Navitas Semiconductor (NASDAQ:NVTS) Sees Unusually-High Trading Volume – Time to Buy?

Navitas Semiconductor Co. (NASDAQ:NVTS) shares saw unusually-strong trading volume on Monday . Approximately 4,726,098 shares changed hands during trading, an increase of 45% from the previous session’s volume of 3,249,466 shares.The stock last traded at $3.71 and had previously closed at $3.17.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Navitas Semiconductor from $6.00 to $4.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Craig Hallum decreased their price target on Navitas Semiconductor from $6.50 to $4.25 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Robert W. Baird decreased their target price on Navitas Semiconductor from $7.00 to $5.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $7.50 price target on shares of Navitas Semiconductor in a research report on Thursday, October 31st. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Navitas Semiconductor presently has an average rating of “Moderate Buy” and an average price target of $4.75.

Navitas Semiconductor Trading Up 3.1 %

The company has a market capitalization of $743.46 million, a P/E ratio of -9.48 and a beta of 2.37. The business has a 50 day moving average price of $2.73 and a 200 day moving average price of $3.13.

Navitas Semiconductor (NASDAQ:NVTS) last released its quarterly earnings data on Monday, November 4th. The company reported ($0.06) EPS for the quarter, meeting analysts’ consensus estimates of ($0.06). The business had revenue of $21.68 million during the quarter, compared to analysts’ expectations of $21.93 million. Navitas Semiconductor had a negative net margin of 84.61% and a negative return on equity of 23.64%. During the same quarter in the prior year, the company earned ($0.10) EPS. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. On average, analysts forecast that Navitas Semiconductor Co. will post -0.51 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Richard J. Hendrix sold 40,000 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $4.54, for a total transaction of $181,600.00. Following the completion of the transaction, the director now owns 316,709 shares in the company, valued at approximately $1,437,858.86. This represents a 11.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 31.80% of the company’s stock.

Hedge Funds Weigh In On Navitas Semiconductor

Several hedge funds have recently modified their holdings of the stock. M&T Bank Corp lifted its stake in Navitas Semiconductor by 29.6% in the third quarter. M&T Bank Corp now owns 159,804 shares of the company’s stock valued at $392,000 after acquiring an additional 36,504 shares during the last quarter. State Street Corp grew its position in shares of Navitas Semiconductor by 4.0% in the third quarter. State Street Corp now owns 5,826,638 shares of the company’s stock valued at $14,275,000 after purchasing an additional 221,575 shares during the last quarter. Quadrature Capital Ltd bought a new position in shares of Navitas Semiconductor during the third quarter worth approximately $172,000. Point72 Asset Management L.P. boosted its stake in Navitas Semiconductor by 87.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 8,031,474 shares of the company’s stock valued at $19,677,000 after purchasing an additional 3,748,124 shares during the period. Finally, Centiva Capital LP bought a new position in Navitas Semiconductor during the 3rd quarter worth $195,000. Institutional investors own 46.14% of the company’s stock.

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.