Navitas Semiconductor (NASDAQ:NVTS) Shares Up 14.2% – What’s Next?

Shares of Navitas Semiconductor Co. (NASDAQ:NVTS) traded up 14.2% on Wednesday . The stock traded as high as $3.53 and last traded at $3.53. Approximately 1,372,519 shares changed hands during trading, a decline of 74% from the average session volume of 5,184,821 shares. The stock had previously closed at $3.09.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on NVTS shares. Deutsche Bank Aktiengesellschaft lowered their price target 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 lowered their target price on Navitas Semiconductor from $7.00 to $5.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. Rosenblatt Securities reissued a “buy” rating and set a $7.50 target price on shares of Navitas Semiconductor in a research report on Thursday, October 31st. Finally, Craig Hallum dropped their price objective on Navitas Semiconductor from $6.50 to $4.25 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $4.75.

Navitas Semiconductor Stock Up 14.6 %

The business’s 50-day moving average is $3.08 and its two-hundred day moving average is $3.06. The company has a market capitalization of $661.26 million, a P/E ratio of -8.43 and a beta of 2.23.

Navitas Semiconductor (NASDAQ:NVTS) last announced its earnings results on Monday, November 4th. The company reported ($0.06) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.06). The firm had revenue of $21.68 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.10) EPS. Analysts predict that Navitas Semiconductor Co. will post -0.51 EPS for the current year.

Insider Transactions at Navitas Semiconductor

In other news, Director Richard J. Hendrix sold 40,000 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $4.54, for a total value of $181,600.00. Following the transaction, the director now owns 316,709 shares in the company, valued at $1,437,858.86. This represents a 11.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 31.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in NVTS. DRW Securities LLC bought a new position in shares of Navitas Semiconductor during the second quarter worth $46,000. Algert Global LLC purchased a new position in Navitas Semiconductor during the 2nd quarter valued at approximately $50,000. Benjamin Edwards Inc. bought a new stake in Navitas Semiconductor in the 3rd quarter worth approximately $36,000. Bleakley Financial Group LLC purchased a new stake in shares of Navitas Semiconductor during the 3rd quarter worth approximately $41,000. Finally, GSA Capital Partners LLP bought a new position in shares of Navitas Semiconductor during the 3rd quarter valued at approximately $44,000. 46.14% of the stock is currently owned by institutional investors.

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.