Navitas Semiconductor Corporation (NASDAQ:NVTS – Get Free Report) shares rose 4.5% on Monday . The company traded as high as $11.74 and last traded at $11.41. 21,226,696 shares were traded during trading, a decline of 21% from the average session volume of 26,846,773 shares. The stock had previously closed at $10.92.
Analysts Set New Price Targets
Several equities research analysts have issued reports on NVTS shares. Robert W. Baird boosted their price objective on shares of Navitas Semiconductor from $9.00 to $20.00 and gave the company an “outperform” rating in a research report on Monday, May 4th. Rosenblatt Securities raised their target price on shares of Navitas Semiconductor from $7.00 to $13.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Weiss Ratings raised shares of Navitas Semiconductor from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, June 17th. 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. Finally, Needham & Company LLC increased their price objective on Navitas Semiconductor from $13.00 to $21.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Navitas Semiconductor currently has an average rating of “Hold” and an average price target of $14.74.
Check Out Our Latest Stock Report on NVTS
Navitas Semiconductor Stock Up 4.5%
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. Navitas Semiconductor had a negative net margin of 330.67% and a negative return on equity of 14.30%. The company had revenue of $8.60 million during the quarter, compared to analyst estimates of $8.22 million. During the same period in the prior year, the firm earned ($0.06) earnings per share. The firm’s revenue for the quarter was down 38.7% compared to the same quarter last year. Equities analysts forecast that Navitas Semiconductor Corporation will post -0.39 earnings per share for the current year.
Insider Buying and Selling at Navitas Semiconductor
In other news, CEO Chris Allexandre sold 13,323 shares of the business’s 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 owned 1,072,633 shares in the company, valued at approximately $34,120,455.73. The trade was a 1.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gary Kent Wunderlich, Jr. sold 35,165 shares of the company’s stock in a transaction that occurred 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. The trade was a 1.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 3,989,478 shares of company stock worth $116,356,387. 12.40% of the stock is owned by company insiders.
Institutional Trading of Navitas Semiconductor
A number of hedge funds have recently bought and sold shares of NVTS. American Century Companies Inc. boosted its position in Navitas Semiconductor by 104.8% during the 2nd quarter. American Century Companies Inc. now owns 241,450 shares of the company’s stock valued at $1,581,000 after acquiring an additional 123,577 shares in the last quarter. Prudential Financial Inc. bought a new position in shares of Navitas Semiconductor in the 2nd quarter worth $120,000. New York State Common Retirement Fund raised its position in shares of Navitas Semiconductor by 102.7% in the 2nd quarter. New York State Common Retirement Fund now owns 40,255 shares of the company’s stock worth $264,000 after acquiring an additional 20,400 shares in the last quarter. Invesco Ltd. raised its position in shares of Navitas Semiconductor by 75.2% in the 2nd quarter. Invesco Ltd. now owns 3,206,008 shares of the company’s stock worth $20,999,000 after acquiring an additional 1,376,205 shares in the last quarter. Finally, Baird Financial Group Inc. lifted its stake in shares of Navitas Semiconductor by 2,514.3% during the 2nd quarter. Baird Financial Group Inc. now owns 419,237 shares of the company’s stock worth $2,746,000 after purchasing an additional 403,201 shares during the last quarter. Hedge funds and other institutional investors own 46.14% of the company’s stock.
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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