Navitas Semiconductor (NASDAQ:NVTS) Reaches New 52-Week High - Should You Buy?

Shares of Navitas Semiconductor Co. (NASDAQ:NVTS - Get Free Report) hit a new 52-week high on Tuesday . The stock traded as high as $7.88 and last traded at $7.30, with a volume of 126703041 shares changing hands. The stock had previously closed at $6.18.

Analyst Upgrades and Downgrades

NVTS has been the topic of several recent research reports. Needham & Company LLC reduced their price target on Navitas Semiconductor from $4.00 to $3.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Rosenblatt Securities raised their target price on shares of Navitas Semiconductor from $4.00 to $6.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. Robert W. Baird decreased their target price on shares of Navitas Semiconductor from $5.00 to $4.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 5th. Finally, Morgan Stanley cut shares of Navitas Semiconductor from an "equal weight" rating to an "underweight" rating and dropped their price target for the company from $2.10 to $1.50 in a research report on Monday, April 7th. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to MarketBeat.com, Navitas Semiconductor currently has a consensus rating of "Moderate Buy" and an average target price of $3.79.

Navitas Semiconductor Stock Up 10.8%

The business has a fifty day moving average of $2.90 and a 200 day moving average of $2.99. The company has a market cap of $1.55 billion, a P/E ratio of -19.26 and a beta of 2.96.

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 for the quarter, hitting the consensus estimate of ($0.06). The company had revenue of $14.02 million for the quarter, compared to analysts' expectations of $14.01 million. Navitas Semiconductor had a negative return on equity of 23.64% and a negative net margin of 84.61%. The firm's revenue for the quarter was down 39.7% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.06) earnings per share. On average, sell-side analysts anticipate that Navitas Semiconductor Co. will post -0.51 EPS for the current fiscal year.

Insider Transactions at Navitas Semiconductor

In other news, Director Ranbir Singh sold 16,377 shares of the business's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $6.43, for a total value of $105,304.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Brian Long sold 47,189 shares of the company's stock in a transaction on Friday, March 21st. The shares were sold at an average price of $2.36, for a total value of $111,366.04. Following the transaction, the director now directly owns 31,460 shares in the company, valued at approximately $74,245.60. The trade was a 60.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,531,933 shares of company stock valued at $56,140,270 in the last ninety days. 29.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Navitas Semiconductor

Several large investors have recently bought and sold shares of the business. Bank of America Corp DE boosted its holdings in shares of Navitas Semiconductor by 180.5% during the 4th quarter. Bank of America Corp DE now owns 1,234,375 shares of the company's stock valued at $4,407,000 after acquiring an additional 794,371 shares during the last quarter. Invesco Ltd. lifted its position in Navitas Semiconductor by 22.2% during the first quarter. Invesco Ltd. now owns 1,829,803 shares of the company's stock valued at $3,751,000 after purchasing an additional 331,832 shares during the period. Nuveen LLC bought a new position in Navitas Semiconductor during the first quarter valued at approximately $675,000. Susquehanna Fundamental Investments LLC purchased a new stake in Navitas Semiconductor in the fourth quarter worth approximately $1,170,000. Finally, Edge Capital Group LLC bought a new stake in Navitas Semiconductor in the 4th quarter worth approximately $987,000. 46.14% of the stock is currently owned by 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.