Navitas Semiconductor (NASDAQ:NVTS) Sets New 12-Month High - What's Next?

Key Points

• Navitas Semiconductor hit a new 52-week high, trading as high as $33.82 after closing at $29.25 the prior day, with very heavy volume of about 49.9 million shares.
• Analysts have recently raised price targets, but the stock’s overall view remains mixed: the consensus rating is still Hold with an average target price of $12.87, well below the current market price.
• The company’s latest earnings beat estimates on both EPS and revenue, though results still showed negative margins and 38.7% year-over-year revenue decline, while insiders sold shares and institutional investors continued to add modestly to positions.

Navitas Semiconductor Corporation (NASDAQ:NVTS - Get Free Report)'s stock price hit a new 52-week high on Wednesday . The stock traded as high as $33.82 and last traded at $31.79, with a volume of 49926138 shares trading hands. The stock had previously closed at $29.25.

Analysts Set New Price Targets

Several analysts have recently weighed in on NVTS shares. Robert W. Baird lifted their target price on shares of Navitas Semiconductor from $9.00 to $20.00 and gave the company an "outperform" rating in a report on Monday, May 4th. Needham & Company LLC lifted their target price on shares of Navitas Semiconductor from $13.00 to $21.00 and gave the company a "buy" rating in a report on Wednesday, May 6th. Wall Street Zen raised shares of Navitas Semiconductor from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Navitas Semiconductor in a report on Tuesday, April 21st. Finally, Rosenblatt Securities lifted their target price on shares of Navitas Semiconductor from $7.00 to $13.00 and gave the company a "neutral" rating in a report on Wednesday, May 6th. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $12.87.

Navitas Semiconductor Price Performance

The company has a market cap of $7.43 billion, a price-to-earnings ratio of -50.46 and a beta of 3.62. The business's 50-day simple moving average is $14.72 and its 200-day simple moving average is $10.87.

Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.04) earnings per share for the quarter, beating analysts' consensus estimates of ($0.05) by $0.01. The business had revenue of $8.60 million during the quarter, compared to analyst estimates of $8.22 million. Navitas Semiconductor had a negative net margin of 330.67% and a negative return on equity of 14.30%. The company's revenue was down 38.7% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.06) earnings per share. As a group, sell-side analysts forecast that Navitas Semiconductor Corporation will post -0.39 EPS for the current year.

Insider Activity

In other news, CEO Chris Allexandre sold 9,236 shares of the business's stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $8.93, for a total value of $82,477.48. Following the completion of the transaction, the chief executive officer owned 813,323 shares of the company's stock, valued at $7,262,974.39. The trade was a 1.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Todd Glickman sold 98,152 shares of the business's stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $10.78, for a total transaction of $1,058,078.56. Following the completion of the transaction, the chief financial officer directly owned 735,231 shares of the company's stock, valued at approximately $7,925,790.18. This represents a 11.78% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 509,016 shares of company stock valued at $4,967,814 over the last 90 days. Insiders own 12.40% of the company's stock.

Hedge Funds Weigh In On Navitas Semiconductor

A number of institutional investors have recently modified their holdings of the company. Prospera Financial Services Inc raised its position in shares of Navitas Semiconductor by 3.8% in the third quarter. Prospera Financial Services Inc now owns 30,285 shares of the company's stock valued at $219,000 after buying an additional 1,120 shares during the last quarter. Kestra Advisory Services LLC raised its position in shares of Navitas Semiconductor by 2.8% in the first quarter. Kestra Advisory Services LLC now owns 42,189 shares of the company's stock valued at $370,000 after buying an additional 1,150 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of Navitas Semiconductor by 12.6% in the fourth quarter. Russell Investments Group Ltd. now owns 13,476 shares of the company's stock valued at $96,000 after buying an additional 1,505 shares during the last quarter. Captrust Financial Advisors raised its position in shares of Navitas Semiconductor by 3.8% in the second quarter. Captrust Financial Advisors now owns 45,758 shares of the company's stock valued at $300,000 after buying an additional 1,667 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC grew its holdings in Navitas Semiconductor by 16.8% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 11,996 shares of the company's stock valued at $86,000 after purchasing an additional 1,725 shares during the period. Institutional investors and hedge funds own 46.14% of the company's stock.

Navitas Semiconductor Company Profile

Navitas Semiconductor is a fabless semiconductor company specialized in gallium nitride (GaN) power integrated circuits. The company’s core mission centers on delivering high-efficiency, high-power-density power solutions that address the needs of modern electronic devices, ranging from fast chargers for consumer electronics to industrial and automotive power systems.

Navitas offers a portfolio of GaNFast power ICs designed to replace traditional silicon-based power components. These products integrate GaN transistors, drivers and protection features into single-chip solutions, enabling faster charging, reduced energy loss and smaller power supply footprints.

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