Navitas Semiconductor (NASDAQ:NVTS) Trading 8.4% Higher – What’s Next?

Navitas Semiconductor Corporation (NASDAQ:NVTS) rose 8.4% on Friday . The stock traded as high as $17.99 and last traded at $17.88. Approximately 17,425,510 shares changed hands during trading, a decline of 32% from the average daily volume of 25,732,461 shares. The stock had previously closed at $16.50.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Rosenblatt Securities restated a “neutral” rating and set a $7.00 target price on shares of Navitas Semiconductor in a research note on Thursday, March 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Navitas Semiconductor in a research report on Tuesday, April 21st. 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, Navitas Semiconductor has an average rating of “Hold” and an average price target of $6.78.

Navitas Semiconductor Stock Performance

The firm’s fifty day simple moving average is $10.59 and its 200-day simple moving average is $9.94. The stock has a market cap of $4.03 billion, a P/E ratio of -30.61 and a beta of 3.15.

Navitas Semiconductor (NASDAQ:NVTS) last released its quarterly earnings results on Tuesday, February 24th. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.05). Navitas Semiconductor had a negative net margin of 254.71% and a negative return on equity of 14.52%. The firm had revenue of $7.30 million during the quarter, compared to analyst estimates of $6.95 million. During the same quarter last year, the business earned ($0.06) EPS. The company’s revenue was down 59.4% compared to the same quarter last year. Analysts predict that Navitas Semiconductor Corporation will post -0.26 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Trading of Navitas Semiconductor

Large investors have recently modified their holdings of the stock. Allworth Financial LP grew its position in shares of 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 buying an additional 2,698 shares during the period. NewEdge Advisors LLC grew its position in shares of 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 buying an additional 2,942 shares during the period. CWM LLC grew its position in shares of 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 buying an additional 893 shares during the period. GAMMA Investing LLC grew its position in shares of 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 buying an additional 2,548 shares during the period. Finally, Parkside Financial Bank & Trust grew its position in shares of Navitas Semiconductor by 1,376.3% during the 3rd quarter. Parkside Financial Bank & Trust now owns 5,285 shares of the company’s stock worth $38,000 after buying an additional 4,927 shares during the period. Institutional investors and hedge funds own 46.14% of the company’s stock.

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.