Navitas Semiconductor (NASDAQ:NVTS) Shares Up 8.7% – Here’s What Happened

Navitas Semiconductor Corporation (NASDAQ:NVTS)’s stock price rose 8.7% during mid-day trading on Tuesday . The stock traded as high as $33.82 and last traded at $31.79. Approximately 49,679,049 shares changed hands during trading, an increase of 77% from the average daily volume of 28,088,633 shares. The stock had previously closed at $29.25.

Analyst Upgrades and Downgrades

NVTS has been the subject of several analyst reports. Wall Street Zen raised Navitas Semiconductor from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Rosenblatt Securities raised their target price on Navitas Semiconductor from $7.00 to $13.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Morgan Stanley reaffirmed an “underweight” rating and set a $13.70 target price on shares of Navitas Semiconductor in a research report on Wednesday, May 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Navitas Semiconductor in a research report on Tuesday, April 21st. Finally, Needham & Company LLC raised their target price on Navitas Semiconductor from $13.00 to $21.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $12.87.

Navitas Semiconductor Stock Performance

The stock has a fifty day simple moving average of $14.28 and a two-hundred day simple moving average of $10.71. The stock has a market capitalization of $7.43 billion, a price-to-earnings ratio of -50.46 and a beta of 3.62.

Navitas Semiconductor (NASDAQ:NVTS) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. Navitas Semiconductor had a negative return on equity of 14.30% and a negative net margin of 330.67%.The firm had revenue of $8.60 million during the quarter, compared to the consensus estimate of $8.22 million. During the same period last year, the business posted ($0.06) EPS. The business’s revenue was down 38.7% compared to the same quarter last year. Research analysts forecast that Navitas Semiconductor Corporation will post -0.39 earnings per share for the current year.

Insiders Place Their Bets

In other Navitas Semiconductor news, 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 transaction of $82,477.48. Following the completion of the sale, the chief executive officer directly owned 813,323 shares in the company, valued at approximately $7,262,974.39. This trade represents a 1.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ranbir Singh sold 389,096 shares of the stock in a transaction dated 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. In the last ninety days, insiders sold 509,016 shares of company stock worth $4,967,814. Company insiders own 12.40% of the company’s stock.

Institutional Trading of Navitas Semiconductor

A number of large investors have recently bought and sold shares of the business. Allworth Financial LP grew its stake in shares of Navitas Semiconductor by 309.4% in the 3rd quarter. Allworth Financial LP now owns 3,570 shares of the company’s stock valued at $26,000 after buying an additional 2,698 shares during the period. Geneos Wealth Management Inc. grew its stake 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 valued at $36,000 after buying an additional 4,000 shares during the period. NewEdge Advisors LLC grew its stake 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 valued at $29,000 after buying an additional 2,942 shares during the period. GAMMA Investing LLC grew its stake 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 valued at $34,000 after buying an additional 2,548 shares during the period. Finally, State of Wyoming grew its stake 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 valued at $42,000 after buying an additional 2,312 shares during the period. 46.14% of the stock is currently owned by institutional investors and hedge funds.

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.