Navitas Semiconductor (NASDAQ:NVTS) Trading Up 4.1% - Here's Why

Key Points

• Navitas Semiconductor shares rose 4.1% in Tuesday trading, reaching as high as $25.52 and last changing hands near $25.88 on heavy volume, though still below the day’s peak.
• Analysts have recently raised price targets across several firms, including Needham and Baird, but the stock’s overall consensus remains Hold with an average target of $12.87.
• The company’s latest earnings showed a small EPS beat and slightly higher-than-expected revenue, but revenue still fell 38.7% year over year; meanwhile, insiders have sold a significant amount of stock over the last 90 days.

Navitas Semiconductor Corporation (NASDAQ:NVTS - Get Free Report)'s stock price traded up 4.1% during trading on Tuesday . The stock traded as high as $25.52 and last traded at $25.8760. 24,880,539 shares were traded during mid-day trading, a decline of 30% from the average session volume of 35,491,256 shares. The stock had previously closed at $24.86.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Needham & Company LLC increased their target price on Navitas Semiconductor from $13.00 to $21.00 and gave the company a "buy" rating in a report on Wednesday, May 6th. Weiss Ratings reissued a "sell (d-)" rating on shares of Navitas Semiconductor in a report on Tuesday, April 21st. Robert W. Baird increased their target price on Navitas Semiconductor from $9.00 to $20.00 and gave the company an "outperform" rating in a report on Monday, May 4th. Morgan Stanley reissued an "underweight" rating and issued a $13.70 target price on shares of Navitas Semiconductor in a report on Wednesday, May 6th. Finally, Rosenblatt Securities increased their target price on Navitas Semiconductor from $7.00 to $13.00 and gave the company a "neutral" rating in a report on Wednesday, May 6th. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $12.87.

Navitas Semiconductor Price Performance

The company has a market cap of $6.04 billion, a price-to-earnings ratio of -41.05 and a beta of 3.75. The firm's 50 day simple moving average is $16.12 and its 200-day simple moving average is $11.38.

Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.04) earnings per share (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 the consensus estimate of $8.22 million. During the same quarter in the prior year, the firm posted ($0.06) earnings per share. Navitas Semiconductor's revenue for the quarter was down 38.7% on a year-over-year basis. On average, analysts forecast that Navitas Semiconductor Corporation will post -0.39 EPS for the current year.

Insider Buying and Selling

In other Navitas Semiconductor news, CEO Chris Allexandre sold 13,323 shares of the company's stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $31.81, for a total value of $423,804.63. Following the completion of the transaction, the chief executive officer owned 1,072,633 shares in the company, valued at $34,120,455.73. This represents a 1.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Richard J. Hendrix sold 110,165 shares of the company's stock in a transaction on 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 owned 101,709 shares of the company's stock, valued at $2,945,492.64. This represents a 52.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 4,087,630 shares of company stock valued at $117,414,466 over the last ninety days. Company insiders own 12.40% of the company's stock.

Institutional Investors Weigh In On Navitas Semiconductor

A number of institutional investors and hedge funds have recently made changes to their positions in NVTS. Allworth Financial LP raised its holdings 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 last quarter. NewEdge Advisors LLC raised its holdings 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 last quarter. GAMMA Investing LLC raised its holdings in shares of Navitas Semiconductor by 116.5% in the fourth quarter. GAMMA Investing LLC now owns 4,736 shares of the company's stock valued at $34,000 after buying an additional 2,548 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of Navitas Semiconductor by 3,200.0% in the first quarter. Geneos Wealth Management Inc. now owns 4,125 shares of the company's stock valued at $36,000 after buying an additional 4,000 shares during the last quarter. Finally, State of Wyoming raised its holdings in shares of Navitas Semiconductor by 92.8% in the first quarter. State of Wyoming now owns 4,803 shares of the company's stock valued at $42,000 after buying an additional 2,312 shares during the last quarter. 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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