Navitas Semiconductor (NASDAQ:NVTS) Trading 13% Higher - Should You Buy?

Key Points

• Shares jumped 13% intraday to about $9.69 on Wednesday, but analysts maintain a consensus "Hold" rating with a consensus price target of $6.78.
• Latest quarter: EPS met estimates at ($0.05) but revenue plunged 59.4% YoY to $7.3M and the company reported a deeply negative net margin (‑254.7%); sell‑side forecasts a full‑year EPS of about ‑$0.51.
• Insiders have sold heavily recently (509,016 shares worth ~$4.97M in the last 90 days), though insiders still own 29.9% of shares and institutions hold about 46.1%.

Shares of Navitas Semiconductor Corporation (NASDAQ:NVTS - Get Free Report) were up 13% during trading on Wednesday . The stock traded as high as $9.72 and last traded at $9.6850. Approximately 10,424,566 shares changed hands during trading, a decline of 54% from the average daily volume of 22,791,412 shares. The stock had previously closed at $8.57.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of Navitas Semiconductor in a research note on Thursday, January 22nd. Rosenblatt Securities restated a "neutral" rating and set a $7.00 price target on shares of Navitas Semiconductor in a report on Thursday, March 12th. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Navitas Semiconductor presently has a consensus rating of "Hold" and a consensus price target of $6.78.

Navitas Semiconductor Stock Performance

The company has a market capitalization of $2.26 billion, a PE ratio of -17.18 and a beta of 3.15. The stock has a 50 day moving average price of $8.89 and a two-hundred day moving average price of $9.24.

Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last announced its quarterly earnings results on Tuesday, February 24th. The company reported ($0.05) EPS for the quarter, meeting the consensus estimate of ($0.05). The business had revenue of $7.30 million during the quarter, compared to analysts' expectations of $6.95 million. Navitas Semiconductor had a negative return on equity of 14.52% and a negative net margin of 254.71%.The firm's quarterly revenue was down 59.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.06) EPS. Sell-side analysts predict that Navitas Semiconductor Corporation will post -0.51 earnings per share for the current year.

Insider Transactions at Navitas Semiconductor

In other news, CEO Chris Allexandre sold 9,236 shares of the firm's stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $8.93, for a total transaction of $82,477.48. Following the transaction, the chief executive officer owned 813,323 shares in the company, valued at approximately $7,262,974.39. This trade represents a 1.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ranbir Singh sold 389,096 shares of Navitas Semiconductor stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $9.52, for a total transaction of $3,704,193.92. The SEC filing for this sale provides additional information. Insiders have sold a total of 509,016 shares of company stock worth $4,967,814 in the last 90 days. 29.90% of the stock is owned by insiders.

Institutional Trading of Navitas Semiconductor

A number of institutional investors and hedge funds have recently made changes to their positions in NVTS. Diversify Advisory Services LLC acquired a new stake in Navitas Semiconductor in the 3rd quarter worth approximately $960,000. JPMorgan Chase & Co. grew its holdings in Navitas Semiconductor by 1,742.4% during the second quarter. JPMorgan Chase & Co. now owns 1,428,386 shares of the company's stock valued at $9,356,000 after purchasing an additional 1,350,857 shares during the last quarter. Vanguard Group Inc. grew its holdings in Navitas Semiconductor by 23.6% during the third quarter. Vanguard Group Inc. now owns 13,360,648 shares of the company's stock valued at $96,464,000 after purchasing an additional 2,550,613 shares during the last quarter. Newbridge Financial Services Group Inc. raised its position in shares of Navitas Semiconductor by 1,425.5% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 132,874 shares of the company's stock valued at $949,000 after purchasing an additional 124,164 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Navitas Semiconductor in the third quarter valued at approximately $2,188,000. Institutional investors and hedge funds own 46.14% of the company's stock.

Navitas Semiconductor Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.