Navitas Semiconductor (NASDAQ:NVTS) Reaches New 12-Month High – Still a Buy?

Navitas Semiconductor Corporation (NASDAQ:NVTS) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $23.99 and last traded at $23.5690, with a volume of 11108344 shares trading hands. The stock had previously closed at $22.99.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on NVTS. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Navitas Semiconductor in a report on Tuesday, April 21st. Morgan Stanley reaffirmed an “underweight” rating and issued a $13.70 target price on shares of Navitas Semiconductor in a report on Wednesday, May 6th. Robert W. Baird lifted their target price on shares of Navitas Semiconductor from $9.00 to $20.00 and gave the stock an “outperform” rating in a report on Monday, May 4th. Rosenblatt Securities lifted their target price on shares of Navitas Semiconductor from $7.00 to $13.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Finally, Wall Street Zen raised shares of Navitas Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $12.87.

Navitas Semiconductor Stock Up 7.6%

The firm’s fifty day moving average price is $13.21 and its two-hundred day moving average price is $10.38. The stock has a market capitalization of $5.78 billion, a PE ratio of -39.17 and a beta of 3.62.

Navitas Semiconductor (NASDAQ:NVTS) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.04) earnings per share 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 firm had revenue of $8.60 million during the quarter, compared to analysts’ expectations of $8.22 million. During the same period in the previous year, the company earned ($0.06) earnings per share. The firm’s quarterly revenue was down 38.7% on a year-over-year basis. As a group, analysts predict that Navitas Semiconductor Corporation will post -0.39 EPS for the current year.

Insider Activity

In other Navitas Semiconductor news, CFO Todd Glickman sold 98,152 shares of the company’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 sale, the chief financial officer directly owned 735,231 shares of the company’s stock, valued at approximately $7,925,790.18. This represents a 11.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Chris Allexandre sold 9,236 shares of the company’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $8.93, for a total transaction of $82,477.48. Following the sale, the chief executive officer directly owned 813,323 shares of the company’s stock, valued at approximately $7,262,974.39. This represents a 1.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 509,016 shares of company stock valued at $4,967,814 over the last three months. Insiders own 12.40% of the company’s stock.

Institutional Trading of Navitas Semiconductor

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Invesco Ltd. increased its stake in shares of Navitas Semiconductor by 257.8% in the fourth quarter. Invesco Ltd. now owns 4,737,624 shares of the company’s stock worth $33,827,000 after purchasing an additional 3,413,394 shares in the last quarter. Marex Group plc increased its stake in shares of Navitas Semiconductor by 22,203.8% in the fourth quarter. Marex Group plc now owns 2,675,113 shares of the company’s stock worth $19,100,000 after purchasing an additional 2,663,119 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Navitas Semiconductor by 23.6% in the third quarter. Vanguard Group Inc. now owns 13,360,648 shares of the company’s stock worth $96,464,000 after purchasing an additional 2,550,613 shares in the last quarter. Ghisallo Capital Management LLC purchased a new stake in shares of Navitas Semiconductor in the fourth quarter worth $15,867,000. Finally, UBS Group AG increased its stake in shares of Navitas Semiconductor by 131.0% in the fourth quarter. UBS Group AG now owns 3,307,036 shares of the company’s stock worth $23,612,000 after purchasing an additional 1,875,228 shares in the last quarter. 46.14% of the stock is owned by hedge funds and other institutional investors.

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.