Navitas Semiconductor Corporation (NASDAQ:NVTS – Get Free Report)’s stock price traded up 8.6% during trading on Thursday . The company traded as high as $22.76 and last traded at $22.9860. 15,545,814 shares changed hands during trading, a decline of 43% from the average session volume of 27,062,957 shares. The stock had previously closed at $21.17.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on the stock. Rosenblatt Securities raised their price target on shares of Navitas Semiconductor from $7.00 to $13.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Needham & Company LLC raised their price target on shares of Navitas Semiconductor from $13.00 to $21.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Morgan Stanley reiterated an “underweight” rating and set a $13.70 price objective on shares of Navitas Semiconductor in a research note on Wednesday, May 6th. Wall Street Zen upgraded shares of Navitas Semiconductor from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Navitas Semiconductor in a research note on Tuesday, April 21st. Two analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $12.87.
View Our Latest Stock Analysis on NVTS
Navitas Semiconductor Trading Up 5.1%
Navitas Semiconductor (NASDAQ:NVTS – Get Free Report) last posted its earnings results on Tuesday, May 5th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.01. The business had revenue of $8.60 million for the quarter, compared to the consensus estimate 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 was down 38.7% compared to the same quarter last year. During the same period last year, the company earned ($0.06) EPS. Analysts expect that Navitas Semiconductor Corporation will post -0.26 EPS for the current year.
Insider Activity
In related news, CEO Chris Allexandre sold 9,236 shares of Navitas Semiconductor stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $8.93, for a total value of $82,477.48. Following the completion of the sale, the chief executive officer owned 813,323 shares of the company’s stock, valued at approximately $7,262,974.39. This trade represents a 1.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ranbir Singh sold 389,096 shares of Navitas Semiconductor stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $9.52, for a total transaction of $3,704,193.92. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 509,016 shares of company stock worth $4,967,814 in the last quarter. 29.90% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Navitas Semiconductor
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NVTS. Allworth Financial LP increased its position in shares of Navitas Semiconductor by 309.4% during the third quarter. Allworth Financial LP now owns 3,570 shares of the company’s stock valued at $26,000 after buying an additional 2,698 shares during the period. Geneos Wealth Management Inc. boosted its stake in Navitas Semiconductor by 3,200.0% in 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. NewEdge Advisors LLC boosted 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 worth $29,000 after buying an additional 2,942 shares in the last quarter. CWM LLC boosted its stake in Navitas Semiconductor by 24.7% in the third quarter. CWM LLC now owns 4,515 shares of the company’s stock worth $33,000 after buying an additional 893 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in Navitas Semiconductor by 116.5% in the fourth quarter. GAMMA Investing LLC now owns 4,736 shares of the company’s stock worth $34,000 after buying an additional 2,548 shares in the last quarter. 46.14% of the stock is currently owned by institutional investors.
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.
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