Navitas Semiconductor Sees Unusually High Options Volume (NASDAQ:NVTS)

Navitas Semiconductor Co. (NASDAQ:NVTS - Get Free Report) was the target of some unusual options trading on Thursday. Stock traders acquired 28,689 call options on the stock. This represents an increase of approximately 1,333% compared to the typical volume of 2,002 call options.

Navitas Semiconductor Trading Down 12.7%

Shares of NVTS stock traded down $0.64 on Friday, reaching $4.41. 77,674,115 shares of the company's stock were exchanged, compared to its average volume of 5,444,966. Navitas Semiconductor has a 52 week low of $1.52 and a 52 week high of $5.25. The stock has a market capitalization of $845.87 million, a PE ratio of -10.50 and a beta of 2.24. The company's fifty day simple moving average is $2.06 and its 200 day simple moving average is $2.67.

Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported ($0.06) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.06). The firm had revenue of $14.02 million during the quarter, compared to analyst estimates of $14.01 million. Navitas Semiconductor had a negative return on equity of 23.64% and a negative net margin of 84.61%. Navitas Semiconductor's quarterly revenue was down 39.7% compared to the same quarter last year. During the same period last year, the company earned ($0.06) EPS. As a group, sell-side analysts predict that Navitas Semiconductor will post -0.51 earnings per share for the current fiscal year.

Insider Buying and Selling at Navitas Semiconductor

In other news, Director David Moxam sold 75,000 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $2.08, for a total value of $156,000.00. Following the completion of the sale, the director now directly owns 792,848 shares of the company's stock, valued at $1,649,123.84. This trade represents a 8.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Todd Glickman sold 13,644 shares of the firm's stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $2.59, for a total value of $35,337.96. Following the completion of the sale, the chief financial officer now directly owns 684,497 shares of the company's stock, valued at $1,772,847.23. The trade was a 1.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 153,877 shares of company stock worth $349,262 in the last quarter. 31.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Navitas Semiconductor

Institutional investors and hedge funds have recently bought and sold shares of the company. Simplicity Wealth LLC bought a new stake in Navitas Semiconductor during the 1st quarter valued at $26,000. Larson Financial Group LLC bought a new stake in Navitas Semiconductor during the 1st quarter valued at $28,000. Benjamin Edwards Inc. bought a new stake in Navitas Semiconductor during the 1st quarter valued at $31,000. Goodman Financial Corp bought a new stake in Navitas Semiconductor during the 4th quarter valued at $36,000. Finally, Caption Management LLC bought a new stake in Navitas Semiconductor during the 4th quarter valued at $36,000. 46.14% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

NVTS has been the subject of several analyst reports. Needham & Company LLC lowered their price objective on Navitas Semiconductor from $4.00 to $3.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. Morgan Stanley lowered Navitas Semiconductor from an "equal weight" rating to an "underweight" rating and decreased their price target for the stock from $2.10 to $1.50 in a research note on Monday, April 7th. Rosenblatt Securities raised their price target on Navitas Semiconductor from $4.00 to $6.00 and gave the stock a "buy" rating in a research note on Thursday. Finally, Robert W. Baird decreased their price target on Navitas Semiconductor from $5.00 to $4.00 and set an "outperform" rating for the company in a research note on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $3.79.

About Navitas Semiconductor

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.