Navitas Semiconductor Corporation (NASDAQ:NVTS – Get Free Report)’s stock price traded up 1% during trading on Tuesday . The stock traded as high as $18.28 and last traded at $17.92. 14,967,893 shares were traded during trading, a decline of 48% from the average daily volume of 28,606,736 shares. The stock had previously closed at $17.74.
Wall Street Analyst Weigh In
A number of brokerages have recently weighed in on NVTS. Wall Street Zen raised shares of Navitas Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Morgan Stanley reaffirmed an “underweight” rating and set a $13.70 price target on shares of Navitas Semiconductor in a research report on Wednesday, May 6th. Rosenblatt Securities boosted their price target on Navitas Semiconductor from $7.00 to $13.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Robert W. Baird boosted their price target on Navitas Semiconductor from $9.00 to $20.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. Finally, Needham & Company LLC increased their price objective on Navitas Semiconductor from $13.00 to $21.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $14.74.
Read Our Latest Report on Navitas Semiconductor
Navitas Semiconductor Stock Performance
Navitas Semiconductor (NASDAQ:NVTS – Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. The firm 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 business’s quarterly revenue was down 38.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.06) earnings per share. As a group, sell-side analysts forecast that Navitas Semiconductor Corporation will post -0.39 earnings per share for the current year.
Insider Buying and Selling
In other news, Director Ranbir Singh sold 664,058 shares of the company’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $28.72, for a total value of $19,071,745.76. Following the sale, the director owned 14,943,475 shares in the company, valued at $429,176,602. This represents a 4.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard J. Hendrix sold 110,165 shares of the firm’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $28.96, for a total value of $3,190,378.40. Following the sale, the director directly owned 101,709 shares in the company, valued at approximately $2,945,492.64. This trade represents a 52.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 3,989,478 shares of company stock valued at $116,356,387 over the last quarter. 12.40% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of the stock. DNB Asset Management AS acquired a new stake in shares of Navitas Semiconductor during the 4th quarter valued at about $774,000. UBS Group AG raised its holdings in Navitas Semiconductor by 131.0% in the 4th quarter. UBS Group AG now owns 3,307,036 shares of the company’s stock worth $23,612,000 after purchasing an additional 1,875,228 shares during the period. Diversify Advisory Services LLC acquired a new position in Navitas Semiconductor in the 3rd quarter worth about $960,000. Newbridge Financial Services Group Inc. boosted its position in Navitas Semiconductor by 1,425.5% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 132,874 shares of the company’s stock worth $949,000 after purchasing an additional 124,164 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Navitas Semiconductor during the fourth quarter worth approximately $484,000. 46.14% of the stock is owned by institutional investors and hedge funds.
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.
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