Navitas Semiconductor (NASDAQ:NVTS) Sees Large Volume Increase – Still a Buy?

Navitas Semiconductor Corporation (NASDAQ:NVTS) saw unusually-strong trading volume on Monday . Approximately 12,135,474 shares traded hands during mid-day trading, an increase of 12% from the previous session’s volume of 10,861,820 shares.The stock last traded at $7.78 and had previously closed at $7.32.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on NVTS shares. Rosenblatt Securities increased their price target on Navitas Semiconductor from $4.00 to $6.00 and gave the company a “buy” rating in a research report on Thursday, May 22nd. Deutsche Bank Aktiengesellschaft lowered Navitas Semiconductor from a “buy” rating to a “hold” rating and set a $3.50 target price for the company. in a research report on Tuesday. Needham & Company LLC decreased their target price on Navitas Semiconductor from $4.00 to $3.00 and set a “buy” rating for the company in a research report on Tuesday, May 6th. Robert W. Baird decreased their target price on Navitas Semiconductor from $5.00 to $4.00 and set an “outperform” rating for the company in a research report on Wednesday, March 5th. Finally, Morgan Stanley lowered Navitas Semiconductor from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $2.10 to $1.50 in a research report on Monday, April 7th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $3.71.

Navitas Semiconductor Trading Down 4.6%

The firm has a fifty day moving average of $3.60 and a two-hundred day moving average of $3.19. The company has a market cap of $1.32 billion, a PE ratio of -13.19 and a beta of 2.96.

Navitas Semiconductor (NASDAQ:NVTS) last announced its quarterly earnings data on Monday, May 5th. The company reported ($0.06) earnings per share for the quarter, hitting the consensus estimate of ($0.06). Navitas Semiconductor had a negative return on equity of 22.62% and a negative net margin of 131.83%. The company had revenue of $14.02 million during the quarter, compared to analyst estimates of $14.01 million. During the same quarter last year, the firm posted ($0.06) EPS. The firm’s revenue for the quarter was down 39.7% on a year-over-year basis. Sell-side analysts expect that Navitas Semiconductor Corporation will post -0.51 EPS for the current fiscal year.

Insider Buying and Selling

In other Navitas Semiconductor news, CEO Eugene Sheridan sold 2,155,783 shares of the firm’s stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $4.49, for a total value of $9,679,465.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Sicpower, Llc sold 8,500 shares of the firm’s stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $6.53, for a total value of $55,505.00. Following the completion of the transaction, the insider now owns 24,874,661 shares of the company’s stock, valued at approximately $162,431,536.33. This represents a 0.03% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,131,789 shares of company stock valued at $99,872,523. 29.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. American Century Companies Inc. grew its holdings in shares of Navitas Semiconductor by 52.7% during the fourth quarter. American Century Companies Inc. now owns 15,704 shares of the company’s stock worth $56,000 after purchasing an additional 5,419 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in Navitas Semiconductor by 125.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,294 shares of the company’s stock worth $37,000 after buying an additional 5,726 shares in the last quarter. 180 Wealth Advisors LLC boosted its stake in Navitas Semiconductor by 7.6% in the first quarter. 180 Wealth Advisors LLC now owns 97,602 shares of the company’s stock worth $200,000 after buying an additional 6,920 shares in the last quarter. Goodman Financial Corp purchased a new stake in Navitas Semiconductor in the fourth quarter worth approximately $36,000. Finally, Caption Management LLC purchased a new stake in Navitas Semiconductor in the fourth quarter worth approximately $36,000. Hedge funds and other institutional investors own 46.14% of the company’s stock.

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.