Navitas Semiconductor (NASDAQ:NVTS) Stock Price Up 4.2% - Should You Buy?

Key Points

• Navitas Semiconductor's shares increased by 4.2%, reaching $7.64, despite a significant drop in trading volume, down by 58% from the average.
• Analysts have mixed opinions: while Rosenblatt Securities raised their price target to $6.00, Morgan Stanley downgraded it to $1.50.
• Insider transactions included a large purchase by Director Ranbir Singh of nearly 18.6 million shares, while CFO Todd Glickman sold 100,000 shares, indicating active insider trading.

Navitas Semiconductor Corporation (NASDAQ:NVTS - Get Free Report)'s share price was up 4.2% on Friday . The company traded as high as $7.58 and last traded at $7.64. Approximately 9,064,768 shares changed hands during mid-day trading, a decline of 58% from the average daily volume of 21,819,154 shares. The stock had previously closed at $7.33.

Analyst Upgrades and Downgrades

NVTS has been the topic of a number of research analyst reports. Needham & Company LLC dropped their target price on shares of Navitas Semiconductor from $4.00 to $3.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Morgan Stanley downgraded shares of Navitas Semiconductor from an "equal weight" rating to an "underweight" rating and dropped their target price for the stock from $2.10 to $1.50 in a research note on Monday, April 7th. Deutsche Bank Aktiengesellschaft downgraded shares of Navitas Semiconductor from a "buy" rating to a "hold" rating and set a $3.50 target price on the stock. in a research note on Tuesday, June 17th. Finally, Rosenblatt Securities upped their target price on shares of Navitas Semiconductor from $4.00 to $6.00 and gave the stock a "buy" rating in a research note on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Navitas Semiconductor presently has a consensus rating of "Moderate Buy" and an average target price of $3.71.

Navitas Semiconductor Trading Down 0.7%

The firm's 50-day moving average price is $6.85 and its two-hundred day moving average price is $3.98. The stock has a market cap of $1.52 billion, a PE ratio of -15.30 and a beta of 3.02.

Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last announced 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). Navitas Semiconductor had a negative net margin of 131.83% and a negative return on equity of 22.62%. The firm had revenue of $14.02 million during the quarter, compared to analysts' expectations of $14.01 million. During the same quarter in the prior year, the company earned ($0.06) EPS. The company's revenue was down 39.7% compared to the same quarter last year. On average, analysts anticipate that Navitas Semiconductor Corporation will post -0.51 earnings per share for the current year.

Insider Activity at Navitas Semiconductor

In other news, Director Ranbir Singh bought 18,645,603 shares of the firm's stock in a transaction that occurred on Monday, July 28th. The stock was bought at an average price of $8.79 per share, with a total value of $163,894,850.37. Following the completion of the transaction, the director directly owned 18,645,603 shares of the company's stock, valued at approximately $163,894,850.37. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard J. Hendrix sold 20,000 shares of the stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $8.12, for a total transaction of $162,400.00. Following the sale, the director directly owned 45,456 shares of the company's stock, valued at $369,102.72. The trade was a 30.55% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,084,600 shares of company stock valued at $99,761,157 over the last three months. Company insiders own 29.90% of the company's stock.

Institutional Investors Weigh In On Navitas Semiconductor

Hedge funds and other institutional investors have recently bought and sold shares of the company. Envestnet Asset Management Inc. purchased a new position in shares of Navitas Semiconductor in the second quarter worth $421,000. Nisa Investment Advisors LLC raised its holdings in shares of Navitas Semiconductor by 121.8% in the second quarter. Nisa Investment Advisors LLC now owns 11,614 shares of the company's stock worth $76,000 after buying an additional 6,377 shares during the last quarter. 180 Wealth Advisors LLC raised its holdings in shares of Navitas Semiconductor by 29.4% in the second quarter. 180 Wealth Advisors LLC now owns 126,269 shares of the company's stock worth $827,000 after buying an additional 28,667 shares during the last quarter. West Tower Group LLC purchased a new position in shares of Navitas Semiconductor in the second quarter worth $66,000. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in shares of Navitas Semiconductor by 63.3% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 45,533 shares of the company's stock worth $298,000 after buying an additional 17,653 shares during the last quarter. Hedge funds and other institutional investors own 46.14% of the company's stock.

Navitas Semiconductor Company Profile

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.