Navitas Semiconductor (NASDAQ:NVTS) Trading Up 8.1% – What’s Next?

Navitas Semiconductor Co. (NASDAQ:NVTS) shares shot up 8.1% during trading on Tuesday . The stock traded as high as $3.58 and last traded at $3.53. 1,781,978 shares changed hands during trading, a decline of 64% from the average session volume of 4,922,548 shares. The stock had previously closed at $3.26.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NVTS. Deutsche Bank Aktiengesellschaft decreased their price objective on Navitas Semiconductor from $6.00 to $4.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Craig Hallum decreased their price target on shares of Navitas Semiconductor from $6.50 to $4.25 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Rosenblatt Securities reissued a “buy” rating and set a $7.50 price objective on shares of Navitas Semiconductor in a research report on Thursday, October 31st. Finally, Robert W. Baird reduced their target price on shares of Navitas Semiconductor from $7.00 to $5.00 and set an “outperform” rating for the company in a report on Tuesday, November 5th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Navitas Semiconductor has an average rating of “Moderate Buy” and an average target price of $4.75.

Navitas Semiconductor Stock Performance

The company has a market cap of $625.77 million, a PE ratio of -7.98 and a beta of 2.23. The stock’s 50-day simple moving average is $3.24 and its 200 day simple moving average is $3.04.

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

Insider Buying and Selling

In other Navitas Semiconductor news, Director Richard J. Hendrix sold 40,000 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $4.54, for a total transaction of $181,600.00. Following the transaction, the director now directly owns 316,709 shares in the company, valued at approximately $1,437,858.86. This represents a 11.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 31.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Navitas Semiconductor

Several institutional investors have recently modified their holdings of the company. Signature Wealth Management Partners LLC acquired a new stake in Navitas Semiconductor in the fourth quarter valued at $51,000. Wesbanco Bank Inc. purchased a new position in Navitas Semiconductor during the 4th quarter valued at about $357,000. SG Americas Securities LLC raised its position in Navitas Semiconductor by 81.7% during the fourth quarter. SG Americas Securities LLC now owns 98,601 shares of the company’s stock worth $352,000 after acquiring an additional 44,340 shares during the last quarter. 180 Wealth Advisors LLC lifted its holdings in shares of Navitas Semiconductor by 15.3% in the fourth quarter. 180 Wealth Advisors LLC now owns 90,682 shares of the company’s stock valued at $324,000 after purchasing an additional 12,027 shares in the last quarter. Finally, M&T Bank Corp grew its position in shares of Navitas Semiconductor by 29.6% in the third quarter. M&T Bank Corp now owns 159,804 shares of the company’s stock valued at $392,000 after purchasing an additional 36,504 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.