Navitas Semiconductor (NASDAQ:NVTS) Trading Up 11.2% – What’s Next?

Shares of Navitas Semiconductor Corporation (NASDAQ:NVTS) were up 11.2% during trading on Tuesday . The company traded as high as $12.86 and last traded at $12.83. 11,868,913 shares traded hands during mid-day trading, a decline of 56% from the average daily volume of 27,203,676 shares. The stock had previously closed at $11.54.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Weiss Ratings raised Navitas Semiconductor from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, June 17th. Needham & Company LLC boosted their price objective on Navitas Semiconductor from $13.00 to $21.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Rosenblatt Securities upped their price objective on Navitas Semiconductor from $7.00 to $13.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Morgan Stanley reaffirmed an “underweight” rating and issued a $13.70 target price on shares of Navitas Semiconductor in a research report on Wednesday, May 6th. Finally, Wall Street Zen upgraded Navitas Semiconductor from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $14.74.

Navitas Semiconductor Price Performance

The stock has a fifty day moving average price of $20.41 and a two-hundred day moving average price of $14.14. The company has a market cap of $2.91 billion, a P/E ratio of -19.98 and a beta of 3.82.

Navitas Semiconductor (NASDAQ:NVTS) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. The business had revenue of $8.60 million during the quarter, compared to analyst estimates of $8.22 million. Navitas Semiconductor had a negative return on equity of 14.30% and a negative net margin of 330.67%.The business’s revenue for the quarter was down 38.7% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.06) EPS. As a group, analysts forecast that Navitas Semiconductor Corporation will post -0.39 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Richard J. Hendrix sold 110,165 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $28.96, for a total transaction of $3,190,378.40. Following the transaction, the director directly owned 101,709 shares of the company’s stock, valued at approximately $2,945,492.64. This trade represents a 52.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Chris Allexandre sold 13,323 shares of the company’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $31.81, for a total transaction of $423,804.63. Following the completion of the sale, the chief executive officer directly owned 1,072,633 shares of the company’s stock, valued at $34,120,455.73. The trade was a 1.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 3,989,478 shares of company stock valued at $116,356,387 over the last three months. 12.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Invesco Ltd. raised its holdings in Navitas Semiconductor by 257.8% during 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 position in shares of Navitas Semiconductor by 22,203.8% during the 4th quarter. Marex Group plc now owns 2,675,113 shares of the company’s stock valued at $19,100,000 after purchasing an additional 2,663,119 shares during the period. Ghisallo Capital Management LLC acquired a new position in shares of Navitas Semiconductor during the 4th quarter valued at $15,867,000. UBS Group AG raised its stake in shares of Navitas Semiconductor by 131.0% in the 4th quarter. UBS Group AG now owns 3,307,036 shares of the company’s stock worth $23,612,000 after buying an additional 1,875,228 shares in the last quarter. Finally, Jump Financial LLC acquired a new stake in shares of Navitas Semiconductor in the third quarter valued at $11,243,000. 46.14% of the stock is currently owned by 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.