Navitas Semiconductor (NASDAQ:NVTS) Trading Up 11% – Here’s Why

Navitas Semiconductor Corporation (NASDAQ:NVTS) shares shot up 11% during trading on Monday . The company traded as high as $15.76 and last traded at $16.0450. 4,371,787 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 28,304,529 shares. The stock had previously closed at $14.46.

Analysts Set New Price Targets

NVTS has been the topic of a number of analyst reports. Wall Street Zen raised Navitas Semiconductor from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Robert W. Baird upped their price target on shares of Navitas Semiconductor from $9.00 to $20.00 and gave the stock an “outperform” rating in a research note on Monday, May 4th. Rosenblatt Securities increased their price objective 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. Needham & Company LLC lifted their target price 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. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $13.70 target price on shares of Navitas Semiconductor in a research note on Wednesday, May 6th. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $14.74.

Navitas Semiconductor Stock Performance

The company’s 50-day moving average price is $21.67 and its 200 day moving average price is $13.63. The stock has a market cap of $3.65 billion, a PE ratio of -24.87 and a beta of 3.82.

Navitas Semiconductor (NASDAQ:NVTS) last announced its earnings results on Tuesday, May 5th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $8.60 million during the quarter, compared to analyst estimates of $8.22 million. During the same period in the previous year, the business posted ($0.06) earnings per share. The firm’s quarterly revenue was down 38.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Navitas Semiconductor Corporation will post -0.39 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Navitas Semiconductor news, Director Gary Kent Wunderlich, Jr. sold 35,165 shares of the business’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $28.14, for a total transaction of $989,543.10. Following the completion of the sale, the director owned 2,375,060 shares of the company’s stock, valued at approximately $66,834,188.40. The trade was a 1.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ranbir Singh sold 664,058 shares of the company’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $28.72, for a total value of $19,071,745.76. Following the completion of the sale, the director owned 14,943,475 shares of the company’s stock, valued at approximately $429,176,602. The trade was a 4.25% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 3,989,478 shares of company stock valued at $116,356,387. Company insiders own 12.40% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. American Century Companies Inc. increased its holdings in Navitas Semiconductor by 104.8% in the 2nd quarter. American Century Companies Inc. now owns 241,450 shares of the company’s stock worth $1,581,000 after acquiring an additional 123,577 shares in the last quarter. Prudential Financial Inc. purchased a new position in Navitas Semiconductor during the second quarter valued at approximately $120,000. New York State Common Retirement Fund lifted its holdings in Navitas Semiconductor by 102.7% during the second quarter. New York State Common Retirement Fund now owns 40,255 shares of the company’s stock valued at $264,000 after purchasing an additional 20,400 shares in the last quarter. Invesco Ltd. boosted its position in shares of Navitas Semiconductor by 75.2% in the second quarter. Invesco Ltd. now owns 3,206,008 shares of the company’s stock worth $20,999,000 after purchasing an additional 1,376,205 shares during the period. Finally, Baird Financial Group Inc. boosted its position in shares of Navitas Semiconductor by 2,514.3% in the second quarter. Baird Financial Group Inc. now owns 419,237 shares of the company’s stock worth $2,746,000 after purchasing an additional 403,201 shares during the period. 46.14% of the stock is owned by hedge funds and other institutional investors.

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.