Navitas Semiconductor (NASDAQ:NVTS) Shares Up 1.5% - Here's What Happened

Key Points

• Navitas Semiconductor shares rose 1.5% on Monday, with trading volume running above average as the stock briefly touched $26.18 before closing at $23.73.
• Recent analyst activity was mixed: Needham raised its price target to $21 and kept a Buy rating, while other firms maintained cautious stances. Overall, MarketBeat shows a consensus Hold rating with an average target price of $12.87.
• The company recently beat earnings and revenue estimates, but results still showed weak fundamentals with revenue down 38.7% year over year and a negative quarterly EPS. Insider selling has also been notable, with directors selling millions of shares over the past 90 days.

Navitas Semiconductor Corporation (NASDAQ:NVTS - Get Free Report) shot up 1.5% during trading on Monday . The stock traded as high as $26.18 and last traded at $23.73. 35,710,217 shares were traded during trading, an increase of 23% from the average session volume of 29,135,602 shares. The stock had previously closed at $23.39.

Analyst Upgrades and Downgrades

Several research firms have recently commented on NVTS. Weiss Ratings lowered shares of Navitas Semiconductor from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Tuesday, June 2nd. Needham & Company LLC upped their price target on shares of Navitas Semiconductor from $13.00 to $21.00 and gave the company a "buy" rating in a research report on Wednesday, May 6th. Morgan Stanley reaffirmed an "underweight" rating and set a $13.70 price target on shares of Navitas Semiconductor in a research report on Wednesday, May 6th. Rosenblatt Securities increased their target price on shares of Navitas Semiconductor from $7.00 to $13.00 and gave the stock a "neutral" rating in a report on Wednesday, May 6th. Finally, Wall Street Zen raised shares of Navitas Semiconductor from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. Two analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $12.87.

Navitas Semiconductor Stock Performance

The company's fifty day moving average is $19.06 and its 200-day moving average is $12.47. The company has a market capitalization of $5.55 billion, a PE ratio of -37.67 and a beta of 3.75.

Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last released its earnings results on Tuesday, May 5th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.01. The company 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 firm's quarterly revenue was down 38.7% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.06) EPS. On average, sell-side analysts expect that Navitas Semiconductor Corporation will post -0.39 EPS for the current fiscal year.

Insider Buying and Selling at Navitas Semiconductor

In other Navitas Semiconductor news, Director Gary Kent Wunderlich, Jr. sold 35,165 shares of the stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $28.14, for a total transaction of $989,543.10. Following the completion of the sale, the director directly owned 2,375,060 shares of the company's stock, valued at $66,834,188.40. This trade represents a 1.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ranbir Singh sold 664,058 shares of the stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $28.72, for a total transaction of $19,071,745.76. Following the sale, the director directly owned 14,943,475 shares of the company's stock, valued at approximately $429,176,602. This trade represents a 4.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 4,087,630 shares of company stock worth $117,414,466. Insiders own 12.40% of the company's stock.

Institutional Investors Weigh In On Navitas Semiconductor

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Navitas Semiconductor by 10.0% during the 4th quarter. Vanguard Group Inc. now owns 14,691,351 shares of the company's stock valued at $104,896,000 after buying an additional 1,330,703 shares in the last quarter. State Street Corp grew its holdings in Navitas Semiconductor by 18.0% during the 4th quarter. State Street Corp now owns 8,597,950 shares of the company's stock valued at $61,389,000 after buying an additional 1,308,626 shares in the last quarter. Invesco Ltd. grew its holdings in Navitas Semiconductor by 257.8% during the 4th quarter. Invesco Ltd. now owns 4,737,624 shares of the company's stock valued at $33,827,000 after buying an additional 3,413,394 shares in the last quarter. Geode Capital Management LLC grew its holdings in Navitas Semiconductor by 12.8% during the 4th quarter. Geode Capital Management LLC now owns 4,417,408 shares of the company's stock valued at $31,546,000 after buying an additional 501,110 shares in the last quarter. Finally, UBS Group AG grew its holdings in Navitas Semiconductor by 131.0% during the 4th quarter. UBS Group AG now owns 3,307,036 shares of the company's stock valued at $23,612,000 after buying an additional 1,875,228 shares in the last quarter. 46.14% of the stock is owned by hedge funds and other institutional investors.

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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