Traders Buy High Volume of Navitas Semiconductor Call Options (NASDAQ:NVTS)

Navitas Semiconductor Corporation (NASDAQ:NVTS - Get Free Report) was the recipient of some unusual options trading activity on Monday. Investors bought 26,822 call options on the stock. This represents an increase of 43% compared to the typical daily volume of 18,808 call options.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on NVTS shares. Morgan Stanley downgraded Navitas Semiconductor from an "equal weight" rating to an "underweight" rating and reduced their price target for the stock from $2.10 to $1.50 in a research report on Monday, April 7th. Deutsche Bank Aktiengesellschaft lowered Navitas Semiconductor from a "buy" rating to a "hold" rating and set a $3.50 price target on the stock. in a research note on Tuesday, June 17th. Needham & Company LLC reduced their price objective on Navitas Semiconductor from $4.00 to $3.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. Robert W. Baird cut their price target on Navitas Semiconductor from $5.00 to $4.00 and set an "outperform" rating for the company in a research note on Wednesday, March 5th. Finally, Rosenblatt Securities upped their target price on Navitas Semiconductor from $4.00 to $6.00 and gave the stock a "buy" rating in a research note on Thursday, May 22nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Navitas Semiconductor has an average rating of "Moderate Buy" and an average target price of $3.71.

Navitas Semiconductor Stock Performance

Shares of NASDAQ:NVTS traded up $0.74 during midday trading on Tuesday, hitting $7.26. The company's stock had a trading volume of 29,265,168 shares, compared to its average volume of 20,320,959. The company has a market cap of $1.39 billion, a P/E ratio of -13.95 and a beta of 2.95. Navitas Semiconductor has a 12-month low of $1.52 and a 12-month high of $9.17. The business's 50 day simple moving average is $4.00 and its 200 day simple moving average is $3.28.

Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last released its earnings results on Monday, May 5th. The company reported ($0.06) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.06). The business 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 131.83% and a negative return on equity of 22.62%. The business's revenue was down 39.7% on a year-over-year basis. During the same period last year, the company posted ($0.06) EPS. On average, sell-side analysts predict that Navitas Semiconductor will post -0.51 earnings per share for the current fiscal year.

Insider Activity

In other Navitas Semiconductor news, major shareholder Sicpower, Llc sold 8,500 shares of Navitas Semiconductor stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $6.53, for a total value of $55,505.00. Following the sale, 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director David Moxam sold 75,000 shares of the business's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $2.08, for a total value of $156,000.00. Following the completion of the sale, the director now owns 792,848 shares in the company, valued at $1,649,123.84. This represents a 8.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,084,600 shares of company stock worth $99,761,157 in the last three months. Company insiders own 29.90% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Goodman Financial Corp acquired a new position in shares of Navitas Semiconductor in the 4th quarter worth approximately $36,000. Caption Management LLC purchased a new stake in Navitas Semiconductor during the fourth quarter worth about $36,000. Tower Research Capital LLC TRC lifted its position in shares of Navitas Semiconductor by 125.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 10,294 shares of the company's stock worth $37,000 after purchasing an additional 5,726 shares in the last quarter. Steel Grove Capital Advisors LLC purchased a new position in shares of Navitas Semiconductor in the fourth quarter valued at approximately $39,000. Finally, Cibc World Markets Corp purchased a new position in Navitas Semiconductor in the 4th quarter valued at approximately $42,000. Hedge funds and other 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.