Navitas Semiconductor (NASDAQ:NVTS) Sets New 52-Week High - Still a Buy?

Key Points

• Navitas Semiconductor hit a new 52-week high, trading as high as $21.48 after closing previously at $18.20, on unusually heavy volume of more than 10.3 million shares.
• Analyst sentiment is mixed: several firms raised price targets, including Needham to $21 and Baird to $20, but the overall consensus remains Hold with an average target price of $12.87.
• The company recently beat quarterly EPS and revenue estimates, but sales still fell 38.7% year over year; insiders also sold shares in recent months, while institutional ownership stands at 46.14%.

Navitas Semiconductor Corporation (NASDAQ:NVTS - Get Free Report) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $21.48 and last traded at $21.7590, with a volume of 10306617 shares traded. The stock had previously closed at $18.20.

Analysts Set New Price Targets

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

Navitas Semiconductor Price Performance

The stock has a market cap of $5.12 billion, a PE ratio of -35.00 and a beta of 3.62. The business has a 50 day moving average price of $11.11 and a two-hundred day moving average price of $9.96.

Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last released 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. Navitas Semiconductor had a negative return on equity of 14.30% and a negative net margin of 330.67%.The firm had revenue of $8.60 million during the quarter, compared to analyst estimates of $8.22 million. During the same quarter in the prior year, the firm posted ($0.06) earnings per share. The business's quarterly revenue was down 38.7% compared to the same quarter last year. On average, sell-side analysts forecast that Navitas Semiconductor Corporation will post -0.26 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Todd Glickman sold 98,152 shares of the firm's stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $10.78, for a total value of $1,058,078.56. Following the completion of the sale, the chief financial officer owned 735,231 shares of the company's stock, valued at $7,925,790.18. This trade represents a 11.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ranbir Singh sold 389,096 shares of the firm's stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $9.52, for a total value of $3,704,193.92. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 509,016 shares of company stock valued at $4,967,814 over the last quarter. 29.90% of the stock is owned by company insiders.

Institutional Trading of Navitas Semiconductor

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Allworth Financial LP lifted its stake in Navitas Semiconductor by 309.4% in the third quarter. Allworth Financial LP now owns 3,570 shares of the company's stock worth $26,000 after acquiring an additional 2,698 shares during the period. Geneos Wealth Management Inc. lifted its stake in Navitas Semiconductor by 3,200.0% in the first quarter. Geneos Wealth Management Inc. now owns 4,125 shares of the company's stock worth $36,000 after acquiring an additional 4,000 shares during the period. NewEdge Advisors LLC lifted its stake in Navitas Semiconductor by 189.8% in the second quarter. NewEdge Advisors LLC now owns 4,492 shares of the company's stock worth $29,000 after acquiring an additional 2,942 shares during the period. CWM LLC lifted its stake in Navitas Semiconductor by 24.7% in the third quarter. CWM LLC now owns 4,515 shares of the company's stock worth $33,000 after acquiring an additional 893 shares during the period. Finally, GAMMA Investing LLC lifted its stake in Navitas Semiconductor by 116.5% in the fourth quarter. GAMMA Investing LLC now owns 4,736 shares of the company's stock worth $34,000 after acquiring an additional 2,548 shares during the period. Hedge funds and other institutional investors 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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