Navitas Semiconductor (NASDAQ:NVTS) Shares Up 4.9%

Shares of Navitas Semiconductor Co. (NASDAQ:NVTS - Get Free Report) shot up 4.9% on Monday . The stock traded as high as $4.50 and last traded at $4.48. 1,563,062 shares traded hands during mid-day trading, a decline of 49% from the average session volume of 3,036,652 shares. The stock had previously closed at $4.27.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on NVTS. Northland Securities began coverage on Navitas Semiconductor in a research report on Tuesday, January 16th. They issued a "market perform" rating for the company. Needham & Company LLC decreased their target price on Navitas Semiconductor from $10.00 to $9.00 and set a "buy" rating for the company in a research report on Friday, March 1st. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $12.00 target price on shares of Navitas Semiconductor in a research report on Friday, March 1st. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $9.82.

Navitas Semiconductor Trading Up 3.7 %

The company has a market cap of $794.08 million, a P/E ratio of -5.03 and a beta of 2.60. The business's fifty day moving average is $5.75 and its 200 day moving average is $6.49.

Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last posted its quarterly earnings results on Thursday, February 29th. The company reported ($0.11) EPS for the quarter, topping analysts' consensus estimates of ($0.13) by $0.02. The company had revenue of $26.06 million for the quarter, compared to analysts' expectations of $25.68 million. Navitas Semiconductor had a negative net margin of 183.04% and a negative return on equity of 18.81%. As a group, research analysts expect that Navitas Semiconductor Co. will post -0.46 EPS for the current fiscal year.

Insider Buying and Selling

In other Navitas Semiconductor news, EVP Ranbir Singh sold 10,925 shares of the business's stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $4.80, for a total transaction of $52,440.00. Following the sale, the executive vice president now owns 29,357 shares of the company's stock, valued at approximately $140,913.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Ranbir Singh sold 10,925 shares of the company's stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $4.80, for a total value of $52,440.00. Following the transaction, the executive vice president now owns 29,357 shares of the company's stock, valued at $140,913.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Eugene Sheridan sold 38,431 shares of the company's stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $4.80, for a total transaction of $184,468.80. Following the completion of the transaction, the chief executive officer now owns 3,061,631 shares of the company's stock, valued at $14,695,828.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 73,429 shares of company stock valued at $352,459. 36.80% of the stock is owned by company insiders.

Institutional Trading of Navitas Semiconductor

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Navitas Semiconductor by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 8,777,091 shares of the company's stock worth $70,831,000 after buying an additional 204,384 shares in the last quarter. BlackRock Inc. raised its stake in Navitas Semiconductor by 374.4% in the second quarter. BlackRock Inc. now owns 6,993,014 shares of the company's stock worth $73,706,000 after buying an additional 5,518,894 shares in the last quarter. State Street Corp raised its stake in Navitas Semiconductor by 111.1% in the second quarter. State Street Corp now owns 5,337,289 shares of the company's stock worth $56,255,000 after buying an additional 2,808,415 shares in the last quarter. Kodai Capital Management LP bought a new position in Navitas Semiconductor in the fourth quarter worth about $31,869,000. Finally, Intrinsic Edge Capital Management LLC raised its stake in Navitas Semiconductor by 91.6% in the fourth quarter. Intrinsic Edge Capital Management LLC now owns 2,717,692 shares of the company's stock worth $21,932,000 after buying an additional 1,299,524 shares in the last quarter. 46.14% of the stock is currently owned by hedge funds and other institutional investors.

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.