Navitas Semiconductor (NASDAQ:NVTS) Trading Up 1.1% – Here’s What Happened

Shares of Navitas Semiconductor Corporation (NASDAQ:NVTSGet Free Report) traded up 1.1% during mid-day trading on Wednesday . The company traded as high as $23.63 and last traded at $22.34. 19,937,658 shares changed hands during mid-day trading, a decline of 31% from the average session volume of 28,995,852 shares. The stock had previously closed at $22.09.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Needham & Company LLC lifted their price objective on Navitas Semiconductor from $13.00 to $21.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Robert W. Baird upped their price target on Navitas Semiconductor from $9.00 to $20.00 and gave the stock an “outperform” rating in a research note on Monday, May 4th. Rosenblatt Securities increased their price objective on Navitas Semiconductor from $7.00 to $13.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Weiss Ratings raised Navitas Semiconductor from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday. Finally, Wall Street Zen raised shares of Navitas Semiconductor from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $14.74.

View Our Latest Report on NVTS

Navitas Semiconductor Price Performance

The company has a market cap of $5.61 billion, a P/E ratio of -38.13 and a beta of 3.75. The company’s 50-day moving average is $20.20 and its two-hundred day moving average is $12.89.

Navitas Semiconductor (NASDAQ:NVTSGet Free Report) last issued its earnings results on Tuesday, May 5th. The company reported ($0.04) EPS for the quarter, beating 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 return on equity of 14.30% and a negative net margin of 330.67%.The company’s revenue was down 38.7% compared to the same quarter last year. During the same period last year, the business posted ($0.06) EPS. Equities research analysts anticipate that Navitas Semiconductor Corporation will post -0.39 EPS for the current year.

Insiders Place Their Bets

In related news, Director Richard J. Hendrix sold 110,165 shares of the stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $28.96, for a total transaction of $3,190,378.40. Following the sale, the director directly owned 101,709 shares of the company’s stock, valued at $2,945,492.64. This trade represents a 52.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ranbir Singh sold 3,060,118 shares of Navitas Semiconductor stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $29.29, for a total value of $89,630,856.22. Following the completion of the sale, the director owned 15,607,533 shares of the company’s stock, valued at $457,144,641.57. The trade was a 16.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 3,989,478 shares of company stock valued at $116,356,387. Company insiders own 12.40% of the company’s stock.

Institutional Trading of Navitas Semiconductor

Large investors have recently made changes to their positions in the stock. Prospera Financial Services Inc raised its holdings in shares of Navitas Semiconductor by 3.8% during the third quarter. Prospera Financial Services Inc now owns 30,285 shares of the company’s stock valued at $219,000 after purchasing an additional 1,120 shares during the last quarter. Kestra Advisory Services LLC grew its position in Navitas Semiconductor by 2.8% in the 1st quarter. Kestra Advisory Services LLC now owns 42,189 shares of the company’s stock worth $370,000 after purchasing an additional 1,150 shares during the period. Russell Investments Group Ltd. grew its position in Navitas Semiconductor by 12.6% in the 4th quarter. Russell Investments Group Ltd. now owns 13,476 shares of the company’s stock worth $96,000 after purchasing an additional 1,505 shares during the period. Captrust Financial Advisors grew its position in Navitas Semiconductor by 3.8% in the 2nd quarter. Captrust Financial Advisors now owns 45,758 shares of the company’s stock worth $300,000 after purchasing an additional 1,667 shares during the period. Finally, Wealthcare Advisory Partners LLC raised its stake in Navitas Semiconductor by 16.8% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 11,996 shares of the company’s stock valued at $86,000 after buying an additional 1,725 shares during the last quarter. 46.14% of the stock is currently owned by institutional investors.

About Navitas Semiconductor

(Get Free Report)

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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