Navitas Semiconductor (NASDAQ:NVTS) Stock Price Up 14.2% – Should You Buy?

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Rosenblatt Securities reiterated a “buy” rating and set a $7.50 target price on shares of Navitas Semiconductor in a research report on Thursday, October 31st. Craig Hallum cut their target price on shares of 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. Finally, Robert W. Baird reduced their price objective on Navitas Semiconductor from $7.00 to $5.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 5th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $4.75.

Navitas Semiconductor Stock Down 6.0 %

The firm has a fifty day moving average price of $3.13 and a two-hundred day moving average price of $3.07.

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

Insiders Place Their Bets

In related news, Director Richard J. Hendrix sold 80,000 shares of the company’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $4.04, for a total transaction of $323,200.00. Following the completion of the sale, the director now directly owns 356,709 shares in the company, valued at $1,441,104.36. This represents a 18.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 31.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Commonwealth Equity Services LLC boosted its position in shares of Navitas Semiconductor by 5.4% in the 2nd quarter. Commonwealth Equity Services LLC now owns 77,940 shares of the company’s stock worth $306,000 after purchasing an additional 4,000 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Navitas Semiconductor by 10.5% during the second quarter. Rhumbline Advisers now owns 178,306 shares of the company’s stock worth $701,000 after acquiring an additional 16,892 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Navitas Semiconductor by 48.9% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 24,826 shares of the company’s stock valued at $98,000 after acquiring an additional 8,156 shares in the last quarter. Ensign Peak Advisors Inc raised its position in shares of Navitas Semiconductor by 5.2% in the 2nd quarter. Ensign Peak Advisors Inc now owns 77,245 shares of the company’s stock valued at $304,000 after purchasing an additional 3,800 shares during the last quarter. Finally, DRW Securities LLC acquired a new stake in Navitas Semiconductor in the 2nd quarter worth approximately $46,000. 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.