Navitas Semiconductor (NASDAQ:NVTS) Stock Price Up 1.4% – Still a Buy?

Navitas Semiconductor Corporation (NASDAQ:NVTS)’s stock price traded up 1.4% during mid-day trading on Wednesday . The stock traded as high as $13.60 and last traded at $13.27. Approximately 13,955,561 shares were traded during mid-day trading, a decline of 50% from the average daily volume of 27,645,701 shares. The stock had previously closed at $13.09.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Wall Street Zen upgraded Navitas Semiconductor from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Robert W. Baird boosted their price objective on shares of Navitas Semiconductor from $9.00 to $20.00 and gave the company an “outperform” rating in a research report on Monday, May 4th. Morgan Stanley reiterated an “underweight” rating and set a $13.70 price target on shares of Navitas Semiconductor in a research report on Wednesday, May 6th. Needham & Company LLC lifted their price objective on shares of Navitas Semiconductor from $13.00 to $21.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Finally, Rosenblatt Securities boosted their price target on Navitas Semiconductor from $7.00 to $13.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. 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 stock. According to data from MarketBeat.com, Navitas Semiconductor has a consensus rating of “Hold” and an average price target of $14.74.

Navitas Semiconductor Price Performance

The firm has a market capitalization of $2.61 billion, a PE ratio of -17.47 and a beta of 3.82. The firm has a fifty day moving average price of $21.07 and a 200 day moving average price of $14.00.

Navitas Semiconductor (NASDAQ:NVTS) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. Navitas Semiconductor had a negative return on equity of 14.30% and a negative net margin of 330.67%.The firm had revenue of $8.60 million for the quarter, compared to analysts’ expectations of $8.22 million. During the same quarter last year, the business posted ($0.06) EPS. Navitas Semiconductor’s revenue was down 38.7% on a year-over-year basis. On average, sell-side analysts expect that Navitas Semiconductor Corporation will post -0.39 EPS for the current year.

Insiders Place Their Bets

In other news, Director Richard J. Hendrix sold 110,165 shares of the stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $28.96, for a total value of $3,190,378.40. Following the completion of the sale, the director directly owned 101,709 shares of the company’s stock, valued at $2,945,492.64. This represents a 52.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Chris Allexandre sold 13,323 shares of the stock in a transaction that occurred on 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 owned 1,072,633 shares of the company’s stock, valued at approximately $34,120,455.73. The trade was a 1.23% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 3,989,478 shares of company stock worth $116,356,387 over the last three months. Company insiders own 12.40% of the company’s stock.

Institutional Investors Weigh In On Navitas Semiconductor

Several institutional investors have recently made changes to their positions in NVTS. Kestra Advisory Services LLC lifted its stake in Navitas Semiconductor by 2.8% in the first quarter. Kestra Advisory Services LLC now owns 42,189 shares of the company’s stock valued at $370,000 after acquiring an additional 1,150 shares during the last quarter. Beaird Harris Wealth Management LLC increased its holdings in shares of Navitas Semiconductor by 247.8% during the 2nd quarter. Beaird Harris Wealth Management LLC now owns 1,739 shares of the company’s stock valued at $31,000 after acquiring an additional 1,239 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of Navitas Semiconductor by 12.6% in the 4th quarter. Russell Investments Group Ltd. now owns 13,476 shares of the company’s stock valued at $96,000 after acquiring an additional 1,505 shares in the last quarter. Captrust Financial Advisors raised its stake in shares of Navitas Semiconductor by 3.8% in the 2nd quarter. Captrust Financial Advisors now owns 45,758 shares of the company’s stock valued at $300,000 after acquiring an additional 1,667 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC lifted its holdings in Navitas Semiconductor by 16.8% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 11,996 shares of the company’s stock worth $86,000 after purchasing an additional 1,725 shares during the last quarter. 46.14% of the stock is currently owned by institutional investors and hedge funds.

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.