Navitas Semiconductor (NASDAQ:NVTS) Trading 8.1% Higher – Time to Buy?

Navitas Semiconductor Co. (NASDAQ:NVTS) shares rose 8.1% during trading on Tuesday . The company traded as high as $3.58 and last traded at $3.53. Approximately 1,781,978 shares were traded during mid-day trading, a decline of 64% from the average daily volume of 4,922,548 shares. The stock had previously closed at $3.26.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on NVTS shares. Craig Hallum reduced 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. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Navitas Semiconductor from $6.00 to $4.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Robert W. Baird lowered their target price 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. Finally, Rosenblatt Securities reissued a “buy” rating and set a $7.50 price target on shares of Navitas Semiconductor in a research report on Thursday, October 31st. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $4.75.

Navitas Semiconductor Trading Up 10.0 %

The firm has a 50-day moving average of $3.18 and a two-hundred day moving average of $3.04. The firm has a market capitalization of $669.68 million, a P/E ratio of -8.49 and a beta of 2.23.

Navitas Semiconductor (NASDAQ:NVTS) last posted its earnings results on Monday, November 4th. The company reported ($0.06) EPS for the quarter, hitting analysts’ consensus estimates of ($0.06). The firm had revenue of $21.68 million during the quarter, compared to analysts’ expectations of $21.93 million. Navitas Semiconductor had a negative net margin of 84.61% and a negative return on equity of 23.64%. The business’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 earned ($0.10) earnings per share. On average, sell-side analysts anticipate that Navitas Semiconductor Co. will post -0.51 EPS for the current fiscal year.

Insiders Place Their Bets

In other Navitas Semiconductor news, Director Richard J. Hendrix sold 40,000 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $4.54, for a total value of $181,600.00. Following the completion of the transaction, the director now directly owns 316,709 shares in the company, valued at approximately $1,437,858.86. This trade represents a 11.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 31.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Benjamin Edwards Inc. bought a new stake in Navitas Semiconductor during the 3rd quarter worth approximately $36,000. Bleakley Financial Group LLC bought a new stake in shares of Navitas Semiconductor in the third quarter worth $41,000. GSA Capital Partners LLP acquired a new stake in Navitas Semiconductor in the third quarter valued at $44,000. DRW Securities LLC bought a new position in Navitas Semiconductor during the 2nd quarter worth $46,000. Finally, Algert Global LLC acquired a new position in Navitas Semiconductor during the 2nd quarter worth about $50,000. 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.