Navitas Semiconductor Corporation (NASDAQ:NVTS – Get Free Report)’s share price was up 1.7% during mid-day trading on Tuesday . The company traded as high as $13.73 and last traded at $13.09. 9,962,024 shares traded hands during mid-day trading, a decline of 64% from the average daily volume of 27,738,516 shares. The stock had previously closed at $12.87.
Wall Street Analyst Weigh In
A number of equities analysts have weighed in on the stock. Wall Street Zen raised shares of Navitas Semiconductor from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Morgan Stanley reissued an “underweight” rating and issued a $13.70 price target on shares of Navitas Semiconductor in a report on Wednesday, May 6th. Rosenblatt Securities upped 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 upgraded Navitas Semiconductor from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, June 17th. Finally, Needham & Company LLC lifted their target price on Navitas Semiconductor from $13.00 to $21.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $14.74.
View Our Latest Report on NVTS
Navitas Semiconductor Price Performance
Navitas Semiconductor (NASDAQ:NVTS – Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. Navitas Semiconductor had a negative net margin of 330.67% and a negative return on equity of 14.30%. The firm had revenue of $8.60 million for the quarter, compared to analysts’ expectations of $8.22 million. During the same period last year, the firm earned ($0.06) earnings per share. The business’s revenue for the quarter was down 38.7% on a year-over-year basis. As a group, equities research analysts expect that Navitas Semiconductor Corporation will post -0.39 EPS for the current year.
Insider Buying and Selling
In related news, Director Ranbir Singh sold 3,060,118 shares of Navitas Semiconductor stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $29.29, for a total transaction of $89,630,856.22. Following the completion of the sale, the director directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Richard J. Hendrix sold 110,165 shares of the company’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $28.96, for a total value of $3,190,378.40. Following the completion of the sale, the director owned 101,709 shares of the company’s stock, valued at $2,945,492.64. This represents a 52.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 3,989,478 shares of company stock valued at $116,356,387 over the last 90 days. Company insiders own 12.40% of the company’s stock.
Institutional Trading of Navitas Semiconductor
A number of hedge funds have recently modified their holdings of the company. Kestra Advisory Services LLC grew its holdings in Navitas Semiconductor by 2.8% during the first quarter. Kestra Advisory Services LLC now owns 42,189 shares of the company’s stock valued at $370,000 after purchasing an additional 1,150 shares during the period. Beaird Harris Wealth Management LLC raised its holdings in Navitas Semiconductor by 247.8% in the second quarter. Beaird Harris Wealth Management LLC now owns 1,739 shares of the company’s stock worth $31,000 after purchasing an additional 1,239 shares during the period. Russell Investments Group Ltd. boosted its position in shares of Navitas Semiconductor by 12.6% during the fourth 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 in the last quarter. Captrust Financial Advisors grew its holdings in shares of Navitas Semiconductor by 3.8% in the 2nd quarter. Captrust Financial Advisors now owns 45,758 shares of the company’s stock valued at $300,000 after buying an additional 1,667 shares during the period. Finally, Wealthcare Advisory Partners LLC grew its holdings in shares of Navitas Semiconductor by 16.8% in 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 period. 46.14% of the stock is currently 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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