Navitas Semiconductor (NASDAQ:NVTS) Trading Up 6.4% – What’s Next?

Shares of Navitas Semiconductor Co. (NASDAQ:NVTS) traded up 6.4% on Friday . The stock traded as high as $3.22 and last traded at $3.23. 540,372 shares changed hands during trading, a decline of 87% from the average session volume of 4,318,771 shares. The stock had previously closed at $3.03.

Wall Street Analyst Weigh In

NVTS has been the subject of a number of research reports. Craig Hallum decreased their price objective on Navitas Semiconductor from $6.50 to $4.25 and set a “buy” rating for the company in a report on Tuesday, November 5th. Rosenblatt Securities reiterated a “buy” rating and issued a $7.50 price objective on shares of Navitas Semiconductor in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Navitas Semiconductor from $6.00 to $4.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Finally, Robert W. Baird cut their price target on shares of Navitas Semiconductor from $7.00 to $5.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $4.75.

Navitas Semiconductor Price Performance

The business’s 50 day simple moving average is $3.41 and its 200 day simple moving average is $2.97. The stock has a market cap of $566.00 million, a price-to-earnings ratio of -7.21 and a beta of 2.23.

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

Insider Buying and Selling

In other Navitas Semiconductor news, Director Richard J. Hendrix sold 40,000 shares of Navitas Semiconductor stock in a transaction on Monday, December 9th. The shares were sold at an average price of $4.54, for a total transaction of $181,600.00. Following the completion of the transaction, the director now directly owns 316,709 shares of the company’s stock, valued at $1,437,858.86. The trade was a 11.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 31.80% of the stock is owned by insiders.

Institutional Trading of Navitas Semiconductor

A number of hedge funds have recently modified their holdings of the stock. Benjamin Edwards Inc. acquired a new stake in Navitas Semiconductor during the third quarter worth approximately $36,000. Bleakley Financial Group LLC acquired a new stake in Navitas Semiconductor during the 3rd quarter worth approximately $41,000. GSA Capital Partners LLP bought a new stake in Navitas Semiconductor in the 3rd quarter valued at $44,000. Algert Global LLC acquired a new position in Navitas Semiconductor in the 2nd quarter valued at $50,000. Finally, Signature Wealth Management Partners LLC bought a new position in Navitas Semiconductor during the 4th quarter worth $51,000. Institutional investors and hedge funds 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.