Navitas Semiconductor (NASDAQ:NVTS) Stock Price Up 13.8% – Should You Buy?

Navitas Semiconductor Co. (NASDAQ:NVTS)’s share price rose 13.8% during trading on Friday . The stock traded as high as $2.89 and last traded at $2.80. Approximately 3,588,641 shares were traded during trading, an increase of 30% from the average daily volume of 2,755,140 shares. The stock had previously closed at $2.46.

Analysts Set New Price Targets

NVTS has been the subject of several analyst reports. Robert W. Baird cut 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. Craig Hallum cut their target price on Navitas Semiconductor from $6.50 to $4.25 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Morgan Stanley cut their target price on Navitas Semiconductor from $4.60 to $3.50 and set an “equal weight” rating for the company in a research report on Tuesday, August 6th. Needham & Company LLC cut their price objective on Navitas Semiconductor from $7.00 to $5.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Finally, Deutsche Bank Aktiengesellschaft cut 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. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Navitas Semiconductor currently has a consensus rating of “Moderate Buy” and a consensus price target of $4.75.

Navitas Semiconductor Stock Up 11.8 %

The company has a market cap of $513.70 million, a P/E ratio of -6.67 and a beta of 2.36. The business has a 50-day moving average price of $2.36 and a two-hundred day moving average price of $3.19.

Navitas Semiconductor (NASDAQ:NVTS) last released 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 company had revenue of $21.68 million during 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 firm’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.10) earnings per share. As a group, sell-side analysts expect that Navitas Semiconductor Co. will post -0.51 EPS for the current fiscal year.

Institutional Investors Weigh In On Navitas Semiconductor

A number of institutional investors and hedge funds have recently made changes to their positions in NVTS. Benjamin Edwards Inc. bought a new stake in shares of Navitas Semiconductor during the third quarter worth $36,000. Bleakley Financial Group LLC acquired a new stake in shares of Navitas Semiconductor during the third quarter worth $41,000. GSA Capital Partners LLP acquired a new stake in shares of Navitas Semiconductor during the third quarter worth $44,000. DRW Securities LLC acquired a new stake in shares of Navitas Semiconductor during the second quarter worth $46,000. Finally, Wedbush Securities Inc. acquired a new stake in shares of Navitas Semiconductor during the second quarter worth $49,000. Institutional investors 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.