Navitas Semiconductor (NASDAQ:NVTS) Trading 1.1% Higher – Time to Buy?

Navitas Semiconductor Corporation (NASDAQ:NVTS)’s share price was up 1.1% on Wednesday . The stock traded as high as $23.63 and last traded at $22.34. Approximately 19,937,658 shares were traded during mid-day trading, a decline of 31% from the average daily volume of 28,995,852 shares. The stock had previously closed at $22.09.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on NVTS shares. Needham & Company LLC upped their price target on shares of Navitas Semiconductor from $13.00 to $21.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Rosenblatt Securities upped their price target on shares of Navitas Semiconductor from $7.00 to $13.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Robert W. Baird upped their price target on shares of Navitas Semiconductor from $9.00 to $20.00 and gave the company an “outperform” rating in a report on Monday, May 4th. Morgan Stanley reiterated an “underweight” rating and issued a $13.70 price target on shares of Navitas Semiconductor in a report on Wednesday, May 6th. Finally, Weiss Ratings cut shares of Navitas Semiconductor from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 2nd. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Navitas Semiconductor currently has an average rating of “Hold” and an average target price of $14.74.

Navitas Semiconductor Price Performance

The stock’s 50-day moving average price is $19.62 and its 200 day moving average price is $12.68. The firm has a market cap of $5.22 billion, a P/E ratio of -35.46 and a beta of 3.75.

Navitas Semiconductor (NASDAQ:NVTS) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. The business had revenue of $8.60 million for the quarter, compared to analyst estimates of $8.22 million. Navitas Semiconductor had a negative net margin of 330.67% and a negative return on equity of 14.30%. The firm’s revenue for the quarter was down 38.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.06) earnings per share. As a group, 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 Richard J. Hendrix sold 110,165 shares of the business’s stock in a transaction 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 sale, the director owned 101,709 shares of the company’s stock, valued at $2,945,492.64. The trade was a 52.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ranbir Singh sold 664,058 shares of the business’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $28.72, for a total transaction 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. This represents a 4.25% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 3,989,478 shares of company stock worth $116,356,387. Company insiders own 12.40% of the company’s stock.

Institutional Trading of Navitas Semiconductor

A number of institutional investors have recently made changes to their positions in the business. Bank of America Corp DE lifted its position in shares of Navitas Semiconductor by 17.2% in the first quarter. Bank of America Corp DE now owns 826,674 shares of the company’s stock worth $7,250,000 after purchasing an additional 121,162 shares in the last quarter. Arkadios Wealth Advisors bought a new stake in Navitas Semiconductor during the first quarter worth $123,000. California State Teachers Retirement System raised its position in Navitas Semiconductor by 39.8% during the first quarter. California State Teachers Retirement System now owns 227,220 shares of the company’s stock worth $1,993,000 after acquiring an additional 64,643 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in Navitas Semiconductor by 12.5% during the first quarter. The Manufacturers Life Insurance Company now owns 93,115 shares of the company’s stock worth $817,000 after acquiring an additional 10,323 shares in the last quarter. Finally, Quantinno Capital Management LP bought a new stake in Navitas Semiconductor during the first quarter worth $160,000. Institutional investors own 46.14% of the company’s stock.

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.