Navitas Semiconductor Target of Unusually Large Options Trading (NASDAQ:NVTS)

Navitas Semiconductor Co. (NASDAQ:NVTS) was the target of unusually large options trading on Thursday. Stock traders bought 3,119 call options on the stock. This represents an increase of approximately 57% compared to the typical daily volume of 1,987 call options.

Navitas Semiconductor Stock Up 2.2 %

Shares of Navitas Semiconductor stock traded up $0.07 during trading on Thursday, hitting $3.21. 13,681,466 shares of the stock were exchanged, compared to its average volume of 4,098,565. The stock’s fifty day moving average is $2.43 and its 200 day moving average is $3.16. Navitas Semiconductor has a 12 month low of $1.75 and a 12 month high of $8.44.

Navitas Semiconductor (NASDAQ:NVTS) last released its quarterly earnings results on Monday, November 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.06). The company had revenue of $21.68 million during the quarter, compared to analysts’ expectations 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 for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.10) earnings per share. As a group, equities analysts expect that Navitas Semiconductor will post -0.51 earnings per share for the current year.

Institutional Investors Weigh In On Navitas Semiconductor

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Navitas Semiconductor by 2.6% in the first quarter. Vanguard Group Inc. now owns 9,009,587 shares of the company’s stock worth $42,976,000 after buying an additional 232,496 shares during the period. Point72 Asset Management L.P. increased its stake in shares of Navitas Semiconductor by 87.5% in the third quarter. Point72 Asset Management L.P. now owns 8,031,474 shares of the company’s stock worth $19,677,000 after acquiring an additional 3,748,124 shares during the last quarter. State Street Corp lifted 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 valued at $14,275,000 after buying an additional 221,575 shares during the last quarter. ArrowMark Colorado Holdings LLC grew its position in Navitas Semiconductor by 31.2% in the third quarter. ArrowMark Colorado Holdings LLC now owns 3,556,379 shares of the company’s stock worth $8,713,000 after acquiring an additional 845,664 shares in the last quarter. Finally, Masters Capital Management LLC increased its position in Navitas Semiconductor by 90.0% during the second quarter. Masters Capital Management LLC now owns 1,900,000 shares of the company’s stock worth $7,467,000 after buying an additional 900,000 shares during the last quarter. 46.14% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

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.