Navitas Semiconductor (NASDAQ:NVTS) Trading Up 5.3% – Still a Buy?

Navitas Semiconductor Corporation (NASDAQ:NVTS) shares rose 5.3% on Friday . The stock traded as high as $24.59 and last traded at $23.39. Approximately 28,666,000 shares changed hands during trading, a decline of 1% from the average daily volume of 29,075,619 shares. The stock had previously closed at $22.21.

Analyst Ratings Changes

NVTS has been the topic of several analyst reports. Morgan Stanley reiterated an “underweight” rating and issued a $13.70 price objective on shares of Navitas Semiconductor in a research note on Wednesday, May 6th. Wall Street Zen upgraded Navitas Semiconductor from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Rosenblatt Securities upped their target price on shares of Navitas Semiconductor from $7.00 to $13.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Robert W. Baird raised their target price on shares of Navitas Semiconductor from $9.00 to $20.00 and gave the company an “outperform” rating in a report on Monday, May 4th. Finally, Needham & Company LLC boosted their price target on shares of Navitas Semiconductor from $13.00 to $21.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $12.87.

Navitas Semiconductor Stock Performance

The firm has a market capitalization of $5.47 billion, a price-to-earnings ratio of -37.13 and a beta of 3.75. The company has a 50-day moving average price of $18.76 and a 200-day moving average price of $12.37.

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

Insiders Place Their Bets

In related news, CFO Todd Glickman sold 98,152 shares of the 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 transaction, the chief financial officer directly owned 735,231 shares of the company’s stock, valued at $7,925,790.18. This trade represents a 11.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ranbir Singh sold 3,060,118 shares of the business’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $29.29, for a total transaction of $89,630,856.22. Following the completion of the sale, the director directly owned 15,607,533 shares of the company’s stock, valued at approximately $457,144,641.57. This trade represents a 16.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 4,087,630 shares of company stock worth $117,414,466. 12.40% of the stock is currently owned by company insiders.

Institutional Trading of Navitas Semiconductor

Several institutional investors and hedge funds have recently bought and sold shares of NVTS. Invesco Ltd. increased its stake in Navitas Semiconductor by 257.8% in the fourth quarter. Invesco Ltd. now owns 4,737,624 shares of the company’s stock valued at $33,827,000 after purchasing an additional 3,413,394 shares during the period. Marex Group plc boosted 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 buying an additional 2,663,119 shares during the period. Vanguard Group Inc. grew its holdings 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 buying an additional 2,550,613 shares during the last quarter. Ghisallo Capital Management LLC acquired a new position in Navitas Semiconductor in the 4th quarter valued at about $15,867,000. Finally, UBS Group AG raised its stake in Navitas Semiconductor by 131.0% during the 4th quarter. UBS Group AG now owns 3,307,036 shares of the company’s stock valued at $23,612,000 after acquiring an additional 1,875,228 shares during the last quarter. Hedge funds and other 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.