Navitas Semiconductor (NASDAQ:NVTS) Stock Price Up 5.3% - Should You Buy?

Navitas Semiconductor Co. (NASDAQ:NVTS - Get Free Report)'s share price traded up 5.3% during trading on Friday . The company traded as high as $6.60 and last traded at $6.37. 20,036,329 shares traded hands during trading, an increase of 124% from the average session volume of 8,927,987 shares. The stock had previously closed at $6.05.

Wall Street Analyst Weigh In

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

Navitas Semiconductor Price Performance

The firm has a 50 day moving average of $2.79 and a two-hundred day moving average of $2.94. The stock has a market cap of $1.19 billion, a PE ratio of -14.71 and a beta of 2.96.

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

Insider Buying and Selling

In other Navitas Semiconductor news, CEO Eugene Sheridan sold 2,155,783 shares of the business's stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $4.49, for a total value of $9,679,465.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ranbir Singh sold 16,377 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $6.43, for a total value of $105,304.11. The disclosure for this sale can be found here. Insiders sold a total of 9,531,933 shares of company stock worth $56,140,270 over the last 90 days. 29.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Navitas Semiconductor

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Navitas Semiconductor by 1.3% in the first quarter. Vanguard Group Inc. now owns 9,997,486 shares of the company's stock valued at $20,495,000 after buying an additional 123,598 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Navitas Semiconductor by 3.8% during the fourth quarter. Geode Capital Management LLC now owns 3,081,916 shares of the company's stock worth $11,005,000 after purchasing an additional 113,277 shares during the last quarter. Invesco Ltd. raised its stake in shares of Navitas Semiconductor by 22.2% during the first quarter. Invesco Ltd. now owns 1,829,803 shares of the company's stock worth $3,751,000 after purchasing an additional 331,832 shares during the last quarter. Bank of America Corp DE raised its stake in shares of Navitas Semiconductor by 180.5% during the fourth quarter. Bank of America Corp DE now owns 1,234,375 shares of the company's stock worth $4,407,000 after purchasing an additional 794,371 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of Navitas Semiconductor by 9.5% during the fourth quarter. Northern Trust Corp now owns 1,209,761 shares of the company's stock worth $4,319,000 after purchasing an additional 104,906 shares during the last quarter. Hedge funds and other institutional investors own 46.14% of the company's stock.

About Navitas Semiconductor

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.