Navitas Semiconductor (NASDAQ:NVTS) Stock Price Up 6% - Time to Buy?

Key Points

• Navitas Semiconductor shares rose 6% in midday trading, reaching as high as $25.20 on heavy volume that was about 36% above its daily average.
• Analysts remain mixed on the stock: the consensus rating is Hold with an average price target of $12.87, though Needham recently lifted its target to $21 and kept a Buy rating.
• The company’s latest earnings beat expectations slightly, but results were still weak overall, with revenue down 38.7% year over year and a projected full-year EPS loss of -0.39.

Navitas Semiconductor Corporation (NASDAQ:NVTS - Get Free Report)'s share price rose 6% during mid-day trading on Thursday . The stock traded as high as $25.20 and last traded at $24.38. Approximately 37,501,184 shares changed hands during trading, an increase of 36% from the average daily volume of 27,601,953 shares. The stock had previously closed at $22.99.

Analysts Set New Price Targets

Several equities research analysts have issued reports on NVTS shares. Morgan Stanley restated an "underweight" rating and set a $13.70 price objective on shares of Navitas Semiconductor in a research report on Wednesday, May 6th. Wall Street Zen upgraded shares of Navitas Semiconductor from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. Rosenblatt Securities lifted their price target on Navitas Semiconductor from $7.00 to $13.00 and gave the stock a "neutral" rating in a report on Wednesday, May 6th. Needham & Company LLC lifted their price target on Navitas Semiconductor from $13.00 to $21.00 and gave the stock a "buy" rating in a report on Wednesday, May 6th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Navitas Semiconductor in a report on Tuesday, April 21st. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Navitas Semiconductor currently has a consensus rating of "Hold" and an average target price of $12.87.

Navitas Semiconductor Stock Up 6.0%

The stock has a 50 day moving average of $13.21 and a 200 day moving average of $10.38. The firm has a market cap of $5.70 billion, a price-to-earnings ratio of -38.70 and a beta of 3.62.

Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last issued its earnings results on Tuesday, May 5th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.01. Navitas Semiconductor had a negative net margin of 330.67% and a negative return on equity of 14.30%. The company had revenue of $8.60 million during the quarter, compared to analysts' expectations of $8.22 million. During the same period in the previous year, the company earned ($0.06) EPS. The business's revenue for the quarter was down 38.7% compared to the same quarter last year. As a group, analysts predict that Navitas Semiconductor Corporation will post -0.39 EPS for the current fiscal year.

Insider Buying and Selling at Navitas Semiconductor

In other news, Director Ranbir Singh sold 389,096 shares of the business's stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $9.52, for a total transaction of $3,704,193.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Todd Glickman sold 98,152 shares of the company's stock in a transaction dated 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 transaction, the chief financial officer directly owned 735,231 shares of the company's stock, valued at approximately $7,925,790.18. The trade was 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 worth $4,967,814 over the last three months. Corporate insiders own 12.40% of the company's stock.

Institutional Trading of Navitas Semiconductor

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Allworth Financial LP increased its stake in shares of Navitas Semiconductor by 309.4% in the third quarter. Allworth Financial LP now owns 3,570 shares of the company's stock valued at $26,000 after buying an additional 2,698 shares during the period. NewEdge Advisors LLC increased its stake in shares of Navitas Semiconductor by 189.8% in the second quarter. NewEdge Advisors LLC now owns 4,492 shares of the company's stock valued at $29,000 after buying an additional 2,942 shares during the period. CWM LLC increased its stake in shares of Navitas Semiconductor by 24.7% in the third quarter. CWM LLC now owns 4,515 shares of the company's stock valued at $33,000 after buying an additional 893 shares during the period. GAMMA Investing LLC increased its position in Navitas Semiconductor by 116.5% during the 4th quarter. GAMMA Investing LLC now owns 4,736 shares of the company's stock valued at $34,000 after purchasing an additional 2,548 shares during the period. Finally, Geneos Wealth Management Inc. increased its position in Navitas Semiconductor by 3,200.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 4,125 shares of the company's stock valued at $36,000 after purchasing an additional 4,000 shares during the period. 46.14% of the stock is currently owned by institutional investors and hedge funds.

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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