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

Navitas Semiconductor Co. (NASDAQ:NVTS) shares gapped up prior to trading on Monday . The stock had previously closed at $2.42, but opened at $2.61. Navitas Semiconductor shares last traded at $2.72, with a volume of 766,198 shares trading hands.

Analyst Ratings Changes

NVTS has been the topic of a number of recent analyst reports. Morgan Stanley cut their target price on Navitas Semiconductor from $4.60 to $3.50 and set an “equal weight” rating on the stock in a research report on Tuesday, August 6th. Needham & Company LLC cut their price target on shares of Navitas Semiconductor from $7.00 to $5.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Rosenblatt Securities reissued a “buy” rating and set a $7.50 price objective on shares of Navitas Semiconductor in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft cut their target price 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. Finally, Craig Hallum decreased their price target on Navitas Semiconductor from $6.50 to $4.25 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Navitas Semiconductor presently has a consensus rating of “Moderate Buy” and a consensus price target of $4.75.

Navitas Semiconductor Trading Down 8.3 %

The company has a fifty day moving average price of $2.35 and a 200 day moving average price of $3.21.

Navitas Semiconductor (NASDAQ:NVTS) last issued its quarterly earnings data 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 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 revenue was down 1.4% on a year-over-year basis. During the same period in the prior year, the business earned ($0.10) EPS. On average, sell-side analysts predict that Navitas Semiconductor Co. will post -0.51 EPS for the current fiscal year.

Insider Activity at Navitas Semiconductor

In other Navitas Semiconductor news, CEO Eugene Sheridan sold 193,662 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $3.03, for a total transaction of $586,795.86. Following the completion of the transaction, the chief executive officer now owns 2,149,631 shares in the company, valued at approximately $6,513,381.93. The trade was a 8.26 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 31.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Navitas Semiconductor

Several institutional investors have recently bought and sold shares of NVTS. Rice Hall James & Associates LLC acquired a new stake in shares of Navitas Semiconductor in the 2nd quarter worth approximately $2,151,000. Point72 Asset Management L.P. raised its holdings in Navitas Semiconductor by 2,656.2% during the second quarter. Point72 Asset Management L.P. now owns 4,283,350 shares of the company’s stock worth $16,834,000 after purchasing an additional 4,127,940 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in Navitas Semiconductor in the second quarter worth approximately $2,364,000. Masters Capital Management LLC boosted its stake in Navitas Semiconductor by 90.0% during 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 in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Navitas Semiconductor by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 9,009,587 shares of the company’s stock valued at $42,976,000 after purchasing an additional 232,496 shares during the period. Institutional investors and hedge funds 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.