Navitas Semiconductor (NASDAQ:NVTS) Trading Up 1% - Time to Buy?

Key Points

• Navitas Semiconductor shares rose 1% on Tuesday, trading between $17.74 and $18.28 on lighter-than-average volume of about 14.97 million shares.
• Recent analyst actions were mixed, but the stock’s overall Wall Street view remains Hold. The consensus price target is $14.74, with Needham the most bullish at $21.
• The company beat quarterly EPS and revenue expectations, but fundamentals remain weak: revenue fell 38.7% year over year, and analysts expect -0.39 EPS for the current fiscal year.

Navitas Semiconductor Corporation (NASDAQ:NVTS - Get Free Report)'s share price was up 1% during trading on Tuesday . The company traded as high as $18.28 and last traded at $17.92. Approximately 14,967,893 shares traded hands during trading, a decline of 48% from the average daily volume of 28,606,736 shares. The stock had previously closed at $17.74.

Analyst Ratings Changes

Several brokerages have recently weighed in on NVTS. Weiss Ratings raised shares of Navitas Semiconductor from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday, June 17th. Needham & Company LLC increased their price target on shares of Navitas Semiconductor from $13.00 to $21.00 and gave the stock a "buy" rating in a 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. Morgan Stanley reaffirmed an "underweight" rating and issued a $13.70 price objective on shares of Navitas Semiconductor in a report on Wednesday, May 6th. Finally, Rosenblatt Securities boosted their target price on Navitas Semiconductor from $7.00 to $13.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $14.74.

Navitas Semiconductor Stock Up 1.0%

The business has a fifty day simple moving average of $21.59 and a 200 day simple moving average of $13.43. The company has a market cap of $4.19 billion, a price-to-earnings ratio of -28.44 and a beta of 3.75.

Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.04) earnings per share for the quarter, topping analysts' consensus estimates of ($0.05) by $0.01. The business had revenue of $8.60 million for the quarter, compared to analysts' expectations of $8.22 million. Navitas Semiconductor had a negative net margin of 330.67% and a negative return on equity of 14.30%. The business's revenue for the quarter was down 38.7% on a year-over-year basis. During the same period in the prior year, the company posted ($0.06) EPS. Equities analysts anticipate that Navitas Semiconductor Corporation will post -0.39 EPS for the current fiscal year.

Insider Activity at Navitas Semiconductor

In other Navitas Semiconductor news, Director Gary Kent Wunderlich, Jr. sold 35,165 shares of the company's stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $28.14, for a total transaction of $989,543.10. Following the transaction, the director directly owned 2,375,060 shares in the company, valued at approximately $66,834,188.40. This represents a 1.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Richard J. Hendrix sold 110,165 shares of the stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $28.96, for a total transaction of $3,190,378.40. Following the completion of the transaction, the director directly owned 101,709 shares of the company's stock, valued at approximately $2,945,492.64. This trade represents a 52.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 3,989,478 shares of company stock worth $116,356,387 in the last ninety days. Corporate insiders own 12.40% of the company's stock.

Hedge Funds Weigh In On Navitas Semiconductor

Several hedge funds have recently bought and sold shares of NVTS. Bank of America Corp DE boosted its position in Navitas Semiconductor by 17.2% during the first quarter. Bank of America Corp DE now owns 826,674 shares of the company's stock worth $7,250,000 after purchasing an additional 121,162 shares in the last quarter. Arkadios Wealth Advisors acquired a new stake in Navitas Semiconductor in the first quarter valued at $123,000. California State Teachers Retirement System increased its position in shares of Navitas Semiconductor by 39.8% in the first quarter. California State Teachers Retirement System now owns 227,220 shares of the company's stock valued at $1,993,000 after buying an additional 64,643 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Navitas Semiconductor by 12.5% in the first quarter. The Manufacturers Life Insurance Company now owns 93,115 shares of the company's stock valued at $817,000 after buying an additional 10,323 shares in the last quarter. Finally, Quantinno Capital Management LP acquired a new position in shares of Navitas Semiconductor during the 1st quarter worth $160,000. 46.14% of the stock is owned by hedge funds and other institutional investors.

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.

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