas Semiconductor

In other news, CFO Todd Glickman sold 98,152 shares of the company’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $10.78, for a total transaction of $1,058,078.56. Following the sale, the chief financial officer owned 735,231 shares of the company’s stock, valued at approximately $7,925,790.18. This represents a 11.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ranbir Singh sold 389,096 shares of the company’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $9.52, for a total value of $3,704,193.92. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 509,016 shares of company stock valued at $4,967,814. 29.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Navitas Semiconductor

A number of institutional investors and hedge funds have recently modified their holdings of NVTS. Invesco Ltd. grew its stake in shares of Navitas Semiconductor by 257.8% during the fourth quarter. Invesco Ltd. now owns 4,737,624 shares of the company’s stock worth $33,827,000 after purchasing an additional 3,413,394 shares in the last quarter. Marex Group plc grew its stake in shares of Navitas Semiconductor by 22,203.8% during the fourth quarter. Marex Group plc now owns 2,675,113 shares of the company’s stock worth $19,100,000 after purchasing an additional 2,663,119 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Navitas Semiconductor by 23.6% during the third quarter. Vanguard Group Inc. now owns 13,360,648 shares of the company’s stock worth $96,464,000 after purchasing an additional 2,550,613 shares in the last quarter. Ghisallo Capital Management LLC acquired a new position in shares of Navitas Semiconductor during the fourth quarter worth $15,867,000. Finally, UBS Group AG grew its stake in shares of Navitas Semiconductor by 131.0% during the fourth quarter. UBS Group AG now owns 3,307,036 shares of the company’s stock worth $23,612,000 after purchasing an additional 1,875,228 shares in the last quarter. Institutional investors and hedge funds own 46.14% of the company’s stock.

Navitas Semiconductor Company Profile

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.