Navitas Semiconductor (NASDAQ:NVTS) Stock Price Up 13.8% – Should You Buy?

Navitas Semiconductor Co. (NASDAQ:NVTS) shares rose 13.8% on Friday . The company traded as high as $2.89 and last traded at $2.80. Approximately 3,588,641 shares traded hands during trading, an increase of 30% from the average daily volume of 2,755,140 shares. The stock had previously closed at $2.46.

Analyst Upgrades and Downgrades

NVTS has been the subject of a number of recent research reports. Robert W. Baird cut their price target on Navitas Semiconductor from $7.00 to $5.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th. Needham & Company LLC lowered their price objective on Navitas Semiconductor from $7.00 to $5.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft lowered their price objective on Navitas Semiconductor from $6.00 to $4.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Rosenblatt Securities reissued a “buy” rating and set a $7.50 price objective on shares of Navitas Semiconductor in a report on Thursday, October 31st. Finally, Craig Hallum lowered their price objective on Navitas Semiconductor from $6.50 to $4.25 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $4.75.

Navitas Semiconductor Trading Up 11.8 %

The stock has a market cap of $513.70 million, a price-to-earnings ratio of -6.67 and a beta of 2.36. The stock has a fifty day simple moving average of $2.36 and a 200-day simple moving average of $3.19.

Navitas Semiconductor (NASDAQ:NVTS) last released its earnings results on Monday, November 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.06). The firm had revenue of $21.68 million for the quarter, compared to analyst estimates of $21.93 million. Navitas Semiconductor had a negative return on equity of 23.64% and a negative net margin of 84.61%. The company’s revenue was down 1.4% on a year-over-year basis. During the same quarter last year, the firm posted ($0.10) EPS. Sell-side analysts forecast that Navitas Semiconductor Co. will post -0.51 earnings per share for the current fiscal year.

Institutional Trading of Navitas Semiconductor

Several institutional investors have recently modified their holdings of the company. M&T Bank Corp grew its holdings in shares of Navitas Semiconductor by 29.6% during the 3rd quarter. M&T Bank Corp now owns 159,804 shares of the company’s stock worth $392,000 after purchasing an additional 36,504 shares in the last quarter. State Street Corp grew its holdings in shares of Navitas Semiconductor by 4.0% during the 3rd quarter. State Street Corp now owns 5,826,638 shares of the company’s stock worth $14,275,000 after purchasing an additional 221,575 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Navitas Semiconductor during the 3rd quarter worth approximately $172,000. Point72 Asset Management L.P. grew its holdings in shares of Navitas Semiconductor by 87.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 8,031,474 shares of the company’s stock worth $19,677,000 after purchasing an additional 3,748,124 shares in the last quarter. Finally, Centiva Capital LP acquired a new stake in shares of Navitas Semiconductor during the 3rd quarter worth approximately $195,000. Institutional investors and hedge funds 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.