Navitas Semiconductor (NASDAQ:NVTS) Shares Gap Up – Still a Buy?

Navitas Semiconductor Corporation (NASDAQ:NVTS)’s share price gapped up before the market opened on Friday . The stock had previously closed at $7.14, but opened at $7.50. Navitas Semiconductor shares last traded at $7.97, with a volume of 2,732,795 shares trading hands.

Analyst Upgrades and Downgrades

NVTS has been the subject of a number of recent research reports. Needham & Company LLC lifted their price objective on shares of Navitas Semiconductor from $8.00 to $13.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Navitas Semiconductor in a research report on Wednesday, October 8th. Jefferies Financial Group raised Navitas Semiconductor to a “hold” rating in a research note on Tuesday, October 28th. Finally, Rosenblatt Securities restated a “neutral” rating and set a $8.00 price objective on shares of Navitas Semiconductor in a research report on Monday, November 10th. Two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Navitas Semiconductor presently has an average rating of “Hold” and a consensus price target of $6.48.

Navitas Semiconductor Trading Up 17.4%

The company has a market capitalization of $1.93 billion, a PE ratio of -13.09 and a beta of 3.16. The stock’s 50-day moving average is $8.85 and its two-hundred day moving average is $8.04.

Navitas Semiconductor (NASDAQ:NVTS) last released its earnings results on Monday, November 3rd. The company reported ($0.05) EPS for the quarter, meeting analysts’ consensus estimates of ($0.05). Navitas Semiconductor had a negative return on equity of 14.86% and a negative net margin of 220.85%.The firm had revenue of $10.11 million for the quarter, compared to analysts’ expectations of $10.00 million. During the same quarter in the prior year, the firm posted ($0.10) earnings per share. The company’s quarterly revenue was down 53.4% on a year-over-year basis. On average, equities research analysts forecast that Navitas Semiconductor Corporation will post -0.51 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Ranbir Singh sold 179,354 shares of Navitas Semiconductor stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $8.68, for a total transaction of $1,556,792.72. Following the completion of the sale, the director owned 389,096 shares in the company, valued at $3,377,353.28. This trade represents a 31.55% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Brian Long sold 48,165 shares of the business’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $8.50, for a total transaction of $409,402.50. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 3,426,898 shares of company stock valued at $29,360,063. Insiders own 29.90% of the company’s stock.

Hedge Funds Weigh In On Navitas Semiconductor

Institutional investors have recently modified their holdings of the stock. Cranbrook Wealth Management LLC purchased a new stake in shares of Navitas Semiconductor in the second quarter valued at approximately $25,000. Allworth Financial LP raised its position in Navitas Semiconductor by 309.4% during the 3rd quarter. Allworth Financial LP now owns 3,570 shares of the company’s stock valued at $26,000 after purchasing an additional 2,698 shares in the last quarter. NewEdge Advisors LLC raised its position in Navitas Semiconductor by 189.8% during the 2nd quarter. NewEdge Advisors LLC now owns 4,492 shares of the company’s stock valued at $29,000 after purchasing an additional 2,942 shares in the last quarter. ST Germain D J Co. Inc. purchased a new stake in shares of Navitas Semiconductor in the 2nd quarter worth approximately $33,000. Finally, CWM LLC boosted its position in Navitas Semiconductor by 24.7% during the third quarter. CWM LLC now owns 4,515 shares of the company’s stock valued at $33,000 after purchasing an additional 893 shares in 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.