Traders Purchase High Volume of Call Options on Navitas Semiconductor (NASDAQ:NVTS)

Key Points

• On Tuesday, investors purchased a total of 66,494 call options for Navitas Semiconductor, representing a significant 110% increase from the usual volume of 31,656.
• Insider transactions show Director Brian Long and CEO Eugene Sheridan sold substantial shares, with Long's sales resulting in an 18.84% decrease in his position, while Sheridan's sale marked a 34.10% reduction in his ownership.
• Analyst ratings for Navitas Semiconductor are mixed, with one sell rating, one hold, and four buy ratings; the consensus price target is $3.71.

Navitas Semiconductor Corporation (NASDAQ:NVTS - Get Free Report) saw unusually large options trading on Tuesday. Traders bought 66,494 call options on the company. Thisisanincreaseof110% compared to the average volume of 31,656 call options.

Insider Buying and Selling

In other Navitas Semiconductor news, CEO Eugene Sheridan sold 2,155,783 shares of Navitas Semiconductor stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $4.49, for a total value of $9,679,465.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Brian Long sold 2,955,509 shares of Navitas Semiconductor stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $6.61, for a total value of $19,535,914.49. Following the completion of the sale, the director owned 5,920,991 shares of the company's stock, valued at approximately $39,137,750.51. The trade was a 33.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,084,600 shares of company stock valued at $99,761,157 over the last 90 days. 29.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Navitas Semiconductor

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Cranbrook Wealth Management LLC bought a new stake in shares of Navitas Semiconductor during the 2nd quarter valued at $25,000. Simplicity Wealth LLC bought a new position in Navitas Semiconductor in the 1st quarter worth about $26,000. Larson Financial Group LLC bought a new position in Navitas Semiconductor in the 1st quarter worth about $28,000. Benjamin Edwards Inc. bought a new position in Navitas Semiconductor in the 1st quarter worth about $31,000. Finally, ST Germain D J Co. Inc. bought a new position in Navitas Semiconductor in the 2nd quarter worth about $33,000. 46.14% of the stock is currently owned by institutional investors.

Navitas Semiconductor Trading Down 2.0%

Navitas Semiconductor stock traded down $0.14 during trading on Friday, hitting $6.66. 14,403,050 shares of the company were exchanged, compared to its average volume of 22,297,105. The business's 50 day moving average is $6.96 and its 200 day moving average is $4.07. Navitas Semiconductor has a 52 week low of $1.52 and a 52 week high of $9.48. The company has a market capitalization of $1.28 billion, a P/E ratio of -10.22 and a beta of 3.02.

Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The company reported ($0.05) earnings per share for the quarter, hitting the consensus estimate of ($0.05). Navitas Semiconductor had a negative return on equity of 18.16% and a negative net margin of 182.63%. The business had revenue of $14.49 million for the quarter, compared to analysts' expectations of $14.43 million. During the same quarter in the previous year, the firm earned ($0.07) earnings per share. The business's revenue was down 29.2% on a year-over-year basis. Equities analysts expect that Navitas Semiconductor will post -0.51 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on NVTS shares. Morgan Stanley set a $4.40 target price on Navitas Semiconductor in a report on Tuesday. Deutsche Bank Aktiengesellschaft downgraded Navitas Semiconductor from a "buy" rating to a "hold" rating and set a $3.50 price objective for the company. in a report on Tuesday, June 17th. Needham & Company LLC boosted their price objective on Navitas Semiconductor from $3.00 to $8.00 and gave the company a "buy" rating in a report on Tuesday. Rosenblatt Securities decreased their price objective on Navitas Semiconductor from $10.00 to $8.00 and set a "buy" rating for the company in a report on Tuesday. Finally, Craig Hallum downgraded Navitas Semiconductor from a "buy" rating to a "hold" rating and set a $6.00 price objective for the company. in a report on Tuesday. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, Navitas Semiconductor currently has a consensus rating of "Hold" and an average price target of $5.65.

Navitas Semiconductor Company Profile

Navitas Semiconductor Corporation designs, develops, and markets gallium nitride power integrated circuits, silicon carbide, associated high-speed silicon system controllers, and digital isolators used in power conversion and charging. The company's products are used in mobile, consumer, data center, solar, electric vehicle, industrial motor drive, smart grid, and transportation applications.