Navitas Semiconductor (NASDAQ:NVTS) Shares Gap Up – Still a Buy?

Navitas Semiconductor Co. (NASDAQ:NVTS) shares gapped up before the market opened on Tuesday . The stock had previously closed at $3.86, but opened at $4.12. Navitas Semiconductor shares last traded at $4.02, with a volume of 3,705,998 shares traded.

Wall Street Analyst Weigh In

Several analysts have weighed in on NVTS shares. Rosenblatt Securities reiterated a “buy” rating and issued a $7.50 price objective on shares of Navitas Semiconductor in a research note on Thursday, October 31st. Robert W. Baird dropped their target price on shares of 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 decreased their price objective on shares of Navitas Semiconductor from $6.50 to $4.25 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Navitas Semiconductor from $6.00 to $4.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $4.75.

Navitas Semiconductor Price Performance

The firm has a market capitalization of $745.33 million, a P/E ratio of -9.50 and a beta of 2.37. The stock has a fifty day simple moving average of $2.73 and a two-hundred day simple moving average of $3.13.

Navitas Semiconductor (NASDAQ:NVTS) last released its quarterly earnings data on Monday, November 4th. The company reported ($0.06) earnings per share for the quarter, meeting 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 analyst estimates of $21.93 million. During the same period last year, the firm earned ($0.10) earnings per share. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. As a group, sell-side analysts expect that Navitas Semiconductor Co. will post -0.51 EPS for the current fiscal year.

Insider Buying and Selling at Navitas Semiconductor

In other Navitas Semiconductor news, Director Richard J. Hendrix sold 40,000 shares of Navitas Semiconductor stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $4.54, for a total transaction of $181,600.00. Following the transaction, the director now owns 316,709 shares of the company’s stock, valued at $1,437,858.86. This trade represents a 11.21 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 31.80% of the company’s stock.

Institutional Trading of Navitas Semiconductor

Large investors have recently bought and sold shares of the company. Point72 Asset Management L.P. grew its stake in shares of Navitas Semiconductor by 2,656.2% during the 2nd quarter. Point72 Asset Management L.P. now owns 4,283,350 shares of the company’s stock worth $16,834,000 after acquiring an additional 4,127,940 shares during the period. Masters Capital Management LLC boosted its holdings in Navitas Semiconductor by 90.0% in the 2nd quarter. Masters Capital Management LLC now owns 1,900,000 shares of the company’s stock worth $7,467,000 after buying an additional 900,000 shares during the period. ArrowMark Colorado Holdings LLC grew its stake in Navitas Semiconductor by 31.2% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 3,556,379 shares of the company’s stock valued at $8,713,000 after buying an additional 845,664 shares in the last quarter. Squarepoint Ops LLC bought a new stake in Navitas Semiconductor during the 2nd quarter valued at $2,364,000. Finally, Rice Hall James & Associates LLC purchased a new stake in shares of Navitas Semiconductor during the second quarter worth $2,151,000. 46.14% of the stock is owned by hedge funds and other institutional investors.

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.