Navitas Semiconductor (NASDAQ:NVTS) Stock Price Up 6.1% – Should You Buy?

Navitas Semiconductor Corporation (NASDAQ:NVTS)’s share price rose 6.1% during mid-day trading on Thursday . The stock traded as high as $14.53 and last traded at $14.18. Approximately 15,623,001 shares changed hands during trading, a decline of 44% from the average daily volume of 28,122,234 shares. The stock had previously closed at $13.36.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Robert W. Baird lifted their price objective on shares of Navitas Semiconductor from $9.00 to $20.00 and gave the stock an “outperform” rating in a research report on Monday, May 4th. Needham & Company LLC raised their target price on shares of Navitas Semiconductor from $13.00 to $21.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Weiss Ratings raised shares of Navitas Semiconductor from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, June 17th. Morgan Stanley reiterated an “underweight” rating and issued a $13.70 price target on shares of Navitas Semiconductor in a research note 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 analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $14.74.

Navitas Semiconductor Trading Up 6.1%

The company has a 50 day moving average of $21.44 and a 200-day moving average of $13.77. The firm has a market capitalization of $3.31 billion, a P/E ratio of -22.51 and a beta of 3.82.

Navitas Semiconductor (NASDAQ:NVTS) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate 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 earned ($0.06) EPS. The company’s quarterly revenue was down 38.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Navitas Semiconductor Corporation will post -0.39 EPS for the current fiscal year.

Insider Buying and Selling at Navitas Semiconductor

In other news, Director Ranbir Singh sold 664,058 shares of Navitas Semiconductor stock in a transaction that occurred on Thursday, May 28th. The shares were 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 directly owned 14,943,475 shares in the company, valued at approximately $429,176,602. The trade was a 4.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gary Kent Wunderlich, Jr. sold 35,165 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $28.14, for a total value 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. This trade represents a 1.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 3,989,478 shares of company stock valued at $116,356,387 in the last three months. Corporate insiders own 12.40% of the company’s stock.

Institutional Trading of Navitas Semiconductor

Several large investors have recently modified their holdings of the stock. Allworth Financial LP increased its position in shares of Navitas Semiconductor by 309.4% in the third quarter. Allworth Financial LP now owns 3,570 shares of the company’s stock worth $26,000 after purchasing an additional 2,698 shares during the period. NewEdge Advisors LLC raised its stake in Navitas Semiconductor by 189.8% in the second quarter. NewEdge Advisors LLC now owns 4,492 shares of the company’s stock valued at $29,000 after purchasing an additional 2,942 shares in the last quarter. Beaird Harris Wealth Management LLC lifted its position in Navitas Semiconductor by 247.8% during the second quarter. Beaird Harris Wealth Management LLC now owns 1,739 shares of the company’s stock worth $31,000 after purchasing an additional 1,239 shares during the period. GAMMA Investing LLC lifted its position in Navitas Semiconductor by 116.5% during the fourth quarter. GAMMA Investing LLC now owns 4,736 shares of the company’s stock worth $34,000 after purchasing an additional 2,548 shares during the period. Finally, Geneos Wealth Management Inc. grew its stake in Navitas Semiconductor by 3,200.0% during the first quarter. Geneos Wealth Management Inc. now owns 4,125 shares of the company’s stock worth $36,000 after buying an additional 4,000 shares in the last quarter. 46.14% of the stock is 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.