Navitas Semiconductor (NASDAQ:NVTS) Sees Large Volume Increase – Time to Buy?

Navitas Semiconductor Co. (NASDAQ:NVTS) shares saw strong trading volume on Monday . 4,726,098 shares changed hands during mid-day trading, an increase of 45% from the previous session’s volume of 3,249,466 shares.The stock last traded at $3.71 and had previously closed at $3.17.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NVTS. Deutsche Bank Aktiengesellschaft reduced their price objective on Navitas Semiconductor from $6.00 to $4.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Craig Hallum cut their price objective on shares of Navitas Semiconductor from $6.50 to $4.25 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Rosenblatt Securities reissued a “buy” rating and issued a $7.50 target price on shares of Navitas Semiconductor in a research report on Thursday, October 31st. 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 report on Tuesday, November 5th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Navitas Semiconductor currently has a consensus rating of “Moderate Buy” and an average price target of $4.75.

Navitas Semiconductor Stock Performance

The company has a market capitalization of $728.50 million, a P/E ratio of -9.29 and a beta of 2.37. The firm has a 50 day moving average price of $2.70 and a two-hundred day moving average price of $3.13.

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

Insider Activity

In other news, Director Richard J. Hendrix sold 40,000 shares of Navitas Semiconductor stock in a transaction that occurred 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 sale, the director now owns 316,709 shares in the company, valued at $1,437,858.86. The trade was a 11.21 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 31.80% of the company’s stock.

Hedge Funds Weigh In On Navitas Semiconductor

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. DRW Securities LLC bought a new stake in shares of Navitas Semiconductor in the 2nd quarter valued at $46,000. Wedbush Securities Inc. acquired a new stake in shares of Navitas Semiconductor during the second quarter worth about $49,000. Algert Global LLC bought a new position in shares of Navitas Semiconductor during the 2nd quarter valued at about $50,000. Benjamin Edwards Inc. bought a new stake in Navitas Semiconductor during the 3rd quarter worth approximately $36,000. Finally, Bleakley Financial Group LLC acquired a new stake in Navitas Semiconductor during the 3rd quarter worth approximately $41,000. Institutional investors 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.