Navitas Semiconductor (NASDAQ:NVTS) Shares Up 9.2%

Navitas Semiconductor Co. (NASDAQ:NVTS - Get Free Report)'s share price was up 9.2% on Wednesday . The stock traded as high as $4.17 and last traded at $4.14. Approximately 767,909 shares traded hands during trading, a decline of 73% from the average daily volume of 2,891,320 shares. The stock had previously closed at $3.79.

Wall Street Analyst Weigh In

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

Navitas Semiconductor Price Performance

The stock's fifty day simple moving average is $4.92 and its 200-day simple moving average is $6.05. The stock has a market cap of $740.30 million, a P/E ratio of -4.69 and a beta of 2.54.

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

Insiders Place Their Bets

In other news, COO Daniel M. Kinzer sold 24,073 shares of Navitas Semiconductor stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $4.80, for a total transaction of $115,550.40. Following the sale, the chief operating officer now owns 4,538,353 shares of the company's stock, valued at $21,784,094.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Eugene Sheridan sold 38,431 shares of Navitas Semiconductor stock in a transaction that occurred 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 sale, the chief executive officer now owns 3,061,631 shares of the company's stock, valued at $14,695,828.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Daniel M. Kinzer sold 24,073 shares of Navitas Semiconductor stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $4.80, for a total value of $115,550.40. Following the sale, the chief operating officer now directly owns 4,538,353 shares in the company, valued at approximately $21,784,094.40. The disclosure for this sale can be found here. Insiders have sold 73,429 shares of company stock valued at $352,459 over the last quarter. Insiders own 36.80% of the company's stock.

Institutional Investors Weigh In On Navitas Semiconductor

Hedge funds have recently made changes to their positions in the business. 180 Wealth Advisors LLC raised its holdings in Navitas Semiconductor by 91.2% during the first quarter. 180 Wealth Advisors LLC now owns 32,158 shares of the company's stock worth $153,000 after purchasing an additional 15,335 shares in the last quarter. Penn Capital Management Company LLC raised its holdings in Navitas Semiconductor by 9.0% during the fourth quarter. Penn Capital Management Company LLC now owns 1,360,204 shares of the company's stock worth $10,992,000 after purchasing an additional 112,551 shares in the last quarter. G2 Investment Partners Management LLC bought a new stake in Navitas Semiconductor during the fourth quarter worth approximately $574,000. Masters Capital Management LLC raised its holdings in Navitas Semiconductor by 55.3% during the fourth quarter. Masters Capital Management LLC now owns 1,700,000 shares of the company's stock worth $13,719,000 after purchasing an additional 605,000 shares in the last quarter. Finally, Intrinsic Edge Capital Management LLC raised its holdings in Navitas Semiconductor by 91.6% during the fourth quarter. Intrinsic Edge Capital Management LLC now owns 2,717,692 shares of the company's stock worth $21,932,000 after purchasing an additional 1,299,524 shares in the last quarter. Institutional investors own 46.14% of the company's stock.

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.