Navitas Semiconductor Corporation (NASDAQ:NVTS – Get Free Report) shares rose 5.3% on Monday . The stock traded as high as $16.12 and last traded at $15.23. 14,001,632 shares traded hands during mid-day trading, a decline of 51% from the average session volume of 28,392,639 shares. The stock had previously closed at $14.46.
Analyst Upgrades and Downgrades
NVTS has been the subject of several research reports. Wall Street Zen upgraded Navitas Semiconductor from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Morgan Stanley reiterated an “underweight” rating and issued a $13.70 price target on shares of Navitas Semiconductor in a report on Wednesday, May 6th. Needham & Company LLC raised their price objective on Navitas Semiconductor from $13.00 to $21.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Rosenblatt Securities boosted their price objective on Navitas Semiconductor from $7.00 to $13.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Finally, Robert W. Baird increased their target price on Navitas Semiconductor from $9.00 to $20.00 and gave the stock an “outperform” rating in a report on Monday, May 4th. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $14.74.
Read Our Latest Report on NVTS
Navitas Semiconductor Price Performance
Navitas Semiconductor (NASDAQ:NVTS – Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.04) earnings per share 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 analysts’ expectations 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 for the quarter was down 38.7% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.06) earnings per share. On average, analysts forecast that Navitas Semiconductor Corporation will post -0.39 EPS for the current year.
Insiders Place Their Bets
In other news, Director Gary Kent Wunderlich, Jr. sold 35,165 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $28.14, for a total transaction of $989,543.10. Following the completion of the sale, the director directly owned 2,375,060 shares of the company’s stock, valued at $66,834,188.40. This trade represents a 1.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Richard J. Hendrix sold 110,165 shares of Navitas Semiconductor stock in a transaction on 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 owned 101,709 shares in the company, valued at $2,945,492.64. The trade was a 52.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 3,989,478 shares of company stock valued at $116,356,387. 12.40% of the stock is owned by insiders.
Institutional Trading of Navitas Semiconductor
A number of large investors have recently added to or reduced their stakes in NVTS. Allworth Financial LP boosted its stake in Navitas Semiconductor by 309.4% in the third quarter. Allworth Financial LP now owns 3,570 shares of the company’s stock valued at $26,000 after acquiring an additional 2,698 shares during the last quarter. NewEdge Advisors LLC increased its stake in shares of Navitas Semiconductor by 189.8% during the 2nd quarter. NewEdge Advisors LLC now owns 4,492 shares of the company’s stock worth $29,000 after purchasing an additional 2,942 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Navitas Semiconductor by 116.5% in the 4th quarter. GAMMA Investing LLC now owns 4,736 shares of the company’s stock worth $34,000 after purchasing an additional 2,548 shares during the period. Geneos Wealth Management Inc. raised its holdings in shares of Navitas Semiconductor by 3,200.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 4,125 shares of the company’s stock worth $36,000 after purchasing an additional 4,000 shares during the period. Finally, State of Wyoming lifted its stake in Navitas Semiconductor by 92.8% in the first quarter. State of Wyoming now owns 4,803 shares of the company’s stock valued at $42,000 after purchasing an additional 2,312 shares during the last quarter. Hedge funds and other institutional investors own 46.14% of the company’s stock.
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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