Navitas Semiconductor (NASDAQ:NVTS) Shares Gap Up – Time to Buy?

Navitas Semiconductor Co. (NASDAQ:NVTS)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $2.99, but opened at $3.14. Navitas Semiconductor shares last traded at $3.01, with a volume of 1,097,567 shares traded.

Analyst Ratings Changes

Several research analysts have recently weighed in on NVTS shares. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Navitas Semiconductor from $6.00 to $4.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Craig Hallum lowered their target price on Navitas Semiconductor from $6.50 to $4.25 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Robert W. Baird lowered their price objective on Navitas Semiconductor from $7.00 to $5.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $7.50 target price on shares of Navitas Semiconductor in a report on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Navitas Semiconductor has an average rating of “Moderate Buy” and a consensus target price of $4.75.

Navitas Semiconductor Price Performance

The firm has a 50-day moving average of $3.33 and a 200-day moving average of $3.01. The stock has a market cap of $553.86 million, a PE ratio of -7.06 and a beta of 2.23.

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 return on equity of 23.64% and a negative net margin of 84.61%. The company had revenue of $21.68 million for the quarter, compared to analysts’ expectations of $21.93 million. During the same period in the previous year, the firm earned ($0.10) EPS. The firm’s revenue was down 1.4% compared to the same quarter last year. Equities analysts forecast that Navitas Semiconductor Co. will post -0.51 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Richard J. Hendrix sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $4.54, for a total transaction of $181,600.00. Following the sale, the director now directly owns 316,709 shares of the company’s stock, valued at $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 is available at the SEC website. Corporate insiders own 31.80% of the company’s stock.

Institutional Investors Weigh In On Navitas Semiconductor

Hedge funds have recently bought and sold shares of the business. Signature Wealth Management Partners LLC purchased a new stake in shares of Navitas Semiconductor during the 4th quarter valued at about $51,000. Wesbanco Bank Inc. purchased a new stake in Navitas Semiconductor during the fourth quarter valued at approximately $357,000. SG Americas Securities LLC raised its position in Navitas Semiconductor by 81.7% during the fourth quarter. SG Americas Securities LLC now owns 98,601 shares of the company’s stock valued at $352,000 after purchasing an additional 44,340 shares during the period. 180 Wealth Advisors LLC raised its holdings in Navitas Semiconductor by 15.3% during the 4th quarter. 180 Wealth Advisors LLC now owns 90,682 shares of the company’s stock valued at $324,000 after buying an additional 12,027 shares during the period. Finally, M&T Bank Corp raised its holdings in Navitas Semiconductor by 29.6% during the 3rd quarter. M&T Bank Corp now owns 159,804 shares of the company’s stock valued at $392,000 after buying an additional 36,504 shares during the period. Hedge funds and other institutional investors own 46.14% of the company’s stock.

Navitas Semiconductor Company Profile

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.