Navitas Semiconductor (NASDAQ:NVTS) Stock Price Up 6.1% - Here's What Happened

Key Points

• Navitas Semiconductor shares rose 6.1% on Thursday, trading as high as $14.53 after closing at $13.36 the prior day. Trading volume was below average, with about 15.6 million shares changing hands.
• Analysts remain mixed on the stock, though several recently lifted their price targets. The current consensus rating is Hold, with a consensus price target of $14.74.
• The company recently beat earnings expectations by a small margin, reporting a loss of $0.04 per share versus the expected $0.05 loss. Revenue came in at $8.6 million, but was still down 38.7% year over year.

Shares of Navitas Semiconductor Corporation (NASDAQ:NVTS - Get Free Report) shot up 6.1% on Thursday . The stock traded as high as $14.53 and last traded at $14.18. Approximately 15,623,001 shares changed hands during trading, a decline of 44% from the average session volume of 28,122,234 shares. The stock had previously closed at $13.36.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Wall Street Zen raised Navitas Semiconductor from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. Rosenblatt Securities upped their price target on Navitas Semiconductor from $7.00 to $13.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 6th. Needham & Company LLC raised 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. Weiss Ratings upgraded shares of Navitas Semiconductor from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday, June 17th. Finally, Morgan Stanley reissued an "underweight" rating and issued a $13.70 price objective on shares of Navitas Semiconductor in a research report on Wednesday, May 6th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $14.74.

Navitas Semiconductor Stock Performance

The company has a fifty day moving average price of $21.44 and a two-hundred day moving average price of $13.77. The company has a market cap of $3.31 billion, a P/E ratio of -22.51 and a beta of 3.82.

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. 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 for the quarter, compared to analyst estimates of $8.22 million. During the same quarter in the prior year, the company posted ($0.06) earnings per share. Navitas Semiconductor's revenue was down 38.7% on a year-over-year basis. Research analysts anticipate that Navitas Semiconductor Corporation will post -0.39 EPS for the current year.

Insider Buying and Selling

In related news, Director Gary Kent Wunderlich, Jr. sold 73,000 shares of the firm's stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $28.11, for a total value of $2,052,030.00. Following the completion of the transaction, the director directly owned 13,964 shares of the company's stock, valued at approximately $392,528.04. This trade represents a 83.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ranbir Singh sold 3,060,118 shares of the company's stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $29.29, for a total transaction of $89,630,856.22. Following the sale, the director directly owned 15,607,533 shares in the company, valued at $457,144,641.57. This trade represents a 16.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 3,989,478 shares of company stock worth $116,356,387 over the last 90 days. Company insiders own 12.40% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of NVTS. Vanguard Group Inc. lifted its stake in Navitas Semiconductor by 10.0% in the 4th quarter. Vanguard Group Inc. now owns 14,691,351 shares of the company's stock valued at $104,896,000 after purchasing an additional 1,330,703 shares during the last quarter. State Street Corp increased its position in Navitas Semiconductor by 18.0% during the fourth quarter. State Street Corp now owns 8,597,950 shares of the company's stock worth $61,389,000 after buying an additional 1,308,626 shares during the last quarter. Invesco Ltd. raised its stake in Navitas Semiconductor by 257.8% in the fourth 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 during the period. Geode Capital Management LLC lifted its position in shares of Navitas Semiconductor by 12.8% in the fourth 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 during the last quarter. Finally, UBS Group AG boosted its stake in shares of Navitas Semiconductor by 131.0% during the 4th quarter. UBS Group AG now owns 3,307,036 shares of the company's stock worth $23,612,000 after acquiring an additional 1,875,228 shares during the period. 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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