Navitas Semiconductor (NASDAQ:NVTS) Sees Large Volume Increase – Here’s What Happened

Navitas Semiconductor Co. (NASDAQ:NVTS) shares saw unusually-high trading volume on Monday . Approximately 4,726,098 shares were traded 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 Analyst Weigh In

A number of brokerages have recently commented on NVTS. Robert W. Baird lowered their price objective 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. Deutsche Bank Aktiengesellschaft lowered their price target 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 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 report on Tuesday, November 5th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $7.50 target price on shares of Navitas Semiconductor in a report on Thursday, October 31st. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Navitas Semiconductor presently has a consensus rating of “Moderate Buy” and an average price target of $4.75.

Navitas Semiconductor Trading Up 3.1 %

The business has a 50 day simple moving average of $2.73 and a two-hundred day simple moving average of $3.13. The stock has a market cap of $743.46 million, a price-to-earnings ratio of -9.48 and a beta of 2.37.

Navitas Semiconductor (NASDAQ:NVTS) last posted its quarterly earnings data on Monday, November 4th. The company reported ($0.06) EPS for the quarter, meeting 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 net margin of 84.61% and a negative return on equity of 23.64%. The firm’s revenue was down 1.4% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.10) EPS. Research analysts anticipate that Navitas Semiconductor Co. will post -0.51 EPS for the current fiscal year.

Insider Activity

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 value of $181,600.00. Following the completion of the sale, the director now directly owns 316,709 shares of the company’s stock, valued at approximately $1,437,858.86. This represents a 11.21 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 31.80% of the company’s stock.

Institutional Investors Weigh In On Navitas Semiconductor

Several large investors have recently modified their holdings of NVTS. Rice Hall James & Associates LLC acquired a new position in shares of Navitas Semiconductor in the second quarter worth about $2,151,000. Point72 Asset Management L.P. boosted its position in shares of Navitas Semiconductor by 2,656.2% in the second quarter. Point72 Asset Management L.P. now owns 4,283,350 shares of the company’s stock worth $16,834,000 after buying an additional 4,127,940 shares during the period. Squarepoint Ops LLC purchased a new position in shares of Navitas Semiconductor during the second quarter valued at $2,364,000. Mirabella Financial Services LLP purchased a new position in Navitas Semiconductor during the 3rd quarter valued at about $943,000. Finally, Masters Capital Management LLC increased its holdings in shares of Navitas Semiconductor by 90.0% in the 2nd quarter. Masters Capital Management LLC now owns 1,900,000 shares of the company’s stock valued at $7,467,000 after purchasing an additional 900,000 shares during the period. 46.14% of the stock is 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.