Navitas Semiconductor (NASDAQ:NVTS) Shares Up 1.7% - Here's What Happened

Key Points

• Navitas Semiconductor shares rose 1.7% on Tuesday, trading as high as $13.73 before ending around $13.09, with volume well below average.
• The stock has drawn mixed analyst sentiment: several firms kept or changed ratings around Hold/Underweight, while Needham raised its target to $21 and the consensus target is $14.74.
• Recent fundamentals remain uneven, as Navitas reported a smaller-than-expected quarterly loss but revenue still fell 38.7% year over year; insiders also sold a significant amount of stock over the past 90 days.

Navitas Semiconductor Corporation (NASDAQ:NVTS - Get Free Report) rose 1.7% on Tuesday . The stock traded as high as $13.73 and last traded at $13.09. 9,962,024 shares changed hands during mid-day trading, a decline of 64% from the average session volume of 27,738,516 shares. The stock had previously closed at $12.87.

Analyst Ratings Changes

NVTS has been the subject of several recent research reports. Morgan Stanley reaffirmed an "underweight" rating and issued a $13.70 price target on shares of Navitas Semiconductor in a report on Wednesday, May 6th. Rosenblatt Securities boosted their price objective on Navitas Semiconductor from $7.00 to $13.00 and gave the company a "neutral" rating in a research report on Wednesday, May 6th. Wall Street Zen raised Navitas Semiconductor from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. Needham & Company LLC lifted their price target on shares of Navitas Semiconductor from $13.00 to $21.00 and gave the stock a "buy" rating in a research note on Wednesday, May 6th. Finally, Weiss Ratings raised shares of Navitas Semiconductor from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday, June 17th. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $14.74.

Navitas Semiconductor Trading Up 1.7%

The stock has a fifty day moving average price of $21.30 and a 200-day moving average price of $13.89. The firm has a market capitalization of $3.06 billion, a price-to-earnings ratio of -20.78 and a beta of 3.82.

Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last posted its earnings results on Tuesday, May 5th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate 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 business had revenue of $8.60 million during the quarter, compared to the consensus estimate of $8.22 million. During the same quarter last year, the company earned ($0.06) EPS. Navitas Semiconductor's revenue was down 38.7% on a year-over-year basis. On average, equities analysts expect that Navitas Semiconductor Corporation will post -0.39 EPS for the current year.

Insider Activity

In other news, Director Gary Kent Wunderlich, Jr. sold 35,165 shares of the company's stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $28.14, for a total value of $989,543.10. Following the sale, the director owned 2,375,060 shares of the company's stock, valued at approximately $66,834,188.40. This represents a 1.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Chris Allexandre sold 13,323 shares of the stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $31.81, for a total transaction of $423,804.63. Following the sale, the chief executive officer owned 1,072,633 shares of the company's stock, valued at $34,120,455.73. This trade represents a 1.23% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 3,989,478 shares of company stock worth $116,356,387 over the last 90 days. 12.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Beaird Harris Wealth Management LLC boosted its holdings in shares of Navitas Semiconductor by 247.8% in the 2nd quarter. Beaird Harris Wealth Management LLC now owns 1,739 shares of the company's stock worth $31,000 after acquiring an additional 1,239 shares in the last quarter. Bank of America Corp DE increased its holdings in Navitas Semiconductor by 17.2% during the 1st quarter. Bank of America Corp DE now owns 826,674 shares of the company's stock valued at $7,250,000 after purchasing an additional 121,162 shares in the last quarter. Arkadios Wealth Advisors acquired a new stake in Navitas Semiconductor during the 1st quarter valued at $123,000. California State Teachers Retirement System raised its position in Navitas Semiconductor by 39.8% in the 1st quarter. California State Teachers Retirement System now owns 227,220 shares of the company's stock valued at $1,993,000 after purchasing an additional 64,643 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in Navitas Semiconductor by 12.5% in the first quarter. The Manufacturers Life Insurance Company now owns 93,115 shares of the company's stock worth $817,000 after purchasing an additional 10,323 shares in the last quarter. Institutional investors own 46.14% of the company's stock.

About Navitas Semiconductor

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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