Navitas Semiconductor (NASDAQ:NVTS) Trading Up 2.5% – What’s Next?

Navitas Semiconductor Corporation (NASDAQ:NVTSGet Free Report)’s stock price shot up 2.5% during trading on Monday . The stock traded as high as $18.15 and last traded at $17.74. 17,456,229 shares changed hands during trading, a decline of 39% from the average session volume of 28,693,535 shares. The stock had previously closed at $17.30.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on NVTS shares. Wall Street Zen raised Navitas Semiconductor from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings upgraded Navitas Semiconductor from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, June 17th. Needham & Company LLC lifted their price target on Navitas Semiconductor from $13.00 to $21.00 and gave the stock a “buy” rating 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. Finally, Morgan Stanley reissued an “underweight” rating and issued a $13.70 price objective on shares of Navitas Semiconductor in a report on Wednesday, May 6th. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $14.74.

View Our Latest Research Report on NVTS

Navitas Semiconductor Stock Performance

The firm has a market cap of $3.86 billion, a price-to-earnings ratio of -26.24 and a beta of 3.75. The business’s 50 day moving average price is $21.70 and its 200 day moving average price is $13.49.

Navitas Semiconductor (NASDAQ:NVTSGet Free Report) last posted its earnings results on Tuesday, May 5th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $8.22 million. During the same period in the previous year, the business posted ($0.06) EPS. The business’s revenue was down 38.7% compared to the same quarter last year. Sell-side analysts anticipate that Navitas Semiconductor Corporation will post -0.39 earnings per share for the current fiscal year.

Insider Activity

In other Navitas Semiconductor news, Director Richard J. Hendrix sold 110,165 shares of the company’s stock in a transaction dated 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 owned 101,709 shares in the company, valued at $2,945,492.64. This represents a 52.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Chris Allexandre sold 13,323 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $31.81, for a total value of $423,804.63. Following the completion of the sale, the chief executive officer directly owned 1,072,633 shares in the company, valued at $34,120,455.73. This represents a 1.23% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 3,989,478 shares of company stock worth $116,356,387. Corporate insiders own 12.40% of the company’s stock.

Institutional Trading of Navitas Semiconductor

A number of large investors have recently made changes to their positions in NVTS. Allworth Financial LP grew its holdings in Navitas Semiconductor by 309.4% during the 3rd quarter. Allworth Financial LP now owns 3,570 shares of the company’s stock worth $26,000 after acquiring an additional 2,698 shares in the last quarter. 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 valued at $36,000 after purchasing an additional 4,000 shares in the last quarter. NewEdge Advisors LLC lifted its position 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 lifted its position in shares of Navitas Semiconductor by 116.5% during 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 last quarter. Finally, State of Wyoming grew its stake in shares of Navitas Semiconductor by 92.8% during the first quarter. State of Wyoming now owns 4,803 shares of the company’s stock worth $42,000 after purchasing an additional 2,312 shares in the last quarter. 46.14% of the stock is currently owned by hedge funds and other 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.

Further Reading

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