Navitas Semiconductor (NASDAQ:NVTS) Sees Strong Trading Volume – Should You Buy?

Navitas Semiconductor Co. (NASDAQ:NVTS) shares saw an uptick in trading volume on Monday . 16,738,167 shares changed hands during trading, an increase of 82% from the previous session’s volume of 9,191,115 shares.The stock last traded at $7.19 and had previously closed at $6.18.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on NVTS shares. Morgan Stanley downgraded Navitas Semiconductor from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $2.10 to $1.50 in a research report on Monday, April 7th. Needham & Company LLC dropped their price target on Navitas Semiconductor from $4.00 to $3.00 and set a “buy” rating on the stock in a research report on Tuesday, May 6th. Rosenblatt Securities upped their price target on Navitas Semiconductor from $4.00 to $6.00 and gave the stock a “buy” rating in a report on Thursday, May 22nd. Finally, Robert W. Baird lowered their price objective on shares of Navitas Semiconductor from $5.00 to $4.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $3.79.

Navitas Semiconductor Stock Up 10.8%

The stock has a market capitalization of $1.55 billion, a P/E ratio of -19.26 and a beta of 2.96. The firm has a 50-day moving average of $3.03 and a 200 day moving average of $3.02.

Navitas Semiconductor (NASDAQ:NVTS) last released its quarterly earnings data on Monday, May 5th. The company reported ($0.06) EPS for the quarter, hitting analysts’ consensus estimates of ($0.06). The company had revenue of $14.02 million during the quarter, compared to the consensus estimate of $14.01 million. Navitas Semiconductor had a negative net margin of 84.61% and a negative return on equity of 23.64%. The firm’s revenue for the quarter was down 39.7% compared to the same quarter last year. During the same period last year, the firm earned ($0.06) EPS. Analysts predict that Navitas Semiconductor Co. will post -0.51 EPS for the current fiscal year.

Insider Buying and Selling at Navitas Semiconductor

In other Navitas Semiconductor news, major shareholder Sicpower, Llc sold 8,500 shares of the stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $6.53, for a total transaction of $55,505.00. Following the completion of the transaction, the insider now directly owns 24,874,661 shares in the company, valued at $162,431,536.33. This represents a 0.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Brian Long sold 2,955,509 shares of Navitas Semiconductor stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $6.61, for a total value of $19,535,914.49. Following the transaction, the director now directly owns 5,920,991 shares of the company’s stock, valued at approximately $39,137,750.51. The trade was a 33.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,556,933 shares of company stock valued at $56,300,020. 29.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Navitas Semiconductor

Several institutional investors have recently added to or reduced their stakes in NVTS. Bank of America Corp DE increased its holdings in shares of Navitas Semiconductor by 180.5% during the fourth quarter. Bank of America Corp DE now owns 1,234,375 shares of the company’s stock worth $4,407,000 after buying an additional 794,371 shares in the last quarter. Invesco Ltd. increased its holdings in Navitas Semiconductor by 22.2% during the 1st quarter. Invesco Ltd. now owns 1,829,803 shares of the company’s stock valued at $3,751,000 after purchasing an additional 331,832 shares in the last quarter. Nuveen LLC bought a new position in Navitas Semiconductor in the 1st quarter valued at $675,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Navitas Semiconductor in the fourth quarter valued at $1,170,000. Finally, Edge Capital Group LLC bought a new stake in Navitas Semiconductor during the 4th quarter worth about $987,000. 46.14% of the stock is owned by institutional investors.

Navitas Semiconductor Company Profile

Navitas Semiconductor Corporation designs, develops, and markets gallium nitride power integrated circuits, silicon carbide, associated high-speed silicon system controllers, and digital isolators used in power conversion and charging. The company’s products are used in mobile, consumer, data center, solar, electric vehicle, industrial motor drive, smart grid, and transportation applications.