Navitas Semiconductor (NASDAQ:NVTS) Shares Gap Up – Time to Buy?

Navitas Semiconductor Corporation (NASDAQ:NVTS)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $19.25, but opened at $20.81. Navitas Semiconductor shares last traded at $19.9820, with a volume of 9,620,367 shares trading hands.

Analysts Set New Price Targets

Several analysts have commented on NVTS shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Navitas Semiconductor in a research report on Tuesday, April 21st. Rosenblatt Securities upped their target price on shares of Navitas Semiconductor from $7.00 to $13.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Morgan Stanley reiterated an “underweight” rating and set a $13.70 target price on shares of Navitas Semiconductor in a research report on Wednesday, May 6th. Needham & Company LLC upped their target price on shares of Navitas Semiconductor from $13.00 to $21.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Finally, Robert W. Baird upped their target price on shares of Navitas Semiconductor from $9.00 to $20.00 and gave the company an “outperform” rating in a research report on Monday, May 4th. Two research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Navitas Semiconductor presently has a consensus rating of “Hold” and a consensus target price of $12.87.

Navitas Semiconductor Stock Performance

The stock’s 50-day moving average is $11.74 and its 200 day moving average is $10.06. The firm has a market cap of $4.96 billion, a P/E ratio of -34.21 and a beta of 3.62.

Navitas Semiconductor (NASDAQ:NVTS) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $8.60 million during the quarter, compared to analysts’ expectations of $8.22 million. During the same quarter in the prior year, the company earned ($0.06) EPS. The firm’s quarterly revenue was down 38.7% on a year-over-year basis. On average, research analysts anticipate that Navitas Semiconductor Corporation will post -0.26 EPS for the current year.

Insider Activity at Navitas Semiconductor

In related news, CFO Todd Glickman sold 98,152 shares of the company’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $10.78, for a total value of $1,058,078.56. Following the completion of the sale, the chief financial officer owned 735,231 shares in the company, valued at $7,925,790.18. This represents a 11.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Chris Allexandre sold 9,236 shares of the stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $8.93, for a total value of $82,477.48. Following the transaction, the chief executive officer owned 813,323 shares of the company’s stock, valued at approximately $7,262,974.39. This trade represents a 1.12% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 509,016 shares of company stock worth $4,967,814 in the last quarter. Corporate insiders own 29.90% of the company’s stock.

Hedge Funds Weigh In On Navitas Semiconductor

Large investors have recently added to or reduced their stakes in the company. Allworth Financial LP increased its holdings in Navitas Semiconductor by 309.4% during the 3rd quarter. Allworth Financial LP now owns 3,570 shares of the company’s stock worth $26,000 after purchasing an additional 2,698 shares in the last quarter. NewEdge Advisors LLC increased its holdings in Navitas Semiconductor by 189.8% during the 2nd quarter. NewEdge Advisors LLC now owns 4,492 shares of the company’s stock worth $29,000 after purchasing an additional 2,942 shares in the last quarter. CWM LLC increased its holdings in Navitas Semiconductor by 24.7% during the 3rd quarter. CWM LLC now owns 4,515 shares of the company’s stock worth $33,000 after purchasing an additional 893 shares in the last quarter. GAMMA Investing LLC increased its holdings in Navitas Semiconductor by 116.5% during the 4th quarter. GAMMA Investing LLC now owns 4,736 shares of the company’s stock worth $34,000 after purchasing an additional 2,548 shares in the last quarter. Finally, Geneos Wealth Management Inc. increased its holdings in Navitas Semiconductor by 3,200.0% during 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 in the last quarter. Institutional investors 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.