Navitas Semiconductor (NASDAQ:NVTS) Trading 7.9% Higher - Still a Buy?

Navitas Semiconductor Co. (NASDAQ:NVTS - Get Free Report) traded up 7.9% during mid-day trading on Tuesday . The company traded as high as $8.28 and last traded at $7.88. 58,120,512 shares were traded during trading, an increase of 495% from the average session volume of 9,761,060 shares. The stock had previously closed at $7.30.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Needham & Company LLC reduced their price objective on shares of Navitas Semiconductor from $4.00 to $3.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. Morgan Stanley cut shares of Navitas Semiconductor from an "equal weight" rating to an "underweight" rating and reduced their price objective for the company from $2.10 to $1.50 in a report on Monday, April 7th. Rosenblatt Securities lifted their price objective on shares of Navitas Semiconductor from $4.00 to $6.00 and gave the company a "buy" rating in a report on Thursday, May 22nd. Finally, Robert W. Baird cut their price target on shares of Navitas Semiconductor from $5.00 to $4.00 and set an "outperform" rating on the stock in a report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $3.79.

Navitas Semiconductor Price Performance

The stock has a market capitalization of $1.53 billion, a PE ratio of -18.95 and a beta of 2.96. The stock's 50 day simple moving average is $3.03 and its two-hundred day simple moving average is $3.02.

Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The company reported ($0.06) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.06). The company had revenue of $14.02 million for the quarter, compared to analyst estimates of $14.01 million. Navitas Semiconductor had a negative net margin of 84.61% and a negative return on equity of 23.64%. The company's quarterly revenue was down 39.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.06) earnings per share. As a group, equities research analysts predict that Navitas Semiconductor Co. will post -0.51 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Ranbir Singh sold 16,377 shares of Navitas Semiconductor stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $6.43, for a total value of $105,304.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Sicpower, Llc sold 8,500 shares of Navitas Semiconductor stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $6.53, for a total value of $55,505.00. Following the transaction, the insider now directly owns 24,874,661 shares in the company, valued at approximately $162,431,536.33. The trade was a 0.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,556,933 shares of company stock worth $56,300,020. Insiders own 29.90% of the company's stock.

Institutional Trading of Navitas Semiconductor

A number of large investors have recently added to or reduced their stakes in the company. Compass Capital Corp MA ADV bought a new position in shares of Navitas Semiconductor in the 4th quarter valued at about $553,000. Edge Capital Group LLC purchased a new stake in Navitas Semiconductor during the 4th quarter valued at $987,000. Bank of New York Mellon Corp raised its holdings in Navitas Semiconductor by 27.6% during the 4th quarter. Bank of New York Mellon Corp now owns 498,713 shares of the company's stock valued at $1,780,000 after buying an additional 107,828 shares during the period. SBI Securities Co. Ltd. purchased a new stake in Navitas Semiconductor during the 4th quarter valued at $66,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in Navitas Semiconductor by 7.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,046,750 shares of the company's stock valued at $3,737,000 after buying an additional 76,870 shares during the period. 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.